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Keppel Corp unit gets international licence to explore seabed for minerals

Published on Jul 22, 2014 12:05 PM

SINGAPORE - A unit of Keppel Corp is embarking on a seabed exploration for minerals.

In a statement today, Keppel said its unit, Ocean Mineral Singapore (OMS), had received approval from the International Seabed Authority (ISA) for its first seabed exploration licence.

Over the next few months, OMS will work with ISA to finalise the terms of contract for the licence, which will allow exploration for polymetallic nodules at a site within the Clarion-Clipperton Fracture Zone of the Pacific Ocean.

OMS is a Singapore-incorporated company majority owned by Keppel, with UK Seabed Resources, a wholly owned subsidiary of London-based Lockheed Martin UK Holdings, and Singapore-based private investment company Lion City Capital Partners, as minority shareholders.

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