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Nautilus Minerals News

05 Dec 2018

India Plans Deep Dive for Seabed Minerals

© Mykola Mazuryk / Adobe Stock

In the 1870 Jules Verne classic "20,000 Leagues Under the Sea", underwater explorer Captain Nemo predicted the mining of the ocean floor's mineral bounty - zinc, iron, silver and gold.India is catching up with that only now, as it prepares to unearth treasures down below, aiming to boost its economy.The floor of the world's seas is scattered with vast beds of black potato-shaped polymetallic nodules comprising copper, nickel, cobalt, manganese, iron and rare earth elements.These natural goodies are key to making modern gadgets…

03 Dec 2018

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 on the PSV.The Vessel JV would own and operate the fully integrated PSV.

04 Jul 2018

Fujian Shipbuilding Terminates Nautilus’ Shipbuilding Contract

Fujian Mawei Shipbuilding has canceled the construction contract for the Nautilus Minerals’ Production Support Vessel (PSV), a part of the Nautilus’ Solwara 1 project located offshore Papua New Guinea. "We have been notified by Fujian Mawei Shipbuilding, the owner of the shipyard where Nautilus’ PSV is being built, that the Shipyard has rescinded the shipbuilding contract between the Shipyard and MAC Goliath, the contractor engaged by Nautilus to procure the construction of the PSV on behalf of Nautilus," said a press release from the company. MAC was hired by Nautilus to procure the construction of the PSV on behalf of the company, it explained. "The Shipyard’s notice of rescission is in response to MAC’s failure to pay the third installment of the contract price (USD 18mln + interest).

29 Jul 2015

Nautilus Awards Contract for Dewatering Plant Design

Image: Nautilus Minerals

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. DRA’s regional director…

20 Apr 2015

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 other industry heavyweights such as GE Oil and Gas, Sandvik, Soil Machine Dynamics, Rolls Royce, Bedeschi and McGregor highlights the quality of the system that we are building.

09 Apr 2015

Vessel Cranes Ordered for Nautilus Vessel

Image courtesy of Nautilus Minerals

An order for cranes to be used on Nautilus Minerals Inc.’s production support vessel has been awarded to MacGregor, headquarter in Kristiansand, Norway. The contract marks the third major long lead time equipment package to be awarded by the shipyard, Fujian Mawei Shipbuilding Limited. Nautilus' CEO Mike Johnston commented, "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.

25 Mar 2015

Rolls-Royce to Supply Engines for First Seabed Mining Vessel

Photo courtesy of Rolls-Royce

Rolls-Royce has secured a landmark agreement to supply six of its new B33:45 medium-speed diesel generator sets to China’s Fuijan Mawei shipyard for configuration aboard the world’s first ever seabed mining vessel. The pioneering vessel, designed by Singapore’s SeaTech Solutions for Dubai-based owner Marine Assets Corporation (MAC), will be powered by six B33:45L9A engines to provide 31.4 megawatts of power. When the 227 metre long, 40 metre wide mining ship is delivered towards the end of 2017…

10 Mar 2015

Bedeschi Bags Cargo Handling Equipment Order

An order for cargo handling equipment to be used on Nautilus Minerals’ production support vessel has been awarded to Italy’s Bedeschi SPA, marking the second major equipment contract to be awarded by the shipyard, Fujian Mawei Shipbuilding Limited. The cargo handling system will be used on the production support vessel to load the dewatered material into four storage holds and is designed to recover the material from the storage holds and transfer it directly to a handymax vessel for shipment of the material to China. Last year Nautilus announced it had entered into an agreement with Marine Assets Corporation (MAC), for the charter of a vessel to be first deployed for use at the Solwara 1 Project and that MAC had entered into a contract with Fujian Mawei Shipbuilding Ltd.…

18 Feb 2015

WOC Partners With The Economist for 2014 Summits

For the third Arctic Summit, the WOC is working with The Economist to help ensure Arctic business community participation. The event will gather senior level politicians, government bodies, NGOs, indigenous groups, intergovernmental organizations, and corporations from across the insurance, infrastructure, oil gas and mining, logistics, shipping, tourism and risk management industries. A special registration discount is available to WOC Members. The speaker for Arctic Summit’s lead industry sponsor - DNV GL (a founding WOC Member) - is Elisabeth Tørstad, CEO, DNV GL Oil & Gas. Other speakers include: Peter Hinchliffe, Secretary General…

09 Feb 2015

Ship Engines, Thruster Packages Awarded

Nautilus Minerals Inc. announced that the order for the engines and thruster packages for the company’s production support vessel has been awarded to Rolls Royce Marine of Norway. The order, which secures the main engines, azimuth and tunnel thrusters, is the first major package to be awarded by the shipyard, Fujian Mawei Shipbuilding Limited. Nautilus announced last year it had entered into an agreement with Marine Assets Corporation (MAC), for the charter of a vessel to be first deployed for use at the Solwara 1 Project (Project) and that MAC had entered into a contract with Fujian Mawei Shipbuilding Ltd., to design and construct the vessel in accordance with Nautilus' specifications.

