Key points
- President Trump issued executive order mandating acceleration of seafloor mineral extraction permitting and associated processing.
- FOXMEX, the Mexican phosphate project, carries $1.3 billion internal NPV valuation; Odyssey increased stake to 35% and is establishing a joint venture with Mexican partner.
- Cook Islands project OML has $4.7 billion NPV and targets extraction permit submission by late 2026; adjacent project CIC, with license area 10 times larger, begins environmental exploration.
