In this episode of Know Power, hosts Noha and Mike speak with Craig Shesky, CFO of The Metals Company, a pioneer in deep-sea mining for battery metals. Craig shares his fascinating journey from driving massive trucks in iron mines to leading financial strategies in a cutting-edge industry. The conversation dives into the intricate details of deep-sea mining, exploring how The Metals Company is innovating to collect nickel, copper, cobalt, and manganese nodules from the ocean floor. They discuss the environmental implications, regulatory frameworks, and the critical need for these metals in the clean energy transition. Craig emphasizes the benefits of deep-sea resources over traditional land-based mining, highlighting efforts to minimize environmental impact and collaborate with global partners. Tune in to discover the future of sustainable mining and its vital role in powering our transition to cleaner energy.

Guest bio: Craig has over 15 years combined experience in public investing, metals research and investment banking in New York. He spent 12 years at King Street Capital Management, most recently as senior analyst in charge of recommending investments in the global metals & mining space. He analyzes electrification trends, battery chemistries and the resulting impacts on supply & demand for critical base metals, with particular expertise in nickel and copper. Craig also has significant experience navigating complex, legal-driven investments around the world, as King Street was one of the largest creditors in over a dozen global Lehman Brothers entities. He worked closely with administrators, creditors, lawyers and advisors to reach settlements, form JVs and accelerate recoveries, particularly in the US, UK, German, Swiss and Dutch Lehman administrations. He also spent two years as the top-tier analyst on the insurance & asset management investment banking team at Morgan Stanley.

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[00:01:14] Craig Shesky's background and career journey

[00:02:24] Transition from finance to The Metals Company

[00:03:55] Importance of nickel in battery technology and market dynamics

[00:04:54] Overview of The Metals Company's deep-sea mining operations

[00:06:40] Environmental considerations and comparisons with land-based mining

[00:12:16] Data release and collaboration with international regulators

[00:13:27] Trade-offs and benefits of deep-sea mining

[00:16:19] Detailed extraction process and technological advancements

[00:20:49] Seafloor and midwater plume management

[00:23:09] Regulatory framework and application process for commercial production

[00:30:40] Potential impacts on local communities and global supply chains

[00:36:09] Partnership with Nauru and economic benefits for developing nations

[00:44:07] Long-term vision and goals for The Metals Company

[00:46:37] Future of deep-sea mining and competitive landscape

[00:51:17] Regulatory challenges and potential changes for the industry

[00:57:03] Scale and potential impact of The Metals Company's resources

[00:59:26] Broader industrial and defense applications for mined metals

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Noha Sidhom

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Gabel Associates