http://www.miningweekly.com
R/€ = 15.50 Change: 0.00
R/$ = 13.28 Change: 0.00
Au 1241.67 $/oz Change: 0.11
Pt 828.50 $/oz Change: -3.93
 

Topic

Nautilus secures additional loan from Deep Sea Mining

By: Creamer Media Reporter      12th July 2018 TSX-listed Nautilus Minerals on Thursday announced that it had received a loan from Deep Sea Mining Finance for $650 000, under a previously announced credit facility of up to $34-million between the company, two of its subsidiaries and the lender. Pursuant to the agreement, Nautilus has issued... 

Nautilus secures $34m loan to progress Solwara 1 project

By: Marleny Arnoldi     11th June 2018 TSX-listed Nautilus Minerals has entered into a loan agreement with Deep Sea Mining Finance, formalising the previously disclosed secured structured credit facility of up to $34-million.  

Nautilus starts wet testing programme for new seafloor diamond drill rig

By: Simone Liedtke     7th June 2018 TSX-listed Nautilus Minerals has started wet testing of its new seafloor diamond drill rig, which it developed to relieve the drilling requirements of its future exploration programmes. The rig, nicknamed the “Hobbit” scout rig, has so far successfully met design targets in a series of land-based... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Canada’s Nautilus aiming to start marine mining in 2019 despite enviro concerns

By: Dylan Slater     1st June 2018 Deep-sea mining is yet to become a major mining activity, and not much is known about undersea deposits of minerals. However, some role-players in the mining industry are claiming that the deep-sea floor could be host to an abundant and untapped resource of highly sought-after commodities, which... 

Nautilus unveils spider-inspired sediment sampler

By: Henry Lazenby     25th May 2018 Marine mining pioneer Nautilus Minerals has unveiled a new autonomous sediment sampler called the 'Nautilus Jumping Spider’ for use in sampling deep-sea deposits, that could cut exploration costs “by an order of magnitude”, the company reported on Thursday. Nautilus said it has successfully... 

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 rises as vessel construction passes 75% completion mark

By: Henry Lazenby     20th February 2018 The TSX-listed equity of marine mining pioneer Nautilus Minerals has gained nearly 44% since the start of the year, adding about 7% on Tuesday alone on news that construction of its production support vessel has passed the 75% completion mark. Under construction at the Fujian Mawei Shipyard, in... 

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... 

Nautilus production equipment exceeding design specs

By: Henry Lazenby     30th January 2018 Testing of the fleet of underwater machines that marine mining pioneer Nautilus Minerals will use to mine the Solwara 1 gold/copper project, offshore Papua New Guinea (PNG), has so far delivered results meeting or exceeding design parameters, the company recently reported. Headquartered in... 

Nautilus secures bridge loans, inks new funding mandate

By: Henry Lazenby     9th January 2018 Marine mining hopeful Nautilus Minerals has arranged bridge financing of about $7-million from Deep Sea Mining Finance, to assist the company's immediate working capital requirements. The loans will also allow the Canadian company to make the payments required to continue with the development of... 

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... 

Advancing technology signals imminent opening of undersea mineral treasure chest

By: Henry Lazenby     29th August 2017 In a new era of ever-advancing technology and increased legal certainty, ocean floor mining is set to take off in the next decade as several juniors jostle to be first to exploit the wealth hidden on the deep ocean floor. DeepGreen Resources chief development officer Anthony O’Sullivan believes... 

Nautilus completes $2-million private placement

By: Natasha Odendaal     7th August 2017 TSX-listed Nautilus Minerals has closed its $2-million private placement under a subscription agreement with Mawarid Offshore Mining and Metalloinvest. The company issued an aggregate of 11.76-million common shares at an issue price of C$0.21 a share. 

Nautilus to test seafloor production tools in PNG submerged trials

By: Henry Lazenby     4th April 2017 Marine mining hopeful Nautilus Minerals will shortly start submerged testing of its fleet of seafloor production tools, following the equipment’s arrival in Papua New Guinea (PNG). "We are delighted to be undertaking submerged trials in PNG. The trials will result in money and investment going... 

