Ocean Mineral Singapore Pte News

A subsidiary of Singaporean conglomerate Keppel Corp Ltd said it signed a 15-year contract with the International Seabed Authority to search the ocean for scarce minerals. The push to explore the ocean is gaining momentum as ore grades on land decline and demand grows for metals in high-tech applications. Ocean Mineral Singapore Pte Ltd (OMS) said it would conduct environmental studies and surveys for deposits of polymetallic nodules, which contain copper, nickel, cobalt and manganese, along with rare earth minerals, at a site within the Clarion-Clipperton Zone, located between Hawaii and Mexico, of the Pacific Ocean. OMS is majority owned by Keppel, while a subsidiary of Lockheed Martin and private investment company Lion City Capital Partners are minority shareholders.

Ocean Mineral Singapore Pte Ltd (OMS) has entered into a 15-year exploration contract for polymetallic nodules at a site within the Clarion-Clipperton Fracture Zone of the Pacific Ocean with the International Seabed Authority (ISA). Sponsored by the Singapore Government, OMS is the first Singaporean company to be awarded an exploration contract for polymetallic nodules. The contract signing ceremony took place between Mr Nii Allotey Odunton, Secretary-General of the ISA and Mr Ong Ye Kung, Director of OMS, and was witnessed by Guest-of-Honour, Mr Masagos Zulkifli Bin Masagos Mohamad, Minister, Prime Minister's Office and Second Minister for Home Affairs and Foreign Affairs, as well as Ambassador Tommy Koh, Singapore's Ambassador-at-Large, and Mr Loh Chin Hua, CEO of Keppel Corporation.

Ocean Mineral Singapore Pte. Ltd. (OMS) has received approval from the International Seabed Authority (ISA) on its application for its first seabed exploration licence. Over the next few months, OMS will work with ISA to finalise the terms of contract for the award of the licence. The licence will allow exploration for polymetallic nodules at a site within the Clarion-Clipperton Fracture Zone of the Pacific. OMS is a Singapore-incorporated company majority owned by Keppel Corporation, with UK Seabed Resources Ltd, a wholly owned subsidiary of London-based Lockheed Martin UK Holdings Ltd, and Singapore-based private investment company Lion City Capital Partners Pte. Ltd., as minority shareholders.

Keppel Corporation forms, Ocean Mineral Singapore Pte., to explore for polymetallic nodules several kilometres beneath the ocean's surface. Polymetallic nodules contain copper, nickel, cobalt and manganese, as well as rare earth minerals, and have the potential of supplying these key metals to meet growing global demand in applications as diverse as construction, aerospace and alternative energy. OMS has applied to the International Seabed Authority (ISA) for its first seabed exploration licence which will be considered by the ISA in July. OMS is a Singapore-incorporated company majority owned by Keppel Corporation, with UK Seabed Resources Ltd…