Nautilus Minerals: Mining The Sea Floor For Profits
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Aug. 27, 2012, 3:19 PMNautilus Minerals (NUSMF.PK), seeking to be the first large-scale miner of copper and gold from the ocean floor, says it's in talks with potential partners to sell a stake in its project off the coast of Papua New Guinea, or it may sell shares to help raise $100M if it can’t find a partner. The number doesn't include funds needed to pay for the vessel that will be used at the project. | Comment!
Jun. 5, 2012, 5:50 PMSome mining companies are turning to the oceans for new caches of natural resources. Nautilus Minerals (NUSMF.PK) plans to scour the seabed, nearly a mile below the surface in the South Pacific, but funding troubles are causing delays. Still, a few Canadian companies are close enough that they're signing up customers and finalizing drilling schedules and budgets. | Comment!
Apr. 24, 2012, 2:14 PMThe world's first commercial sea-floor mine has landed its first customer, China's Tongling Nonferrous Metals Group, and production will begin early next year. The mine, located off the coast of Papua New Guinea, is owned by Canada's Nautilus Minerals (NUSMF.PK), who will sell 1.1M tonnes of sulfides per year to the Chinese firm. | Comment!
NUSMF vs. ETF Alternatives
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,... More
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