Sea search for metal is Japan’s answer to land that has none

By: Bloomberg     10th August 2016 As deep as 1 600 m under water and 1 500 km from Tokyo, work has begun on the new hunting ground for metals in Japan, a country so devoid of natural resources that most of what it needs has to be imported. As the island nation depleted most of its land-based minerals in the economic boom that... 

Nautilus ready to wet-test seafloor production equipment

By: Henry Lazenby     18th January 2016 Seabed mining company Nautilus Minerals has signed agreements with engineering firm United Engineering Services (UES) to provide support services associated with wet testing the company’s seafloor production tools (SPTs) and storing the equipment as it gets delivered from various suppliers before... 

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... 

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.... 

Engineering firm completes umbilical winches for Nautilus Minerals' deep-sea fleet

By: Henry Lazenby     24th March 2015 Canadian marine mining project developer Nautilus Minerals on Tuesday said a British engineering firm had successfully completed factory acceptance testing of the umbilical winches for three seafloor production tools (SPTs). UK-based Soil Machine Dynamics designed and built the umbilical winches,... 

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... 

$113m to be released to Nautilus next month on completion of State agreement

By: Leandi Kolver     28th November 2014 Prospective seafloor miner Nautilus Minerals on Friday announced that $113-million that had been placed into escrow in May, would be released to the company on December 11, on the completion of the sale of 15% of its Solwara 1 project, offshore Papua New Guinea, to Eda Kopa (Solwara), which had... 

Nautilus Minerals steps closer to releasing PNG funding

By: Henry Lazenby     22nd October 2014 Prospective seafloor miner Nautilus Minerals has satisfied one of the conditions precedent to releasing $113-million, which its project partner – the Papua New Guinea government – had paid into escrow in May, representing the balance of the State’s 15% share of capital required to complete the... 

Nautilus starts building second underwater machine

By: Henry Lazenby     28th May 2014 Prospective Canadian deep-sea miner Nautilus Minerals on Wednesday announced that it had started building its second seafloor production tool (SPT), the collecting machine (CM), at third-party manufacturer Soil Machine Dynamics’ (SMD's) facility at Newcastle upon Tyne, in the UK. Nautilus, which... 

Development of deep-seabed mining rules under way

By: Schalk Burger     28th February 2014 In its 2014 session, held in February, world regulatory body the International Seabed Authority’s (ISA’s) Legal and Technical Commission was preparing draft regulations for the exploitation of polymetallic nodules in three areas approved for deep-seabed exploration worldwide. The first of the... 

Development of deep-seabed mining rules under way

By: Schalk Burger     28th February 2014 In its 2014 session, held in February, world regulatory body the International Seabed Authority’s (ISA’s) Legal and Technical Commission was preparing draft regulations for the exploitation of polymetallic nodules in three areas approved for deep seabed exploration worldwide. The first of the... 

Nautilus terminates equipment build for PNG project, shares plunge 

By: Henry Lazenby     13th November 2012 Aspirant marine miner Nautilus Minerals has put its plans to be the first seafloor copper/gold miner off the coast of Papua New Guinea (PNG) on ice by terminating its equipment build programme, as a dispute over contractual obligations with the government dragged on. The company’s announcement... 

Nautilus continues to develop seafloor system despite arbitration

By: Henry Lazenby     2nd August 2012 Aspirant seafloor miner Nautilus Minerals announced that it was to raise C$34-million to complete the development of its proprietary seafloor production system, which it intends to use in its Solwara 1 copper/gold project off the coast of Papua New Guinea (PNG). The placement would involve... 

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... 

First
Prev
1
Next
Last

Latest News

more

Latest Videos

more

About

Mining Weekly is a product of Creamer Media.
www.creamermedia.co.za

Other Creamer Media Products include:
Engineering News
Research Channel Africa
Polity

Read more

Subscriptions

We offer a variety of subscriptions to our Magazine, Website, PDF Reports and our photo library.

Subscriptions are available via the Creamer Media Store.

View store

Advertise

Advertising on MiningWeekly.com is an effective way to build and consolidate a company's profile among clients and prospective clients. Email advertising@creamermedia.co.za

View options
Free daily email newsletter Register Now
Close