TAMPA, Fla.–(BUSINESS WIRE)–Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), an ocean exploration pioneer engaged in the discovery, development, and extraction of critical minerals that provide solutions to global challenges, provides a company update.
“The recent arbitration ruling and the 2018 Tribunal Federal de Justicia Administrativa (TFJA) ruling in our favor validate that our approach to responsible ocean mineral exploration is viable. We remain committed to the long-term success of our business, supported by a strong portfolio of current projects and a pipeline of new projects that offer further opportunities to expand access to critical minerals in high demand. We were encouraged to see the unprecedented volume of trading in our stock, which we believe indicates an increased interest in our company and our industry’s crucial role in addressing critical global mineral resources issues, said Mark Gordon, Odyssey’s Chief Executive Officer and Chairman of the Board of Directors. Our focus on ocean minerals supports efforts to reduce carbon emissions through renewable energy and enhance fertilizer availability for a growing global population. We continue to believe the ExO Phosphate Project could play a vital role in helping Mexico achieve its long-standing goal of addressing food security by allowing the country to have a stable supply of domestically sourced phosphate that could enhance the country’s fertilizer production.
The industry has been monitoring the Odyssey NAFTA case. I am pleased to see that the international panel of arbitrators supports and encourages governments to treat permit applications in a fair and equitable manner. Our industry is working tirelessly to ensure excellent environmental analysis and stewardship, just as Odyssey did in this instance, and that science underpins permitting decisions, said Hans Smit, CEO of Ocean Minerals Limited (OML). We look forward to continuing to work with Odyssey as they support our work program in the Cook Islands.
Odyssey’s research and scientific team actively uses its proprietary Global Prospectivity process to identify promising regions with stable governments interested in understanding their seafloor mineral resources. This approach aims to capitalize on the growing global interest in the industry, including in the United States, where legislative initiatives are gaining momentum. In addition, Norway has opened its continental shelf for deep-sea mineral exploration, and Japan…
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