Nautilus Minerals has announced that a shipbuilding contract between contractor Marine Assets Corporation (MAC) and shipyard Fujian Mawei Shipbuilding has been rescinded.
Nautilus Minerals has entered a $US34 million ($45 million) agreement with lender Deep Sea Mining Finance for deep sea mining development in Papua New Guinea.
Nautilus Minerals’ long-in-development Solwara 1 deep sea mining project, located in offshore Papua New Guinea, has fond itself the topic of local legal action against the PNG Government.
Deep-sea mining has a storied history; people have been attempting to tap the mineral potential of the Earth’s oceans for decades, with mixed results. As far back as the 1960s, interested parties have explored the concept with research vessels; the discovery of hydrothermal vents, which spew mineral-rich deposits from fissures in the earth’s surface.
Nautilus has taken delivery of three seafloor mining tools for its underwater Solwara 1 project.
A new report has shown that subsea copper mining is more sustainable than terrestrial mining.
Rolls Royce has won a deal to supply six generators for the world’s first specialised seabed mining vessel.
Despite an impasse with the Papua New Guinean government for its Solwara 1 underwater mining project, Nautilus Minerals is going back to the market.
Nautilus Mining CEO, Michael Johnston,walks shareholders through the various points of contention between it, the PNG government and the launch of its Solwara 1 mining project.
A Papua New Guinea MP has urged the local Government to speed up development at Nautilus Minerals’ troubled seabed mining operation north of Australia.
Fasken Martineau, a major law firm for the mining industry, denies any relationship with hostile takeover or its proponent Michael Bailey.
Prospective deep sea miner Nautilus Minerals has denied reports of a hostile takeover bid for the company, raising speculation it may have fallen victim to a stock market hoax.
Nautilus Minerals has decided to terminate the construction of equipment for its seafloor production system in the development of the Solwara 1 Project off the Papa New Guinea coast.