- Norwegian company Loke Marine Minerals has acquired deep sea mineral business UK Seabed Resources (UKSR) from Lockheed Martin Corp LMT. Financial terms were not disclosed.
- UKSR holds a 100% interest in two deep-sea mineral licenses located in the Clarion-Clipperton Zone (CCZ) in the Pacific Ocean. It also has a 19.9% interest in the Ocean Mineral Singapore ISA licence in the CCZ.
- Before this transaction, USKR was a wholly owned subsidiary of Lockheed Martin UK.
- "Loke aims to start mining by 2030 and plans to invest around $100 million in surveys, environmental mapping, and technology development", stated CEO Walter Sognnes, according to Reuters.
- Price Action: LMT shares closed at $473.24 on Thursday.
- Photo Via Company
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
