Nautilus Minerals NUSMF (NUSMF)

[Crispy_2014]

Nautilus Minerals pressing ahead with controversial deep sea mining project in PNG

The planned undersea mining project, Solwara 1, in Papua New Guinea is entering the first underwater testing stage.

Despite being beset by financial problems, Nautilus Minerals is pressing ahead with plans to mine the sea bed off New Ireland and East New Britain starting in 2018.

Nautilus Minerals chief executive Mike Johnston says equipment manufactured in the UK has arrived and submerged trials are about to take place on Motukea Island, near Port Moresby.

He says the equipment has been modified to do less long term damage to the sea floor.

Nautilus Minerals pressing ahead with controversial deep sea mining project in PNG http://www.abc.net.au/news/programs/pacific-beat/2017-04-18/nautilus-minerals-pressing-ahead-with/8448984