Trio invest in Norwegian deep-sea mining company

Aug. 13, 2021
TechnipFMC, Wilhelmsen, and NorSea have invested in Loke Marine Minerals.

Offshore staff

OSLO, Norway TechnipFMC, Wilhelmsen, and NorSea have invested in Norwegian deep-sea mining company Loke Marine Minerals.

Wilhelmsen and NorSea have together acquired a 18% stake. TechnipFMC has an 18% minority ownership stake.

Marine minerals have been identified by the World Bank, World Economic Forum, and International Energy Agency as one of the potential solutions to meet the increasing demand for metals used in electric vehicle batteries, clean energy technologies, and consumer electronics.

Together, Loke and TechnipFMC are developing a patent-pending, autonomous subsea production system that aims to have minimal impact on the environment and positions the company well for potential offshore licensing on the Norwegian continental shelf (NCS) and internationally.

Jonathan Landes, President, Subsea at TechnipFMC said, “Our culture of collaboration, integration, and innovation, along with our expertise in subsea robotics and extensive history on the NCS can help meet the rising demand for new technologies and resources that are driving the energy transition.”

The Norwegian continental shelf is known to have copper, zinc, cobalt, and other rare earth elements. Norway is one of the only countries to have formalized marine mineral legislation. The Norwegian government is expected to make a final decision on licensing approval for exploration and production in 2023.