Loke Marine completed the acquisition of UK Seabed Resources from Lockheed Martin.

Loke Marine, a deep-sea mining firm, completed the acquisition of UK Seabed Resources, a sea mining company, from Lockheed Martin, an American aerospace, arms, defense, information security, and technology corporation. Financial terms were not disclosed. “This acquisition accelerates Loke’s exploration plans, and ambition to deliver the safe production of nodules with as minimal an environmental impact as possible. Loke aims to make a Field Investment Decision in 2027 and start production in 2030. We are excited to have the UK as the sponsor state and see this as a natural continuation of the strong existing UK-Norway strategic cooperation in the offshore oil and gas industry,” Walter Sognnes, Loke CEO.