They have found valuable minerals atop an underwater mountain, which is basically a huge flat-topped mound of some of the scarcest materials on Earth.
NEW ZEALAND Mining News
Canada’s Nautilus Minerals is getting closer to kicking off operations at its Solwara 1 gold, copper and silver project off the coast of Papua Guinea.
This as the creature lays its eggs on the dead stalks of sponges, attached to rocky crusts, which are rich in metals like manganese.
Scientist from Victoria University of Wellington says too little is known about the seafloor communities found in in New Zealand's Exclusive Economic Zone.
Texas-based Ocean Minerals says the area is also rich in scandium, a key ingredient for making an extremely light, strong, corrosion resistant, heat tolerant and weldable alloy.
Inferred mineral resources for Nautilus' CCZ project went up to 685 million tonnes from 410 million tonnes.
The three SPTs are scheduled to undergo extensive wet testing at Duqm Port.
Nautilus Minerals Inc. announces that the Solwara 1 Joint Venture (comprising Nautilus 85% and Eda Kopa (Solwara) Limited 15%) has taken delivery of the three Seafloor Production Tools (“SPTs”) from Soil Machine Dynamics Limited’s facility in Newcastle upon Tyne.
The Canadian deep sea miner has signed agreements with United Engineering Services LLC to provide support services associated with wet testing the company’s production and storing equipments.
Nautilus Minerals Inc. announces that contract for the detailed design of the Solwara 1 dewatering plant to be used on the Company’s Production Support Vessel has been awarded to the Brisbane office of the DRA Group.
The deal also includes a $5 million contingent payment and a 1% royalty on a recent discovery north of Waihi’s current operations.
Newmont Mining (NYSE:NEM) has sold its only mine in New Zealand, the Waihi gold mine, to OceanaGold (TSX, ASX:OGC), the companies announced last Thursday.
The goal is to expand Nautilus’ Seafloor Massive Sulphide prospect inventory around Solomon Islands, located east of Papua New Guinea.
ANZ predicts that as incomes rise across Asia, particularly in China and India, so will the appetite for gold rings and necklaces.
The country's refusal of a deep sea mining venture off its coast has cast a shadow over the emerging mining practice.
New evidence has emerged of China's interest in digging for oil, gas a minerals in the frozen continent.
Oceanagold (TSX, ASX:OGC), an Australia-based gold producer, will start winding down its New Zealand mines to focus on lower-cost production in the Philippines, where it runs the Didipio copper-gold mine north of Manila.
It will be turned into a memorial to the 29 men who died there in 2010.
Costs and challenges for mining the Arctic, meanwhile, on their way up.
Current activities are paving way for coal storage, site infrastructure and initial earthworks for the installation of water management systems.
The company now has 15 days to appeal with the High Court.
Trans Tasman Resource project will vacuum iron-rich seafloor sands, to later extract the desired titano-magnetite for export to Asian steel mills.
Melbourne-based company sets profit and production records from mines in New Zealand and the Philippines. Stock is already up 67% in 2014.
Macraes Mine in East Otago, New Zealands largest gold mine.
Opposition parties claim companies lobbied for a last minute change to a bill introducing a harder line on anti-mining protests at sea.