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Nautilus Minerals agrees to stretch PNG State JV-partner options

By: Henry Lazenby The Independent State of Papua New Guinea (PNG) would have another six months to exercise stock options that Canadian marine mining leader Nautilus Minerals had granted to its joint venture (JV) partner in the Solwara 1 offshore project. Under terms of a December 11 JV accord, the country’s... 

Marine mining could possibly reduce social and environmental impacts of terrestrial operations

By: Henry Lazenby An independent report on Nautilus Minerals’ Solwara 1 project, offshore Papua New Guinea, has found that the project has the potential to significantly reduce social and environmental impacts commonly associated with large surface terrestrial copper mines. Toronto-based Nautilus had commissioned... 

Siemens awarded entire Nautilus Minerals support vessel electric contract

By: Henry Lazenby Prospective marine miner Nautilus Minerals has awarded Siemens International Trading (Shanghai), a subsidiary of Siemens, the entire electrical installation contract for its support vessel currently being designed and built by Fujian Mawei Shipbuilding, in Fujian province, in south-eastern China.... 

Commissioning of Nautilus Minerals’ third marine-mining machine starts

By: Henry Lazenby Canadian marine-mining hopeful Nautilus Minerals on Monday reported that it had started commissioning and factory acceptance testing of the third seafloor production tool (SPT), the auxiliary cutter, at engineering firm Soil Machine Dynamics’ facility, at Newcastle upon Tyne, in the UK. The... 

Second of three marine mining machines completed for Nautilus Minerals

By: Henry Lazenby The second of three seafloor production tools (SPTs) needed by marine mining project developer Nautilus Minerals to mine high-grade polymetallic seafloor massive sulphide deposits at 1 600 m below the surface of the Bismarck Sea, offshore Papua New Guinea (PNG), has been completed. The TSX-listed... 

Nautilus receives PNG funds from escrow, forms Solwara 1 JV

By: Henry Lazenby Prospective marine miner Nautilus Minerals on Thursday formed a joint venture (JV) company with Papua New Guinea’s (PNG’s) nominee Eda Kopa (Solwara) to mine high-grade polymetallic seafloor massive sulphide deposits at 1 600 m below the surface of the Bismarck Sea, offshore PNG, within the... 

Nautilus Minerals secures vessel charter

By: Henry Lazenby Seafloor-mining pioneer Nautilus Minerals on Thursday reported that it had secured a vessel charter to be deployed at the Solwara 1 copper/gold project, offshore Papua New Guinea (PNG). Dubai-based marine solutions company Marine Assets Corporation (MAC), which specialises in delivering new-build... 

Nautilus seals offtake deal for Solwara 1 deposit

By: Henry Lazenby Marine miner Nautilus Minerals has signed an offtake agreement with Chinese firm Tongling Nonferrous Metals for the product extracted from its Solwara 1 copper/gold deposit, off the coast of Papua New Guinea. "We have now closed the value chain on the project, established our first customer for... 

Nautilus eyes up to $100m in funding requirements

By: Matthew Hill While Nautilus Minerals, aiming to become the first deep-sea metals producer by the end of next year, still needs to raise $90-million to $100-million to fully fund the project, it has about two years to do so, CEO Steve Rogers said on Thursday. The Aim- and TSX-listed company last year... 

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