- Nautilus Minerals (OTC:NUSMF), one of the world's first seafloor miners, officially went bankrupt this week, according to Mining.com.
- The company was trying to develop its Solwara 1 deep sea gold, copper and silver mine off the coast of Papua New Guinea, but the project was plagued with community opposition and financial setbacks.
- Nautilus has two business units, one in polymetallic nodules and the other in seafloor massive sulphides, which includes the Solwara 1 project; it is not clear which, if either of the units, the company will concentrate on.