What Are We Proposing?

Odyssey has submitted an unsolicited request asking the Bureau of Ocean Energy Management (BOEM), an agency within the U.S. Department of the Interior (DOI) to consider holding a lease sale that would authorize marine mineral exploration in a carefully selected offshore area off of the Virginia coast. Following its review of the request, BOEM initiated the first step in the process by publishing a Request for Information and Interest (RFI) to gather feedback from interested stakeholders.

On the condition that BOEM grants a lease and it is awarded to Odyssey, we would follow a structured exploration program under BOEM oversight and the applicable environmental review processes required under NEPA in order to confirm whether heavy mineral sands (HMS) are present in concentrations suitable for future development.

Partnering with Great Lakes Dredge & Dock (GLDD), the largest U.S. dredging company, we intend to proceed with a four-phased approach, each clearly defined and only allowing advancement once regulatory approvals are secured and environmental reviews are completed.

All work would be conducted in coordination with relevant agencies, with opportunities for public involvement throughout the review process.

Phase 1: Gathering Baseline Information

Phase 1 is intended to address any data gaps identified through collaboration with BOEM. We would conduct high-resolution sonar mapping of the seafloor, shallow sediment sampling to understand geology and biology, and conduct surveys to identify any cultural or archaeological resources or potential hazards. These preliminary activities use low-energy acoustic tools commonly used in oceanographic research and are generally expected to have localized and temporary effects, subject to BOEM review. Per the Jones Act (Merchant Marine Act of 1920), operations, if approved, would be conducted using U.S.-built, U.S.-flagged research vessels crewed by U.S. citizens.

Phase 2: Defining the Resource

Phase 2 covers the Delineation Plan, which is a BOEM-approved scientific program that maps where minerals are located, how deep, and whether they are recoverable and commercially viable. Anticipated to last approximately 12 months, this phase includes multibeam sonar and sub-bottom profiling, magnetometer surveys, sediment samples, and lab testing. These tools and surveys are meant to detect hazards and understand mineral grade processing behavior, while also identifying any archaeological sites or unexploded ordnance (UXO), though initial desktop reviews have not identified known cultural resources or UXO sites within the outlined area.

Phase 3: Pilot Testing

Phase 3 involves pilot testing if the Delineation data shows promising HMS resources. We would request BOEM approval for a Pilot Testing Plan that then would undergo environmental review and public comment prior to approval. The testing plan involves collecting a bulk amount of material to evaluate dredging performance and mineral processing methods. Pilot testing would occur in small, controlled areas. Potential environmental effects would be evaluated through BOEM's review process, with mitigation measures applied as appropriate. 

Phase 4: Commercial Development Planning

Phase 4 is the final phase, containing commercial development planning and production. This phase is only considered if scientific data confirms the resource; environmental review supports proceeding, and BOEM approves a detailed Dredging Plan through a rigorous NEPA review process.

A Science First, Phased Approach

It is important to reiterate that this phase program is exploration based, with the goal of researching and gathering data to confirm the presence of HMS in volumes large enough for development in the future. All activities would be subject to regulatory oversight, environmental review, and approval requirements designed to ensure activities are undertaken responsibly.