Norway's Loke Buys Lockheed Martin's Deep-Sea Mining Business For Undisclosed Sum - Lockheed Martin (NYSE

Norwegian company Loke Marine Minerals has acquired deep sea mineral business UK Seabed Resources (UKSR) from Lockheed Martin Corp (NYSE:LMT). Financial terms were not disclosed.
UKSR holds a 100% interest in two deep-sea mineral licenses located in the Clarion-Clipperton Zone (CCZ) in the Pacific Ocean. It also has a 19.9% interest in the Ocean Mineral Singapore ISA licence in the CCZ.
Before this transaction, USKR was a wholly owned subsidiary of Lockheed Martin UK.
"Loke aims to start mining by 2030 and plans to invest around $100 million in surveys, environmental mapping, and technology development", stated CEO Walter Sognnes, according to Reuters.
Price Action: LMT shares closed at $473.24 on Thursday.
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