25 Jun 2014

SMD Begins Auxiliary Cutter Assembly

Auxilary Cutter (Credit Nautilus)

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”.

16 Jun 2014

New Zealand Mulls Ocean Floor Mining Proposal

New Zealand decides this week whether to approve an underwater iron-ore operation that would likely become the world's first commercial metals mine at the bottom of the sea. A green light to allow New Zealand's Trans Tasman Resources Ltd to start iron-ore dredging off the country's west coast will encourage others looking to mine copper, cobalt, manganese and other metals deeper on the ocean floor but worried about regulatory hurdles. Along the Pacific Rim of Fire, as deep as 6,000 metres underwater, volcano crusts, "black smoker" chimneys and vast beds of manganese nodules hold promise for economic powers like China and Japan as well as many poor island states busy pegging stakes on the ocean floor.

28 Apr 2014

Deep Sea Mining Agreement Reached

The opening of the world's first mine in the deep ocean comes closer to reality as Canadian mining company, Nautilus Minerals, signs an agreement with the Papua New Guinea Government to start excavating an area of seabed. The project will extract ores of copper, gold and other valuable metals from a depth of 1,500m, The mine will target an area of hydrothermal vents where superheated, highly acidic water emerges from the seabed, where it encounters far colder and more alkaline seawater, forcing it to deposit high concentrations of minerals. The result is that the seabed is formed of ores that are far richer in gold and copper than ores found on land.

18 Apr 2014

When Will Deep Sea Mining Commence? The Robot is Ready

copyright Nautilus Minerals

The world's first deep sea mining robot sits idle on a British factory floor, waiting to claw up high grade copper and gold from the seabed off Papua New Guinea (PNG) - when a wrangle over terms is solved. Beyond PNG, in international waters, regulation and royalty terms for mining the planet's subsea wealth have also yet to be finalised. The world waits for the judgement of a United Nations agency based in Jamaica. "If we can take care of the environment we have a brand new day ahead of us.

17 May 2011

Nautilus Minerals Completes Drilling Program

Nautilus Minerals has completed its 2010/11 seafloor drilling program, with the vessel, REM Etive, having demobilized in Singapore on May 16, 2011. During the drilling program in the Bismarck Sea of Papua New Guinea, Nautilus completed a 99 hole diamond drilling project, for a total of 1475 metres. Drilling was focused within the area of the Mining Lease (ML154) recently granted to Nautilus, which contains the Solwara 1 deposit  and the Solwara 5 seafloor massive sulphide (SMS) discovery. A total of 71 holes was drilled in ML154, for 1147 metres.

14 Apr 2011

Nautilus Forms Strategic Partnership, Secures Vessel

Toronto, Ontario, April 13, 2011 - Nautilus Minerals’ plan to open a new frontier of seafloor resource production has taken a major step forward, with the formation of a strategic partnership with German shipping company Harren & Partner (“Harren”). A joint venture company (the “Vessel JV”) is to be formed to own and operate a production support vessel which will serve as the operational base for Nautilus to produce high grade copper and gold ore at its first development project, Solwara 1, in the Bismarck Sea of Papua New Guinea (“PNG”).

05 Jun 2007

Shipyard Contract Signed

Nautilus Minerals Inc. announced that the Jan De Nul Group has signed the shipbuilding contract with La Naval, in Sestao Northern Spain for the construction of Jules Verne a 191 m vessel to be used as the ship for Nautilus's deep sea copper and gold mining project, the Solwara 1 Project, located in the waters near Papua New Guinea. David Heydon, Nautilus CEO said: "The signing of the building contract with the shipyard for "Jules Verne" is a major step forward in the delivery of the Solwara 1 Project, building on Nautilus' leading position and first mover advantage in seafloor mining. With the ship build in hand, Jan De Nul engineers…

01 Jun 2007

Shipyard Contract Signed

Nautilus Minerals Inc. said that the Jan De Nul Group has signed the shipbuilding contract with La Naval, in Sestao Northern Spain for the construction of Jules Verne, a 626-ft. vessel to be used as the ship for Nautilus's deep sea copper and gold mining project, the Solwara 1 Project, located in the waters near Papua New Guinea. This contract follows the commencement of manufacturing for the key components of the ship which included the award of five 4500 kW main diesel engines to the MAN Diesel Group in November 2006, dynamic positioning thrusters to Wartsila Nederland B.V on 19 January 2007 and rudder propellers to SCHOTTEL-Antriebstechnik GmbH on 15 February 2007.