China Leading the Deep Sea Mining Race
value of the ore at a point of extraction ... The middle range is 4% to 6% ad valorem royalty, potentially increasing over time," Lodge said.If the rules are approved, it could take about two to three years to obtain permits to start deep sea mining under the current draft, Lodge said.Canadian Nautilus Minerals had tried to mine underwater mounds for copper and gold in the national waters off Papua New Guinea, but it run out of money and had to file for creditor protection earlier this year.This has not deterred others, such as Global Sea Mineral Resources (GSR), a unit of Belgian group DEME, and
Subsea Mining: The Next Big Thing for UUVs
gamut of mining-support tasks.High-stakes opsSome high-capital mining and subsea players have already surged ahead, if mostly in the dredging of coastal zones. Earlier out than Norway, Papua New Guinea, Japan and the Cooke Islands have created rules to govern this nascent industry.Toronto-listed Nautilus Minerals is deeply involved in the Bismarck Sea project, Solwara 1, where the world’s first, large-scale, deep-sea mining project at depths of 1,600 meters targets copper that’s nearly 14 times richer than that found on land. A large new vessel is being built for an undertaking that&rsquo
Exploring Deep-seafloor Mineral Deposits
and its surrounding environment.This project forms part of the NOC’s ongoing research into seafloor resources and is a collaboration with the British Geological Survey (BGS), the Universities of Southampton, Cardiff and Leeds, Memorial University in Canada, as well as Oxford Museum, GEOMAR, Nautilus Minerals, VNIIOkeangeologia from Russia, and SMD Ltd
India Plans Deep Dive for Seabed Minerals
India to explore an area in the Indian Ocean of 75,000 square kilometers (about 29,000 square miles), equal to roughly 2 percent of the country's size.Moon, Mars... and the OceanOnce thought to be too costly and difficult, industrial-scale sea mining could begin as early as 2019.Canada's Nautilus Minerals is on track to become the first company to start operations, which it plans to launch near the Pacific island nation of Papua New Guinea, according to a company statement.All countries are as yet in the experimental or exploratory phase, and the ISA is still hammering out regulation and royalty
Nautilus Minerals to Acquire Production Support Vessel
The underwater mineral exploration company headquartered in Toronto Nautilus Minerals Inc. is currently negotiating the terms of an agreement with arm's length third parties that would involve the creation of a new joint venture company - Vessel JV - to be owned by the third parties and Nautilus’ subsidiary, Nautilus Minerals Niugini Limited (NMN).The purpose of the Vessel JV would be to fund the acquisition of the Production Support Vessel (PSV) that Nautilus had previously arranged to be procured through MAC Goliath Pte Ltd (MAC) and the integration costs of installing the mining equipment
China Plumbs Ocean Depths for Cobalt
Service said in an email. "Production is a few years away."Miner-trader Glencore has a stake in DeepGreen which would eventually give Glencore 50 percent of any copper and nickel output.Glencore declined to comment and DeepGreen had no immediate comment.So far only Canadian-listed firm Nautilus Minerals has gone beyond the exploration stage to try and mine off the coast of Papua New Guinea, for copper, gold and silver, but it been slowed by funding issues and local opposition.Anglo American sold its 4 percent stake in Nautilus in May, as part of efforts to retain only its most profitable assets
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
Nautilus Minerals Chairman Retires
Nautilus Minerals Inc. announced that its Chairman of the Board of Directors, A. Geoffrey Loudon, will retire and not stand for reelection at the company’s upcoming annual General meeting on June 1, 2016. Loudon has been Chairman of the Board of Directors since the company listed on the Toronto Stock Exchange in 2006, and for the 10 years prior to that, was a founding investor and active participant in the development and growth of the company. The Board of Directors has appointed Russell Debney as interim Chairman in place of Loudon, effective immediately. Debney has been a
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
August 2025
