Radio New Zealand | 27 December 2018 A troubled deep sea mining project in Papua New Guinea has been given a loan of nearly $US500,000. Nautilus Minerals plans to mine the floor of the Bismarck Sea between New Ireland and New Britain. The Canadian company has faced opposition from environmental and community groups, and has […]
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David Hutt for Monga Bay | 26 December 2018 An ambitious plan to mine precious minerals from the ocean floor off the coast of Papua New Guinea looks to have run aground due to the developer’s financial problems. In 2011, the government of Papua New Guinea granted Canada-based Nautilus Minerals a 20-year mining license covering […]
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2018 was supposed to be the year for Nautilus Minerals. Their three seafloor production tools—large underwater robots capable of mining seafloor massive sulphides from 1600 meters depth—were finally in hand and undergoing submerged testing. Their ship, the Nautilus New Era, was nearing completion. They had only a few hurdles left to clear before beginning production […]
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Australian Mining | 12 December 2018 Nautilus Minerals’ production support vessel (PSV) has been acquired by Indian company MDL Energy in a blow to Nautilus’ deep-sea mining plans. The in-construction PSV is a cornerstone of the Canadian company’s plans for its Solwara 1 deep sea mining project in Papua New Guinea. The Solwara 1 project […]
Read More Daniel Gleeson for International Mining | 12 December 2018 Ocean Energy Ventures (OEV), a subsidiary of the MDL Energy group of companies, together with Quippo Oil and Gas, has acquired the newly built production support vessel previously destined for Nautilus Minerals and its Solwara 1 copper-gold marine mining project off the coast of Papua New […]
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The Economist | 5 December 2018 AFTER LISTING on the Toronto stock exchange in 2006 Nautilus Minerals became the public face of a daring new industry: deep-sea mining. It planned to pursue riches on the ocean floor, mining metals such as gold, zinc and copper, desired respectively for lustre, alloys and electronics. Robotic machines would […]
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Mining Journal | 7 December 2018 Marine mining pioneer Nautilus Minerals jumped 20% in Toronto this week after it revealed plans to form a new joint venture with arm’s length third parties to fund completion of its production support vessel (PSV) in China. Read the full article here: Nautilus jumps on possible support vessel reprieve.
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Radio New Zealand | 15 October 2018 On Thursday last week, a magnitude 7.0 quake struck off the south coast of New Britain island, the second major quake in the area this year. Meanwhile, Canadian company Nautilus Minerals is pushing ahead with its Solwara 1 project, which will dredge the seafloor between the islands of New […]
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Toronto Ontario, August 14, 2018 – Nautilus Minerals Inc. (TSX:NUS, OTC:NUSMF Nasdaq Intl Designation) (the “Company” or “Nautilus”) announces that the Company has received a loan from Deep Sea Mining Finance Ltd. (the “Lender”) in the principal amount of US$825,000 under the previously announced loan agreement (the “Loan Agreement”) between the Company, two of its […]
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The last half year was a tough one for Nautilus Minerals. In December, their ship contractor defaulted on payments to the production support vessel and construction was halted following contract resolution. This was followed in July by notification that the shipbuilding contract had been cancelled. In May, they lost the support of Anglo American, who […]
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