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
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
New Seafloor Production Tools for Nautilus
Nautilus Minerals Inc. announced that the Solwara 1 Joint Venture (comprising Nautilus 85 percent and Eda Kopa (Solwara) Limited 15 percent) has taken delivery of the three Seafloor Production Tools (SPT) from Soil Machine Dynamics Limited’s (SMD) facility in Newcastle upon Tyne. The three SPTs are now en route to Oman, where they are scheduled to undergo extensive wet testing at Duqm Port. The Company plans to use the SPTs to cut and extract high grade copper and gold from the seafloor at the Solwara 1 Joint Venture’s project site in the Bismarck Sea, Papua New Guinea, with
Seafloor Massive Sulphide Mining Project Advances
Nautilus Minerals Inc. (TSX:NUS, OTCQX: NUSMF, OTC:NUSMF Nasdaq Intl Designation) announced it signed a new agreement with Tongling Nonferrous Metals Group Co. Ltd (“Tongling”) for the sale of the product extracted from the Company’s Solwara 1 deposit located in the Bismarck Sea of Papua New Guinea, with first delivery expected in the first half of 2018. On April 21, 2012, Nautilus and Tongling entered into a binding heads of agreement for the sale of the product extracted from the Solwara 1 deposit. Following a series of detailed negotiations focused on achieving a
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
. The 227m production support vessel has a beam of 40m. It has been designed by Singapore's SeaTech Solutions for Dubai-based owner Marine Assets Corporation (MAC). Following delivery at the end of 2017, it will operate 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
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
February 2024
