Papua New Guinea Mining News

China’s Zijin Mining profit in 2015 hit by gold, base metal prices slump

Net profit for 2015 dropped by almost 30% to $261 million (1.7 billion yuan) from the previous year's $353 million.

Nautilus Seafloor Production Tools arrive in Oman

The three SPTs are scheduled to undergo extensive wet testing at Duqm Port.

European consortium launches Blue Nodules project

On 1 February a European consortium launched a new Horizon 2020 project: Blue Nodules. This project addresses the  challenge of  creating a  viable  and  sustainable value  chain to  retrieve polymetallic nodules from the ocean floor. […]

Nautilus takes delivery of Seafloor Production Tools

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.

Nautilus to test seafloor mining production equipment

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.

World's first seafloor miner inks copper sales deal with Chinese customer

The new agreement replaces a previous three-year contract that would have seen Nautilus supplying 1.1 million tonnes of unrefined copper ore to Tongling Nonferrous Metals Group.

Hillary Clinton’s emails reveal pro deep sea miner move after request from son-in-law

The 2012 emails from an investor in Florida-based deep sea mining firm Neptune Minerals Inc. were forwarded to Clinton by her son-in-law and hedge fund partner Marc Mezvinsky.

China’s Zijin hands $298 million to partner Barrick Gold

The cash injection comes from selling half of its interest in the Porgera mining operation to the Chinese group last May.

Deep sea mining: a potential source of renewable resources?

Not metaphorically, but literally – the deep sea is a gold mine, and that is just scratching the surface.

Nautilus Minerals: Vessel dewatering plant detailed design contract awarded

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.

Papua New Guinea’s Ok Tedi copper, gold mine halts production

The company is also slashing 30% of its foreign employees and 15% of the local workforce.

Scientists, environmentalists call for freeze in deep sea mining permits

A group of scientists is asking international authorities to temporarily halt the approval of new underwater mining contracts until further environmental controls are put in place.

NGOs question Nautilus Minerals report on seafloor mining ‘minimum’ impacts

They are calling the company's shareholders “not to pay the price of ignorance” when it comes to investing in the Solwara 1 deep sea copper, gold mining project in Papua New Guinea.

Gold mining still most significant source of income in Africa, Asia — WGC

Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.

Seafloor copper extraction better than traditional mining — report

The study, commissioned by Nautilus Minerals, shows seabed copper mining may cause less disruptions to the environment and local communities than terrestrial operations.

Nautilus Minerals named to 2015 OTCQX Best 50

Nautilus Minerals Inc. is pleased to announce it has been named to the 2015 OTCQX® Best 50, a ranking of 50 top performing companies traded on the OTCQX Best Marketplace last year.

Nautilus Minerals resumes undersea mining exploration

The goal is to expand Nautilus’ Seafloor Massive Sulphide prospect inventory around Solomon Islands, located east of Papua New Guinea.

Barrick settles remaining claims by women concerning Porgera mine

Barrick Gold (NYSE:ABX, TSX:ABX) has settled claims with 11 women from Papua New Guinea who had alleged acts of sexual violence against them, including rape, at the Porgera mine in PNG over the last two decades.

Barrick rumored to sell gold mines in Australia, PNG

Barrick Gold (NYSE:ABX, TSX:ABX), the number one producer of the precious metal, is hoping to raise up to $1.1 billion through the sale of two mines in Australia and Papua New Guinea.

Seabed mining dreams shattered by New Zealand latest decision

The country's refusal of a deep sea mining venture off its coast has cast a shadow over the emerging mining practice.

Newcrest, Harmony set to build one of the world's lowest-cost gold mines

The revised plan for their jointly-owned Wafi-Golpu in PNG will require an initial capital spending cost of $2.3 billion.

Newcrest outlines plans for US$2.3 billion PNG gold mine

Newcrest Mining Ltd. (NCM.AU) and Harmony Gold Mining Co. Ltd. (HAR.JO) will carry out a feasibility study for a possible new gold mine in Papua New Guinea that they forecast will cost US$2.3 billion to begin building, and which they say could start producing metal by the end of the decade.

Deep-sea miner Nautilus to get $113m of escrowed funds

The sum will be given on the completion of the sale of 15% of its Solwara 1 project to an entity nominated by Papua New Guinea.

Deep-sea miner Nautilus to charter ship as floating base

The ship will accommodate as many as 180 people and is expected to be delivered by the end of 2017.

Rio Tinto weighs stake in closed Papua New Guinea copper mine

The miner is reviewing all options on its 53.83% stake in Bougainville Copper, the operator of its Paguna mine, which has a potential gold and copper resource worth over $60 billion.