Green Minerals inks deal with OSI; Lists on Euronext Growth Oslo

Courtesy: OSI

Green Minerals, a subsidiary of SeaBird Exploration has signed a letter of intent with a consortium led by Oil States Industries (OSI) 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)

Green Minerals is the first dedicated marine minerals company on the Oslo Stock Exchange.

Euronext Growth announced Tuesday that the deep-sea mining company has officially been admitted to trading.

“The listing on Euronext Growth is an important milestone for the company. It is vital to our ability to finance the large project we have embarked upon, it strengthens our position in negotiations with potential partners and it helps us attract the very best minds in the industry,” says Ståle Rodahl, executive chairman of Green Minerals.

Recently, the company raised NOK 34 million through private placements. The placements included NOK 32 million in new shares and NOK 2 million in sales of existing shares.

The shares in the most recent placement were sold at NOK 20.00 corresponding to a market capitalisation of NOK 258 million.

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