Developing one of the World’s Largest Cobalt Resources
Stock Code: Private
Company Exposure: Cobalt | Nickel
| Rare Earths | Scandium
Project Locations: Cook Islands
Ocean Minerals LLC (OML) is a privately-held seabed minerals exploration and development company focused on the company’s polymetallic nodules project (cobalt-nickel-coppermanganese) and sediment exploration prospect (rare earth elements-scandium), both located in the Cook Islands Exclusive Economic Zone (EEZ).
OML believes that the technology and systems required to mine these nodules in an economic and sustainable manner already exist and have been proven in numerous pilot tests, allowing this and other seabed nodule projects to emerge as a significant and scalable source of cobalt and other critical minerals.
Largest known primary cobalt resource
OML is developing one of the world’s largest undeveloped cobalt resources at a time when existing supply is increasingly unable to satisfy demand. OML holds a 43-101 and JORC-compliant inferred resource with over 1 million tonnes of cobalt contained in roughly 200 million tonnes of nodules – in addition to nickel and other byproducts. Beneath the nodules are sediments with areas rich in REEs and scandium.
OML has secured exclusive rights to apply for exploration licenses across several blocks/ tenements in the Cook Islands Exclusive Economic Zone (EEZ) with high prospectivity and abundance of cobalt-rich polymetallic nodules and mineral-rich sediments.
Legislation and regulations in place
The Cook Islands is an ideal jurisdiction with a government who is actively supporting the sustainable development of their seabed mineral resources – with existing seabed mining legislation and regulations in place thanks to the 2009 Seabed Minerals Act and 2012 Seabed Minerals Authority, providing a clear legal framework for development.
Proven mining method & experienced team
OML’s proposed mining methods are based on proven technologies that were pioneered in the 1970s and improved upon by innovations made in the deep-water oil & gas industry and other underwater mining operations. OML’s team combines critical specialized experience from all of these areas.