Green Minerals shifts focus to international deep-sea mining as Norway delays

Green Minerals AS (GEM) expressed "deep concern" regarding the Norwegian government's failure to implement the opening of its continental shelf for seabed minerals, despite a majority decision in 2024. This inaction, delaying the first deep-sea licensing round in Norway until 2026, increases political risk and uncertainty. GEM will shift its focus to other regions to secure critical minerals for the green energy transition and NATO defense.

GEM has already diversified its portfolio, having signed a memorandum of understanding for polymetallic nodules in the Clarion Clipperton Zone (CCZ) in the Pacific Ocean. This license area holds over 200 million tonnes of measured, indicated, and inferred wet nodules and is poised for harvesting once ISA mining codes are finalized, providing GEM a strategic foothold outside Norway.

The board has initiated a strategic review to maximize shareholder value, engaging with other mining and adjacent industries, and retaining the law firm Schjødt for assistance. GEM aims to accelerate the transfer of rights under the CCZ agreement and actively explore other global opportunities as deep-sea mining gains traction.