Nautilus Minerals Inc (“Nautilus”) is the first company to explore the ocean floor for polymetallic seafloor massive sulphide deposits.
Nautilus was granted the first mining lease for such deposits at the prospect known as Solwara 1, in the territorial waters of Papua New Guinea, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.
The Company plans to grow its tenement holdings in the exclusive economic zones and territorial waters of Papua New Guinea, Fiji, Tonga, the Solomon Islands, Vanuatu and New Zealand as well as other areas outside the Western Pacific.
[mappress] Subsea World News Staff,February 11, 2013