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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... 

PNG government will take 30% of Nautilus project

By: Liezel Hill The government of Papua New Guinea will exercise its right to a 30% stake in Nautilus Minerals' Solwara 1 undersea copper/gold project, the company said on Monday. Nautilus will keep a 70% in a joint venture that will be set up with the government, and the State will pay its share of the project... 

Nautilus says it's found a second high-grade undersea copper deposit

By: Liezel Hill Nautilus Minerals, which was awarded the world's first deep-sea mining lease last month by the government of Papua New Guinea, said on Friday it has identified a second potential development project in the Bismarck sea. “A deepwater exploration drilling campaign carried out at the Solwara 12... 

Nautilus shares jump after undersea mining permit granted  

By: Liezel Hill Shares in TSX- and Aim-listed Nautilus Mining leapt more than 21% in Toronto on Monday, after the company announced it had received the world's first deep-sea mining lease from the government of Papua New Guinea, for the firm's Solwara 1 project in the Bismarck Sea. The 20-year lease covers an... 

Nautilus expects to unveil project partner soon

By: Matthew Hill TSX- and AIM-listed Nautilus Minerals, hoping to mine the seafloor up to 1 600 m below the surface off the Papua New Guinea coast, will announce its partner this month, CEO Steve Rogers said on Thursday. The company had been in talks with prospective partners in its flagship Solwara 1 licence... 

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