IOM and CVMR Ink Cooperation Agreement

CVMR Corporation (CVMR) has entered into a Memorandum of Cooperation with Interoceanmetal Joint Organization (IOM) to develop a process for the refining of polymetallic nodules.

The refining process will be conducted using CVMR’s proprietary vapour refining technology.

IOM was the first international organization to be awarded an exploration contract by the International Seabed Authority (ISA) under the UNCLOS.

This agreement grants IOM the right to conduct exploration, mining and refining of polymetallic nodules in 75,000 km2 of the Clarion-Clipperton Fracture Zone of the North East Pacific Ocean.

Under the terms of the Memorandum of Cooperation CVMR will carry out a series of tests on polymetallic nodules samples provided by IOM leading to a feasibility study for the refining of polymetallic nodules by IOM.