R/€ = 14.88 Change: 0.00
R/$ = 12.10 Change: 0.00
Au 1335.58 $/oz Change: -5.52
Pt 927.50 $/oz Change: -4.49


Nautilus receives further bridge loans as SPV launches in China

By: Henry Lazenby     4th April 2018 Seafloor mining pioneer Nautilus Minerals continues to secure bridge financing from Deep Sea Mining Finance, with the latest advance of $3-million bringing the loans to date to $9.65-million, the company said on Tuesday. The bridge loans are expected to form part of a larger secured structured... 

Nautilus PEA outlines the low-cost production potential of Solwara 1

By: Henry Lazenby     2nd March 2018 Toronto-based Nautilus Minerals has published a new preliminary economic assessment (PEA) for its Solwara 1 seafloor copper/gold project, located in the Bismarck Sea offshore Papua New Guinea (PNG). The Toronto-based prospective marine miner reported an undiscounted after-tax net cash flow of... 

Nautilus completes production tools sea trials in PNG

By: Henry Lazenby     16th February 2018 Marine mining pioneer Nautilus Minerals has successfully completed submerged trials for its seafloor production tools (SPTs), in Papua New Guinea. "The overarching objective of the trials was to ensure that all three machines met the requirements of their respective functional design... 

Money hungry Nautilus weighs funding options as project challenges mount

By: Henry Lazenby     22nd December 2017 Marine mining pioneer Nautilus Minerals is in active discussions with a range of potential financiers and shareholders to secure the funding required to start mining the Solwara 1 project, offshore Papua New Guinea (PNG), the company said on Thursday. The company has thus far been unsuccessful to... 

Deep sea mining viability gets boost as prices rise, land-based ore depletes

By: Natasha Odendaal     27th October 2017 As demand for rare earths and precious minerals increase amid a drive towards a low-carbon economy, depleting land-based reserves are increasingly boosting the commercial viability and attractiveness of the “last frontier” of deep sea mining. With growing demand driving the prices for copper,... 

Growth in copper supply to slow through 2020 – ICSG

By: Henry Lazenby     24th February 2017 Global copper mine production growth is expected to slow to 2.5% a year through 2020, down from an average growth rate of almost 4% a year in the last five years, the International Copper Study Group (ICSG) said on Thursday. The Lisbon, Portugal-based think tank cited continued delays in project... 

Cash-strapped Nautilus to lay off workers, cancel contracts for delayed Solwara 1 

By: Henry Lazenby     16th August 2016 Despite having $51.3-million in its coffers as at the end of June, marine mining pioneer Nautilus Minerals on Monday announced that it would implement several measures aimed at preserving the company’s capital position while it seeks to secure further project financing. The TSX-listed company... 

Nautilus takes delivery of seafloor production tools

By: Creamer Media Reporter      2nd February 2016 Marine-mining pioneer Nautilus Minerals on Monday announced that the Solwara 1 Joint Venture (comprising Nautilus 85% and Eda Kopa (Solwara) Limited 15%) has taken delivery of the three seafloor production tools (SPTs) from British manufacturer Soil Machine Dynamics’ (SMD) facility, in Newcastle... 

Nautilus and Chinese offtake partner shake hands on new ‘win-win’ master agreement

By: Henry Lazenby     12th December 2015 Prospective ocean floor miner Nautilus Minerals has signed a new sales agreement with China-based Tongling Nonferrous Metals Group for the ores extracted from the company’s Solwara 1 deposit, located in the Bismarck Sea offshore Papua New Guinea, with first delivery expected in the first half of... 

While first steel gets cut for Nautilus’s support vessel, critics ramp up opposition 

By: Henry Lazenby     29th September 2015 Steel cutting for deep-sea mining pioneer Nautilus Minerals’ production support vessel started last week while environmentalists ramped up protests against the project, citing flawed environmental and social benchmarking analysis (ESBA) for the Solwara 1 copper/gold/zinc/silver project, in the... 

Nautilus Mining awards vessel dewatering plant design contract

By: Henry Lazenby     30th July 2015 Prospective seafloor miner Nautilus Minerals has awarded a contract for the detailed design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane office of global consulting engineering firm DRA Group. The scope of work awarded to DRA involved the... 

Nautilus Minerals agrees to stretch PNG State JV-partner options

By: Henry Lazenby     11th June 2015 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     1st June 2015 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     20th April 2015 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     24th February 2015 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     30th January 2015 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     12th December 2014 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     6th November 2014 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     23rd April 2012 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     9th March 2012 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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