OFFSHORE CRITICAL MINERALS

OFFSHORE CRITICAL MINERALS

Polymetallic nodules are   critical metals, such as copper (Cu), Co, and Ni, which are widely found on the abyssal plains of the global oceans and are an abundant source for rare elements such as REEs, molybdenum (Mo), phosphorus (P), thallium (Ti), tellurium (Te), and lithium (Li)   Besides the Metals Company,  ICM is the only other firm seeking a license there.  There are Fe–Mn nodules throughout the global ocean, predominantly on the surface of sediment-covered abyssal plains at water depths of approximately 3500 to 6500 m. The most extensive deposits have been found in the Pacific Ocean, especially between the Clarion and Clipperton Fracture Zones (CCZ), the Peru Basin, and Penrhyn–Samoa Basins . Traditionally, Ni and Cu have been the metals of greatest economic interest and have mean concentrations in the above three nodule fields that vary from 1.10% to 1.30% and 0.60 to 1.07%

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The Clarion Clipperton is  the richest deposit found to  date with large amounts of Copper,  Cobalt,  Magnesium and Nickel..  ICM has been investigating the feasibility of Deepsea mining.  Working with individuals at NOAA, they have indicated to ICM the importance of accelerating the licensing application process and have a mandate to accelerate our application..  They recognize the importance of the United States establishing a meaningful position in one of the world's most valuable rare earth mineral deposits.. Extensive feasibility work for deep-sea mining in the Clarion-Clipperton Zone (CCZ)—a 1.7 million square mile area in the Pacific Ocean between Hawaii and Mexico has been conducted.  focusing on the extraction of polymetallic nodules rich in cobalt, nickel, copper, and manganese.   The work involved a combination of technological testing, environmental impact assessments, and economic modeling, largely regulated by the International Seabed Authority (ISA).

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Other areas we have considered for possible deep sea exploration include the Mid-Atlantic Ridge and Indian Ocean (polymetallic sulfides), the Central Pacific (cobalt-rich crusts), and various Exclusive Economic Zones (EEZs) like Norway, Japan, and the Cook Islands. These regions are targeted for manganese, nickel, cobalt, and rare earth elements.    ICM may consider another area to initiate further feasibility studies once we have our pending application in the Clarion Clipperton approved.