Despite cash crunch, Nautilus production support vessel construction continues apace
VANCOUVER (miningweekly.com) – Despite significant delays to Nautilus Minerals’ production schedule, and a cash crunch having sent it into hibernation, construction of the Canadian marine-mining hopeful's production support vehicle (PSV) is progressing in China.
Toronto-headquartered Nautilus on Thursday reported construction of the PSV by Fujian Mawei Shipyard (FMSL) and Marine Assets Corporate (MAC) continued, with about 60% of the vessel’s steel blocks having completed erection in the dry dock.
According to Nautilus, the thruster rooms (aft hull blocks) have recently been lifted into position on the vessel. The accommodation module construction is progressing rapidly with many blocks being assembled alongside the dry dock. It is expected to be lifted onto the vessel by the end of the month.
“We are now looking forward to progressing the final build phase and fit out of the vessel with the team at FMSL and MAC," stated president and CEO Mike Johnston.
Nautilus had in September announced a revised work programme, pending the company successfully raising the required capital by June 2017. It entails a more staged approach, moving the Nautilus equipment integration phase of vessel construction out until after the vessel has been delivered by FMSL and MAC in the fourth quarter of 2018, resulting in a 12-month delay to the original schedule and pushing first production out to the first quarter of 2019.
The company’s objective is still to develop the world's first commercial high-grade seafloor copper/gold mine and launch the seafloor resource production industry.
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