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Investing.com -- Lockheed Martin (NYSE:LMT) is engaged in discussions with multiple mining companies about providing them access to its Pacific Ocean seabed mining licenses, the Financial Times reported on Monday, citing the company’s chief operating officer.
Frank St John told the Financial Times that mining companies have "done the homework and determined there is value there," though he noted that the talks are still in the "early days."
The discussions specifically focus on "giving them access to our licences and allowing them to process those materials," St John explained in the interview.
The defense contractor holds licenses for underwater mining operations in the Pacific, which could potentially be utilized by mining companies for resource extraction.
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