Papua New Guinea

Nautilus Minerals: Vessel dewatering plant detailed design contract awarded

Nautilus Minerals Inc. | July 29, 2015
Nautilus

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

Cecilia Jamasmie | July 28, 2015
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

Cecilia Jamasmie | July 10, 2015
scientists-call-for-freeze-in-deep-sea-mining-permits - 400

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

Cecilia Jamasmie | June 16, 2015
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

Cecilia Jamasmie | June 5, 2015
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

Cecilia Jamasmie | June 1, 2015
Seafloor copper mining has less social and environmental impacts than open cut, underground — 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. | May 14, 2015

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

Cecilia Jamasmie | April 7, 2015
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

Andrew Topf | April 4, 2015
The Porgera gold mine in 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 rumored to sell gold mines in Australia, PNG

Andrew Topf | March 1, 2015
papua_new_guinea

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.

Cecilia Jamasmie

Seabed mining dreams shattered by New Zealand latest decision

Cecilia Jamasmie | February 22, 2015
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

Cecilia Jamasmie | December 15, 2014
How top gold producers margins are being squeezed

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

Wall Street Journal Online | December 15, 2014

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

Cecilia Jamasmie | November 28, 2014
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

Cecilia Jamasmie | November 6, 2014
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

Cecilia Jamasmie | August 18, 2014
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.

Newcrest posts second year of major loss

Frik Els | August 18, 2014
Newcrest posts second year of major loss

Production up and costs down, but asset impairment at Papua New Guinea mine results in $2.2 billion statutory loss for Australian gold miner.

Rio has first right of refusal over Bougainville Copper

Frik Els | August 15, 2014
Rio has first right of refusal over Bougainville Copper

Chief administrator of Papua New Guinea’s autonomous region of Bougainville does not expect lawsuits after stripping Rio of its mining rights.

Papua New Guinea new mining law takes away Rio’s subsidiary rights

Cecilia Jamasmie | August 11, 2014
Rio has first right of refusal over Bougainville Copper

The ruling formalizes the Bougainville province's control of its own resources, which means the national PNG mining law no longer applies.

UN opens up more deep sea areas for mining, issues seven new licences

Cecilia Jamasmie | July 23, 2014
UN opens up deep sea for mining, issues seven new licences

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.

New Zealand rejects underwater iron mine

Cecilia Jamasmie | June 18, 2014
New Zealand rejects underwater iron mine

The company now has 15 days to appeal with the High Court.

New Zealand may approve underwater mine this week

Cecilia Jamasmie | June 16, 2014
New Zealand may approve first underwater mine this week

Trans Tasman Resource project will vacuum iron-rich seafloor sands, to later extract the desired titano-magnetite for export to Asian steel mills.

First seabed mine to go ahead as Nautilus solves dispute with PNG

Cecilia Jamasmie | April 24, 2014
Deep-sea miner Nautilus to get $113m of escrowed funds

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.

Nautilus Minerals goes hard on PNG gov't over Solwara 1 dispute

Cecilia Jamasmie | February 14, 2014
Nautilus Minerals goes hard on PNG gov't over Solwara 1 dispute

The seafloor miner revoked Papua New Guinea’s right to a 30% in its flagship project Solwara 1, and is now seeking undisclosed damages.

Papua New Guinea’s Ok Tedi copper, gold mine handed over to locals

Cecilia Jamasmie | February 10, 2014
Papua New Guinea’s Ok Tedi copper, gold mine handed over to locals

The forced transfer of US$5.5 million in assets comes after the PNG Government's took over the mine in 2013 and nationalized it.

Glencore Xstrata sells 80% stake in copper project

Cecilia Jamasmie | November 1, 2013
Glencore Xstrata sells 80% stake in copper project

The Frieda River project in Papua New Guinea is one of Asia-Pacific's largest copper deposits.

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