The cash injection comes from selling half of its interest in the Porgera mining operation to the Chinese group last May.
Not metaphorically, but literally – the deep sea is a gold mine, and that is just scratching the surface.
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 company is also slashing 30% of its foreign employees and 15% of the local workforce.
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.
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.
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.
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 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.
The goal is to expand Nautilus’ Seafloor Massive Sulphide prospect inventory around Solomon Islands, located east of Papua New Guinea.
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 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.
The country's refusal of a deep sea mining venture off its coast has cast a shadow over the emerging mining practice.
The revised plan for their jointly-owned Wafi-Golpu in PNG will require an initial capital spending cost of $2.3 billion.
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.
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.
The ship will accommodate as many as 180 people and is expected to be delivered by the end of 2017.
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.
Production up and costs down, but asset impairment at Papua New Guinea mine results in $2.2 billion statutory loss for Australian gold miner.
Chief administrator of Papua New Guinea’s autonomous region of Bougainville does not expect lawsuits after stripping Rio of its mining rights.
The ruling formalizes the Bougainville province's control of its own resources, which means the national PNG mining law no longer applies.
State-owned and private companies from the UK, Germany, India, Brazil, Singapore and Russia are among those to benefit from the seabed regulator’s decision.
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.
Under the agreement, the Papua New Guinea government paid Nautilus $7 million, which entitles it to a 15% stake in the project, with an option to increase it by another 15% in the next 12 months.
The seafloor miner revoked Papua New Guinea’s right to a 30% in its flagship project Solwara 1, and is now seeking undisclosed damages.
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