SeaBird Exploration Plc: Green Minerals AS signs LOI with OSI
Published March 23, 2021 - 09:14 AM
23 March 2021, Limassol, Cyprus
Green Minerals AS, a subsidiary of SeaBird Exploration Plc, today announces a letter of intent (“LOI”) with a consortium led by Oil States Industries (UK) Ltd to collaborate on a FEED study for a turnkey Harsh Environment Deep Sea Mining System (HEDSMS) against a long term contract for exclusive use within Norwegian jurisdiction as defined by the Seabed Minerals Act of 2019.
The company anticipates first ore under it`s planned pilot in 2026. The recovered ore is expected to contain significant grades of minerals needed for the green shift, such as copper, cobalt, nickel and rare earth elements (REE)
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All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird`s reliance on a cyclical industry and the utilization of the company’s vessels. Actual results may differ substantially from those expected or projected in the forward-looking statements.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.