Nauru Ocean Resources, Inc., is a wholly-owned subsidiary of The Metals Company. In 2011, the International Seabed Authority (ISA) granted a polymetallic nodule exploration contract in the Clarion Clipperton Zone (CCZ) to NORI, sponsored by the government of the Republic of Nauru. Since then, in close partnership with Nauru and working with leading researchers and institutions, The Metals Company has progressed with a comprehensive seabed-to-surface research program in its designated area, NORI-D. Representing 22% of the The Metals Company’s estimated defined resource in the CCZ, NORI-D is ranked as the largest undeveloped nickel project in the world.