AOM Chairman Outlines $1B Merger and Platform to Rebuild U.S. Critical Minerals Supply Chain on Fox Business
In a recent interview on Fox Business, AOM Chairman Tom Albanese announced American Ocean Minerals' merger with Odyssey Marine Exploration, detailing a well-capitalized, U.S.-controlled platform to secure critical mineral supplies, rebuild domestic industrial capacity, and break reliance on foreign adversaries.
American Ocean Minerals (AOM) Chairman Tom Albanese recently appeared on Fox Business’ Mornings With Maria to discuss the strategic importance of building a secure, U.S.-controlled platform for critical minerals.
During the segment, Albanese highlighted a major corporate milestone: AOM is merging with Odyssey Marine Exploration in a $1 billion valuation that will take the company public on the Nasdaq. Backed by $230 million in recent fundraising—leaving the company with $175 million in the bank—AOM is fully capitalized to execute its vision.
Breaking the Foreign Stranglehold
Emphasizing the urgency of the moment, Albanese drew a direct parallel to the successful U.S. effort to reduce reliance on Middle Eastern energy over the past two decades, noting that a similar pivot is now required for foundational metals currently dominated by China.
"We have to have diversified, fully independent supply chains for our energy, for our metals, and for our industry." — Tom Albanese, AOM Chairman
Albanese also highlighted the importance of recent domestic policy initiatives like Project Vault, a $12 billion effort aimed at restoring U.S. strategic stockpiles. He noted that while Project Vault provides vital near-term cover, deep-sea mineral extraction is the key to scaling long-term domestic capacity.
From Exploration to Industrial Scale
Discussing AOM’s operational approach, Albanese underscored the importance of disciplined execution across every stage of development, noting the company has assembled top oceanographers, scientists, and engineers to explore leases in the Cook Islands and U.S. jurisdictions in international waters.
A core component of this strategy relies on harvesting polymetallic nodules. These nodules provide a rich, diversified basket of the critical minerals required for modern batteries, energy systems, and advanced manufacturing, including:
- Cobalt
- Nickel
- Copper
- Rare Earths
- Manganese
- Iron and Titanium
Albanese emphasized that AOM is focused on "properly exploring, properly evaluating, and properly bringing into production the minerals that America so desperately needs."
A full replay of Chairman Albanese's interview is available on Fox Business: Watch the Replay Here