Key points
- USGS added phosphate to the U.S. Critical Minerals List; Odyssey (NASDAQ: OMEX) applauded the move
- CEO Mark Gordon credited Novaphos CEO Tim Cotton, a long-standing colleague, for advocacy on the designation
- Odyssey has two active phosphate-prospective projects and uses its proprietary Global Prospectivity Analysis
- PHOSAGMEX joint venture with Capital Latinoamericano targets a North American fertilizer supply chain; Odyssey also filed a lease sale request with BOEM for a Mid-Atlantic OCS area
TAMPA, Fla.–(BUSINESS WIRE)–
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), a U.S.-based ocean exploration and marine resource development leader, applauds the U.S. Government’s formal inclusion of phosphate on the nation’s Critical Minerals List, as defined by the U.S. Geological Survey (USGS). This designation advances America’s resource security and reinforces Odyssey’s strategic focus on responsibly developing domestic phosphate resources.
“This federal recognition of phosphate as critical for U.S. manufacturing, agriculture, and national security underscores our belief in the strategic importance of this resource,” said Mark Gordon, Chairman and CEO of Odyssey Marine Exploration. “One of our long-standing colleagues, Tim Cotton, CEO of Novaphos, alongside other industry voices, has been instrumental in advocating for phosphate’s inclusion. Odyssey’s ongoing work directly supports U.S. priorities to strengthen domestic supply chains and responsibly advance ocean mineral development.”
Phosphate’s designation as a critical mineral reinforces the importance of developing secure, sustainable sources to reduce import reliance and ensure resilience in agriculture and manufacturing. This recognition also aligns with the U.S. government’s broader momentum to expand access to ocean-based mineral resources through science-led exploration and responsible permitting pathways.
Odyssey is building a diversified portfolio of projects designed to address global challenges in food security, clean energy, and resource independence—with phosphate as a central focus. The company currently has two active projects prospective for phosphate and continues to apply its proprietary Global Prospectivity Analysis to identify additional high-potential regions within favorable jurisdictions.
PHOSAGMEX, Odyssey’s joint venture with Capital Latinoamericano (“CapLat”), aims to establish a North American fertilizer supply chain that enhances food security and supports sustainable agricultural practices.
In the United States, Odyssey recently submitted an Unsolicited Request for Lease Sale to the Bureau of Ocean Energy Management (BOEM) for an area within the U.S. Outer Continental Shelf (OCS) off the Mid-Atlantic coast. The proposed area is believed to be highly prospective for phosphate, as well as other critical minerals—including titanium, zirconium, and rare earth elements—that are essential for defense, clean energy, and advanced manufacturing.
About Novaphos
Novaphos Inc. is changing how the world makes phosphate, modernizing production in ways not seen for decades. Novaphos proprietary and patented processes are low-waste, low-cost, proven, and highly scalable: safer for the environment and better for business. We have two core technologies to change how phosphoric acid is made. Our phosphate process enables production of high-quality phosphoric acid from low-quality phosphate rock, even mine tailings, to make high-quality phosphoric acid. Our phosphogypsum reprocessing technology allows existing phosphoric acid producers to recover and reuse sulfur from this large-volume and problematic waste. Both processes produce a useful calcium silicate construction aggregate instead of phosphogypsum. Novaphos phosphoric acid can be used in agriculture and industry, including in LFP battery cathodes. The process is scalable, energy-efficient, and produces a useful calcium silicate construction aggregate byproduct instead of phosphogypsum.
