Lockheed Martin (NYSE:LMT) is in early-stage discussions with multiple mining companies about providing access to its Pacific Ocean seabed mining licenses, the Financial Times reported Monday, as the U.S. races to increase domestic production of critical minerals.

Lockheed (NYSE:LMT) COO Frank St. John told FT that the company recently has garnered significant interest in its exploration rights, which were first granted by the U.S. government in 1984.

St. John did not reveal the potential value for the deposits Lockheed (LMT) controls, but said mining companies have “done the homework and determined there is value there.”

“We are in early stages of conversations with several companies about giving them access to our licenses and allowing them to process those materials,” the COO said.

The news comes several months after President Trump signed an executive order fast-tracking the exploration and permitting process for critical minerals found in seabeds.

Last week, the National Oceanic and Atmospheric Administration issued a proposed rule to revise existing regulations for exploration licenses and recovery permit applications, including digitizing and consolidating much of the regulatory process.

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