Ocean Minerals LLC
DEVELOPING ONE OF THE WORLD’S LARGEST COBALT RESOURCES
Cobalt – Nickel – Rare
Earths – Scandium
Ocean Minerals LLC
Ocean Minerals LLC (OML) is a privately-held seabed minerals exploration and development
company focused on the company’s polymetallic nodules (cobalt-nickel-copper-manganese) and sediment (scandium-rare earth elements) projects located in the Cook Islands.
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 containedb in roughly 200 million tonnes of nodules – in addition to nickel and other byproducts. Beneath the seabed nodules are sediments rich in scandium and rare earth elements.
- Exclusive access
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.
- 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.
Directors & Management
Dr. John Halkyard – Founder, Chairman, and CEO
Hans Smit – COO and Executive Director
Dave Huber – SVP Business Development and Executive Director
Laurie Meyer – Chief Projects Officer
Dr. Colin Seaborn, AusIMM – Chief Metallurgist
Board and Management – ~80%
The Cook Islands
The Cook Islands is an independent Commonwealth sovereign nation focused on developing seabed resources, benefits from an extensive marine and seabed jurisdiction thanks to their Exclusive Economic Zone (EEZ). The island and their territories are rich in seabed mineral resources, particularly deposits such as polymetallic nodules, polymetallic sulphides, and cobalt-rich crusts.
Cook Islands Agreements
Nodules Agreement signed with Cook Islands Investment Corporation – October 2017
- OML has exclusive rights to apply for an Exploration License for cobalt-rich polymetallic nodules containing in Areas 4 and 5 (see map)
- Exploration License must be applied for within 12 months, which can be extended to 18 months if requested by month 9
- Exploration Licenses currently awaiting receipt in the Cook Islands; expected H1 2019
Areas reserved for OML under the agreements of Sept 2016 and Oct 2017. Each block is approximately 12,000 km2.
Sediment Agreement signed with Cook Islands Investment Corporation – September 2016
- Limited to the scandium- and rare earth element-rich sediment resource only
- Area 1 is exclusively reserved for OML
- OML has right of first refusal for Exploration License Applications over Areas 2,3, 4, and 5
- OML has two years to apply for a Prospecting License to explore within these Areas
Large Cobalt Resource
- NI 43-101 / JORC resource report results for OML’s reserved blocks focused on polymetallic nodules:
- Maiden Inferred Resource
- 202 million tonnes of nodules (dry)
- Cobalt grade of 0.5%; nickel grade of 0.23%
- Abundance (nodule clustering) of 28 kg/m2
- 1.01 million tonnes of cobalt contained
- 470,000 tonnes of nickel contained
- 40+ years of mining at 12k mt/yr cobalt production Homogenous, two dimensional ore body allows for excellent understanding of resource and metallurgy
Additional cobalt-rich polymetallic nodule areas not covered in the report will be the target of future exploration.
- OML’s mining method focuses on use of field-proven technology that allows engineers to proceed in parallel with exploration and permitting
- Utilizes recent deep-water oil & gas exploration and production technology that enhances the viability of seabed mining technology, proven during several trials in the 1970s
- Converts existing ore carriers for mining and transportation.
- Provides scalable and modular production volume growth
- Concept for nodule extraction:
- Primary mining vessel with riser pipe for lifting of nodules via airlift and multiple collectors;
- Support vessel to maintain and repair collectors;
- Cargo vessels to ferry nodules to port of off-loading