
Ex-Rio boss bets big on ocean floor mining in US$1bn deal

Former Rio Tinto chief executive Tom Albanese will merge with Nasdaq-listed Odyssey Marine Exploration through his American Ocean Minerals Corporation in a US$1 billion (A$1.417 billion) all-stock deal, creating one of the largest United States-aligned portfolios of underwater mineral deposits. Odyssey shares rocketed almost 120% on the announcement. The combined entity will target polymetal














