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Loke acquiring DSM licences in the Pacific Ocean

Illustration by Loke Marine Minerals

Loke Marine Minerals (Loke) has announced the acquisition of the deep sea mineral business UK Seabed Resources. Furthermore, Kongsberg Gruppen has joined as a new investor.

Loke is developing a number of differentiating technologies that will aim to minimize the environmental footprint and improve industrial efficiency through safe and responsible operations.

Meet Walter Sognnes, CEO at Loke 19 April at our seminar Accelerating deep sea exploration, to learn more about the acquisition and plans going forward.

Two licences in the Pacific Ocean

Loke has issued a press release announcing the acquisition of deep-sea mineral business UK Seabed Resources (UKSR).

UKSR holds a 100% interest in two deep sea mineral licences located in the Clarion-Clipperton Zone ("CCZ") in the Pacific Ocean, sponsored by the United Kingdom (“UK”).

The licences are issued by the International Seabed Authority. UKSR also holds a 19.9% interest in the Ocean Mineral Singapore ISA licence in the CCZ.

Loke CEO, Walter Sognnes, comments, – This acquisition accelerates Loke’s exploration plans, and ambition to deliver the safe production of nodules with as minimal an environmental impact as possible. Loke aims to make a Field Investment Decision in 2027 and start production in 2030. We are excited to have the UK as the sponsor state and see this as a natural continuation of the strong existing UK-Norway strategic cooperation in the offshore oil and gas industry.

Read the full press release.

Kongsberg as third cornerstone investor

Furthermore, Loke announced that Kongsberg Gruppen will join as a third cornerstone investor and technology partner.

Kongsberg Gruppen ASA is a Norwegian public limited company that supplies high tech systems and solutions to customers in the offshore oil and gas industry, the merchant fleet, defence, aerospace and renewable industries.

– Welcoming Kongsberg Gruppen as an industrial investor is a major achievement for Loke. This further strengthens our shareholder base and technology partnership and puts Loke in a strong position to develop the licences acquired today, commented Hans Olav Hide, Chairman of Loke.

Contact Information

Jon O. Hellevang

R&D Manager

Jon O. Hellevang


Loke was established in 2019 by experienced offshore energy leaders and entrepreneurs to become a leading provider of minerals for the green energy transition.

Loke’s heritage from the Norwegian ESG-focused and technically advanced oil and gas industry will provide a solid foundation for a safe and sustainable supply of critical minerals for Europe.

Loke’s strategic vision is to become the world leader in the exploration and production of deep-sea mineral resources.

Together with our partners, applying our profound geoscience and subsea expertise to develop differentiating and sustainable technology, we are enabling exploration and production of seabed minerals in the most environmentally sustainable way.