2.12.2024 08:08:01 CET | Green Minerals AS | Additional regulated information
required to be disclosed under the laws of a member state
Oslo - 02 December 2024 - Green Minerals ("the Company") understands that the
upstart of the 1st licensing round in Norway has been subject to budget
negotiations between the minority Government and the socialist party SV. As a
result, the Company expects the first licensing round to be delayed by up to 12
months.
January 9th this year the Norwegian Parliament gave an 80/20 vote in favour of
opening up for marine minerals in Norway. A timeline including 1st round license
awards in Q2 2025 has been communicated. The license papers are with the
Department of Energy following the hearing round this fall, ready to be
distributed, and it will now be up to the new Government to be formed after the
elections in September 2025 to implement this decision so that the license round
can continue its course.
While not knowing the details yet, the Company thereafter expects a slightly
accelerated timeline for the 1st round following this delay, allowing for
licenses to be awarded sufficiently early in 2026 to uphold the Company's
timeline for first exploration cruise in 2026. This means that the Company does
not change its estimated timeline for first ore, still expected to take place in
the very end of the 2020's. The Company will update on any changes as more
information is made available from the Department of Energy.
Further, the Company intends to accelerate its previously announced MoU for a
license on polymetallic nodules in the CCZ with the aim of agreeing terms for
the transfer of rights.
DISCLOSURE REGULATION
This information is subject to the disclosure requirements in article 19 of the
Market Abuse Regulation and section 5-12 of the Norwegian Securities Trading
Act.
CONTACTS
* Ståle Monstad, CEO, Green Minerals AS, +47 915 54 644,
staale.monstad@greenminerals.no
ABOUT GREEN MINERALS AS
Green Minerals AS mission is to deliver minerals for the green energy transition
in a responsible and sustainable manner through deep sea mining of key minerals
and rare earth elements (REE). This significantly reduces the social and
environmental costs found in terrestrial mining while at the same time solving a
strategic need for EU and the USA. For more, visit www.greenminerals.no -
http://www.greenminerals.no
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17848272/18343030/5354/Download%20announce
ment%20as%20PDF.pdf