Nautilus Minerals to Test Seafloor Mining Tools
be undertaking submerged trials in PNG. The trials will result in money and investment going into the PNG economy, and the employment of Papua New Guineans in state-of-the-art technology which are some of the key benefits of seafloor production. The trials also allow us to work closely with our partner Petromin, government officers from the various government agencies, as well as representatives from Provincial Governments of New Ireland and East New Britain.” The submerged trials will take place in an existing facility on Motukea Island, near Port Moresby in PNG. Nautilus was granted
Nautilus Seafloor Production Tools Arrive in Oman
Nautilus Minerals Inc. announced, on behalf of the Solwara 1 Joint Venture (comprising Nautilus 85 percent and Eda Kopa (Solwara) Limited 15 percent, a subsidiary of Petromin Holdings PNG), that the three Seafloor Production Tools (SPTs) have arrived safely at Duqm Port in Oman. The three SPTs are scheduled to undergo extensive wet testing at Duqm Port. The testing is one of the next major steps in the progession towards seafloor production, and will involve submerged testing of: Control systems operations and feedback Hydraulic functions Collection system functions Survey and
Deep Sea Mining Agreement Reached
step represents a major vote of confidence in Nautilus Minerals and the Solwara 1 Project. Through this joint venture, the State will provide a significant capital investment and will retain a direct interest in the long term success of the Project. We look forward to working closely with the State and Petromin on Solwara 1, which will generate significant economic activity within the State and the Province of New Ireland," he said. Under the agreement, the state will take an initial 15% interest in the project with an option to take up to a further 15% interest within 12 months of the agreement
February 2024
