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

Norwegian company Loke Marine Minerals has acquired deep sea mineral business UK Seabed Resources (UKSR) from Lockheed Martin Corp 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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