OML is working with the Government of the Cook Islands to be an exclusive developer of the Moana -1 Project, and perhaps even more. Our total area for this lease is over 23,000 km2. Based on our JORC reports, when this comes online we expect to be the world’s largest primary cobalt resource at a time when the demand for cobalt is expected to exceed the available supply from other sources.

High tonnage inferred resource
An independent resource assessment prepared by RSC shows that this Area contains an inferred resource of about one million tonnes of cobalt contained in the nodules. OML’s management believes this to be the largest primary cobalt resource in the world.

Legislation and regulations in place
The Cook Islands already has seabed mining legislation and regulations in place and are expected to have the Mining Legislation finalized in early 2024. The government has been a committed partner and have a stated mission to support an environmentally sustainable development of their seabed resources.

Outstanding project team
OML has the team to bring this incredible opportunity online, including Senior Management with extensive prior seabed mining experience, as well as engineers with experience in pilot testing of deep sea mining systems and extraction processes for manganese nodules from programs conducted in the 1970s.

Tremendous Processing Opportunity
OML is also concurrently developing a modified Cuprion processing system to extract each of the minerals that are present in the nodules. Our system is designed to function at ambient temperature and pressure. We are developing this and seeking strategic partnerships to be able to provide the world with a secure source of critical minerals in the coming decade.