Odyssey Marine files lease sale request

Odyssey Marine (OMEX) announced that it has submitted an unsolicited request for lease sale of marine mineral exploration and development rights to the U.S. Department of the Interior’s Bureau of Ocean Energy Management. Odyssey’s request is among the first under the Outer Continental Shelf Lands Act of 1953 in U.S. jurisdiction under BOEM’s oversight. The proposed lease area, located within the U.S. outer continental shelf off the Mid-Atlantic coast, is highly prospective for heavy mineral sands rich in titanium, zirconium, rare earth elements and phosphate. Together, these materials are critical to U.S. national defense, domestic manufacturing, and food security underpinning U.S. manufacturing and agriculture-from aerospace alloys and smartphones to medical devices and fertilizers. Additionally, offshore sand and gravel resources from the recovery process can support coastal resiliency efforts.