Green Minerals and Oil States Industries signs MoU

Reference is made to the 23 March 2021 press release regarding a Letter of Intent between the parties. Green Minerals AS (“GEM” or “the Company”) and Oil States Industries (UK) Ltd (“OSI”) are pleased to announce today that a Memorandum of Understanding establishing collaboration for the development of a Harsh Environment Deep Sea Minerals System (HEDSMS) against a long-term contract for exclusive use in Norwegian waters has been entered.  

OSI under their OSI Minerals™ brand will lead a Consortium of companies including a major global drilling contractor, a global pump supplier, RiserTec, and SMD to collaborate with Green Minerals on a project covering a full HEDSMS concept study through to the delivery of ore to port, including subsea minerals harvester, pump system, riser system, dewatering station, mining support vessel, and bulk transfer.

As part of the agreement, OSI will take a 4,3% ownership stake in Green Minerals by way of issuance of 580,000 shares at NOK 15 per share.

“The MoU with OSI is an important milestone for Green Minerals. It provides us with world-class expertise in all areas involved in the extraction and handling of the mineral-rich ore found on the Norwegian Continental Shelf and helps solidify Green Minerals’ position as the leading marine minerals company on the NCS. On behalf of Green Minerals, I welcome OSI as a shareholder and I am pleased to broaden the industrial, long-term ownership of our Company. We are truly excited about this partnership and look forward to working with all the Consortium members in establishing a new, important industry for Norway,” comments Ståle Rodahl, Executive Chairman of Green Minerals.

Contacts: Ståle Monstad

CEO, Green Minerals

Ph: +47 9155 4644


Green Minerals AS is a pioneer in marine minerals on the Norwegian Continental Shelf. Our mission is to deliver minerals for the green energy transition in a responsible and sustainable manner, thereby lowering the environmental impact and reducing the social costs from onshore mining. The Company targets a NOK 1000bn resource potential on the NCS and expects pilot production to commence in 2026. For more, visit