Project Information

Project Information

Summary

Large cobalt resource

OML has an opportunity to be an exclusive developer of what appears to be the world’s largest cobalt resource at a time when the demand for cobalt is expected to exceed the available supply from other sources.

Exclusive rights

OML has secured exclusive rights to apply for an exploration license in an Area in the Cook Islands Exclusive Economic Zone with high abundances of cobalt rich polymetallic nodules.

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 cobalt resource in the world.

Legislation and regulations in place

The Cook Islands already has seabed mining legislation and regulations in place, and have a stated mission to support an environmentally sustainable development of their seabed resources.

Outstanding project team

OML has an outstanding team to move this project forward, including engineers with experience in pilot testing of deep sea mining systems and extraction processes for manganese nodules from programs conducted in the 1970s.
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