By Elham Shabahat for MongaBay The high cost of studying deep-sea ecosystems means that many scientists have to rely on funding and access provided by companies seeking to exploit resources on the ocean floor. More than half of the scientists in the small, highly specialized deep-sea biology community have worked with governments and mining companies […]
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After nearly two decades of promise and two years of confusion and uncertainty, it looks like the curtain has finally closed on Solwara I and Nautilus Minerals. In the mid-2000’s, Nautilus Minerals made their mark as the first commercial venture to explore seafloor massive sulphides for potential mineral extraction. In the early 2010’s the company […]
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2019 was a landmark year for deep-sea mining. As the 25th anniversary of the International Seabed Authority, the pressure was on to advance the industry from promise to production. The surge in cobalt prices in 2018 led to renewed interest in new sources of this essential but often troubled resource but also yielded a precipitous […]
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Last week saw the conclusion of the 25th Session of the International Seabed Authority. Though much progress was made, significant work still lies ahead to meet to self-imposed 2020 deadline for implementing the draft exploitation regulations. As always, the Earth Negotiations Bulletin has provided a comprehensive summary of the overall meeting as well as day-to-day […]
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The slow decline of Nautilus Minerals continues without much change. I reached out to several contacts both at Nautilus’s corporate offices and to colleagues within Papua New Guinea. Since last month, most of the board of directors and the current CEO have resigned, Nautilus was delisted from the Toronto stock exchange, and previously responsive sources […]
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Radio New Zealand | 9 April 2019 Last week, Nautilus Minerals had its common shares delisted from the Toronto Stock Exchange (TSX) even as it seeks to sell off its assets. In a note to the TSX last Wednesday, the company said four of its directors had resigned, including chief executive John McCoach. Read the […]
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Radio New Zealand | 1 April 2019 The company behind a troubled deep sea mining project in Papua New Guinea has suffered another blow in its delisting from a major stock exchange. Read the full article here: PNG seabed mining company delisted from stock exchange.
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Last month brought grim news for the struggling Nautilus Minerals, once hailed as the world’s first viable deep-sea mining company. While ISA delegates were gathered in Jamaica, news broke that Nautilus secured relief from its creditors while it sought to restructure the company. Nautilus’s assets, including equipment, intellectual property, and mining leases are being auctioned […]
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VANCOUVER, British Columbia, Feb. 07, 2019 (GLOBE NEWSWIRE) — Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the “Company” or “Nautilus“) and Deep Sea Mining Finance Ltd. have agreed to extend the maturity date of the existing secured loan facility which is currently due on February 8, 2019, for 28 days ending on March 8, 2019. The […]
Read More Vancouver, British Columbia, January 8, 2019 – Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the “Company” or “Nautilus“) provides the following corporate update. Nautilus and Deep Sea Mining Finance Ltd. have agreed to extend the maturity date of the existing secured loan facility which is currently due on January 8, 2019, for 30 days ending on February […]
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