GSR has been exploring polymetallic nodule fields in the Clarion-Clipperton Zone (CCZ) under authorization from the International Seabed Authority (ISA), and also within the Cook Islands’ Exclusive Economic Zone (EEZ), overseen by the Cook Islands government.
In the CCZ, GSR has access to two exploration contract areas. The first is the GSR contract area, sponsored by Belgium, and the second is through a joint venture agreement with the Cook Islands Investment Corporation (CIIC), the business arm of the Cook Islands government, and this contract is sponsored by the Cook Islands.
In the Cook Islands EEZ, GSR’s activities are carried out through Cobalt Seabed Resources Ltd (CSR), a jointly owned company formed in 2016 with CIIC. Each partner holds an equal 50% share in the venture.
Following its review, GSR has decided to focus its current efforts on the Clarion Clipperton Zone, and GSR and CIIC have mutually agreed that their collaboration will continue in the CCZ. At the same time, CIIC will have the flexibility to engage with alternative investors to advance exploration within the Cook Islands EEZ.
“We are proud of the work we have accomplished to date, and GSR remains grateful to all partners, contributors, and team members who have supported the CSR project. That collaboration and insight will continue to inform future work as the organization advances other initiatives,” said Kris Van Nijen, Managing Director of GSR.
While both projects have already benefited from exploration work, environmental studies, and technology development, further scientific research and engineering studies will be required.