Lockheed to use Soviet submarine hunt data in seabed mining Plan

Lockheed Martin Corp., the world’s biggest defense contractor, is preparing to scour the Pacific Ocean seabed in a search for metals using data obtained in a cold-war hunt for a sunken Soviet submarine. Lockheed has set up a unit, U.K. Seabed Resources, to explore for so-called polymetallic nodules that can contain copper, nickel, cobalt, manganese and rare earths. The company, supported by the U.K. government, has been granted the first commercial exploration rights for a 22,000-square-mile area of the Pacific between Hawaii and Mexico.

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