DeepGreen Resources announces partnership with Maersk Supply Service in deepsea metals industry
Wednesday, Mar 22, 2017
DeepGreen Resources Inc. ("DeepGreen") is pleased to announce its partnership with Maersk Supply Service A/S ("Maersk Supply Service") to recover polymetallic nodules from the Clarion Clipperton Zone of the Pacific Ocean. The deepsea metals industry is an opportunity for developing a more environmentally and societally attractive way to produce cleaner base and strategic metals.

DeepGreen is advancing the NORI Area D Project ("NORI D Project") through its wholly owned subsidiary Nauru Ocean Resources Inc. ("NORI"). The NORI D Project is conducted in cooperation with the Republic of Nauru and advancing the project involves completion of key environmental and engineering milestones. As part of the NORI D Project, Maersk Supply Service has committed one Anchor Handler Tug Supply ("AHTS") Vessel and one Subsea Support Vessel ("SSV") for a total of five marine campaigns (the "Campaigns") during the period 2017 through 2019. The AHTS vessel will support environmental studies of the seabed reaching a water depth of 4000+ meters and the SSV will be utilizing its deck capacity as well as crane capabilities for testing the nodule harvester prototype. Maersk Supply Service's service contribution of approximately US$25 million will convert to DeepGreen common shares.  

During the Campaigns, DeepGreen's offshore team will undertake baseline studies required to complete a comprehensive Environmental Impact Assessment. DeepGreen will also collect polymetallic nodules for metallurgical test work and undertake trials of its nodule harvesting technology. The environmental studies of the seabed will make use of Maersk Supply Service's specialized assets built for deep water operations and expertise for ultra-deep water subsea operations.

Steen S. Karstensen, Chief Executive Officer of Maersk Supply Service, states, "Maersk Supply Service appreciates this unique opportunity to partner with DeepGreen Resources. We believe DeepGreen is well positioned in the seafloor minerals industry and I am confident that Maersk Supply Service's deep-water offshore expertise and Integrated Solutions services will enable us to significantly contribute to the success of this endeavour."

"DeepGreen has secured a strong offshore partner that shares our vision for the recovery of cleaner base and strategic metals from polymetallic nodules in the Clarion Clipperton Zone," said Keith Calder, Chief Executive Officer, DeepGreen Resources Inc.

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