Showing posts with label Nautilus Minerals. Show all posts
Showing posts with label Nautilus Minerals. Show all posts

PRODUCTION STARTS 2019: BISMARCK SEA SEAFLOOR EXPERIMENTAL MINING IMPACTS NOT QUANTIFIED YET, MIT STUDY

1. Brief

Image: MIT Environment
Solution Initiative 
Nautilus Minerals is a small cap Canadian company, registered in Brisbane Australia and majority owned by an Oman Group. Described as an *experimental* seafloor mining company, engaging in the exploration and development of Seafloor Massive Sulphide systems in the Bismarck Sea. The company has planned to use remote-controlled heavy machinery and hydraulic pump to mine the minerals, including gold and copper. 


2. Planned Experimental Mining

The latest project update indicated that the planned mining activity will start early 2019. But no definite date was announced. In fact, the company has postponed the start of production from 2017 to 2018 and (in the latest update) to 2019. 

Mike Johnston, Nautilus’ CEO was positive about the seafloor production system: 
"The system remains on track for initial production during the first half of 2019, subject to further financing as indicated previously.” (project update, 10/10/2017)
Nautilus Minerals concept of deep sea mining is not very popular among the people living along the coastal regions of Morobe, Madang, Sepik, Manus, New Ireland and East New Britain. There is also *strong* opposition to the project voiced by prominent locals, Church leaders and national politicians (click here for details).


IMAGE: Nautilus Minerals via  Massachusetts Institute of Technology website