Nautilus Minerals to Test Seafloor Mining Tools
Nautilus Minerals to Trial Seafloor Mining Tools Canada based Nautilus Minerals Inc. said its Seafloor Production Tools have arrived in Papua New Guinea (PNG), and will shortly commence submerged trials. Nautilus’ CEO Mike Johnston said, “We are delighted to 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
Subsea Mining: Nautilus to Wet Test Seafloor Production Equipment
functions • Collection system functions • Survey and visualization systems On completion of the wet testing, the SPTs will be stored at UES facilities in Duqm, Oman for preservation and maintenance until integration on the PSV which is expected to occur in 2017. Mike Johnston, Nautilus' CEO, commented, "It is very exciting to have the SPTs all fully assembled as we prepare for wet testing. We appreciate the ongoing support from our largest shareholder, MB Holding Company LLC, who is assisting us with the wet testing and provision of storage facilities in Oman
Seafloor Massive Sulphide Mining Project Advances
a mutually beneficial and workable arrangement, the parties finalized the terms of a new take or pay agreement, referred to as the Master Ores Sales and Processing Agreement, which replaces the terms of the HOA. The MOSPA will be filed under the company's profile on the SEDAR website. Mike Johnston, Nautilus' CEO, said "This new agreement provides improved terms for both Nautilus and Tongling and can be truly described as a “win-win” outcome. The MOSPA gives greater flexibility to Tongling with respect to its operations, while providing Nautilus with certainty and
Nautilus Awards Contract for Dewatering Plant Design
Nautilus Minerals Inc. has awarded a contract for the design of the Solwara 1 dewatering plant to be used on the company’s production support vessel to the Brisbane office of engineering specialist DRA Group. Nautilus CEO, Mike Johnston, commented, "The project team has been working closely with DRA for several years on studies and early engineering. DRA has extensive experience with similar floating dewatering/mineral processing facilities in related offshore industries. We are pleased to have them utilize this experience when they carry out the detailed design for our on
MacGregor Cranes for First Subsea Mining vessel
under long-term charter to Canadian seafloor exploration company Nautilus Minerals Inc. The MacGregor order consists of two knuckle boom cranes; a 200t active heave-compensation (AHC) subsea crane with the capability to operate to a depth of 2,500m, and a smaller 100t subsea crane. Mike Johnston, CEO of Nautilus Minerals, says, "We are very pleased to have such a world class supplier providing key equipment for use on our Production Support Vessel. The cranes are an essential component in ensuring operations can be performed safely across all of our large working deck areas. We
Siemens Wins Vessel Electrical Installation Contract
Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd., a wholly owned subsidiary of Siemens AG. Nautilus CEO, Mike Johnston, commented, “The electrical package marks the fourth major long lead time package to be awarded by the shipyard, Fujian Mawei Shipbuilding. We are especially pleased to be partnering with another world class, global company such as Siemens. Their involvement with our first seafloor production system, along with
Nautilus Minerals Begins Auxiliary Cutter Commissioning
Nautilus Minerals Inc. informed that the commissioning and factory acceptance testing of its third and final Seafloor Production Tool (SPT), the Auxiliary Cutter, has commenced at Soil Machine Dynamics’ facility at Newcastle upon Tyne, U.K. Nautilus' CEO, Mike Johnston said “With the Bulk Cutter and the Collecting Machine having already begun Factory Acceptance Testing and now with the Auxiliary Cutter underway, we are on track to complete this testing phase and take delivery of the three SPTs in Q4 2015." When fully assembled, the Auxiliary Cutter will weigh
Nautilus Moves Closer to Securing Escrowed Funds
Limited, paying $113 million into escrow for its 15% interest in the Solwara 1 Project up to first production, Nautilus was to secure for the State’s nominee certain intellectual property rights and the charter of a Production Support Vessel in order for the escrowed funds to be released. Mike Johnston, the company’s CEO commented, “Nautilus is pleased it has satisfied the first of the conditions precedent by securing the intellectual property rights required by the State and is now one step closer to securing the release of the escrowed funds. Discussions remain on track
SMD Begins Auxiliary Cutter Assembly
Nautilus Minerals Inc. will begin assembling its third and final Seafloor Production Tool (SPT), the Auxiliary Cutter (AC), this week at Soil Machine Dynamics’ (SMD) facility in Newcastle in Tyne, UK. Nautilus' CEO, Mike Johnston said “we are pleased that the assembly of the AC, the third and final of the three SPTs has now commenced, with the arrival of the chassis at the SMD facility. The next milestone for the SPTs will be the commencement of Factory Acceptance Testing on the already assembled Bulk Cutter (BC). We look forward to reporting on this progress next month”. When
February 2024
