Norway's Green Minerals has signed an extension of a memorandum of understanding for a license in the Clarion Clipperton Zone (CCZ), enabling the company to obtain its first license for marine minerals.
"The license is in the CCZ in the Pacific Ocean and preliminary assessment of the resource base is encouraging," said Green Minerals.
The company said exploration data indicated a significant resource on a global scale with more than 200 million tonnes of measured, indicated and inferred wet nodules combined over the license area.
"With this agreement, the company extends its partnership with a competent and renowned international license holder to further develop a license in one of the most prospective resource areas in the world," commented Ståle Rodahl, Executive Chairman of Green Minerals.
The MoU has been extended until 2027.
"Green Minerals' mission is to deliver minerals for the green energy transition in a responsible and sustainable manner through deep sea mining of key minerals and rare earth elements (REE)," added the company. "This significantly reduces the social and environmental costs found in terrestrial mining while at the same time solving a strategic need for the EU and the USA."