Seabird Exploration has diversified into deep-sea mining after announcing plans for funding and listing of its new subsidiary Green Minerals AS (GM).
Seabird Exploration has diversified into deep-sea mining after announcing plans for funding and listing of its new subsidiary Green Minerals AS (GM).
‘Green Minerals will enable the world’s drive towards electrification and digitization in a sustainable manner. We do this by deep-sea mining of marine minerals and rare earth elements (REE) key to the green shift, eliminating the social costs in onshore mining while reducing the environmental footprint and solving a strategic need for the EU and USA,’ SeaBird said.
Green Minerals has raised $13 million by issuing 2.8 million shares in the new venture. Seabird has retained ownership of 77% in the company. Green Minerals will seek listing on Euronext Growth Oslo in Q1 2021.
‘Some of the largest shareholders in Seabird, the executive chairman and at least one board member have pre-committed to subscribe to the offering,’ SeaBird said.
Medium-term, the company is looking to win licences to survey, explore and produce marine minerals on the Norwegian Shelf, capitalizing on what it says is a $77.8 billion resource potential.
Long term, Green Minerals said its goal is to win mining licences internationally, based on its Norwegian Shelf technology, and establish the company as a leading offshore miner globally.
