The International Seabed Authority and the UK Seabed Resources Limited (UKSRL) a, wholly owned subsidiary of Lockheed Martin UK, have signed a 15-year contract for exploration for polymetallic nodules in the eastern part of the Clarion-Clipperton Fracture Zone.
The Contract was signed Tuesday, 29 March 2016, in New York, by the Secretary-General of the International Seabed Authority, Nii Allotey Odunton, and Linda Reiners, UKSRL Managing Director, on behalf of the Chief Executive of UKSRL, Peter Ruddock.
UKSRL allocated area (outlined in black) covers a total surface of 74,919 km2 in the eastern part of the Clarion-Clipperton Fracture Zone
The application for the exploration contract was approved by the Council of the International Seabed Authority on 21 July 2014.
The area allocated to the Contractor covers a total surface of 74,919 square kilometers (km2) in the eastern part of the Clarion-Clipperton Fracture Zone (CCZ) as shown in the map below.
This is the fourteenth contract for exploration for polymetallic nodules in the CCZ and the second contract for exploration for polymetallic nodules by UKSRL which has been signed with the Authority.
UKSRL signed its first exploration contract with the Authority in February 2013. The contract area is approximately 116,000 km2 located in the eastern part of the Clarion-Clipperton Zone.
