Caption: Mining Minister Sir Ano Pala. – PICTURE: FILE PIC Pala:
By GABRIEL KATUHO
MINING Minister Sir Ano Pala says the Nautilus Mining Company is planning to make its return to Papua New Guinea to engage in deep sea mining activities.
He announced this on the floor of parliament last week while responding to questions raised by Oro Governor Gary Juffa.
Governor Juffa asked the Mining Minister to explain or confirm whether there is a truth to the rumors suggesting that this company ‘Nautilus Seabed Mining’ is planning to return back to PNG to engage in deep sea mining activities.
Minister Pala said it is clear with his discussion that the company is planning to return to PNG.
“This company holds three exploration licenses that are all undergoing term extensions,” he said.
Pala said Nautilus was placed under Canadian Courts supervised liquidation in 2019 that resulted in Deep Sea Mining (DSM) Finance Limited – Private Company acquiring 100% shares in Nautilus.
He said that the DSM plans to return to its Solwara project through its three face programs.“Training the deep sea mining concept is most likely to commence later this year.
“Concept testing would be followed by trial mining which DSM plans to commence also later this year.
“Trial mining would be followed by commercial production which DSM plans to commence next year right through to ML twenty-year old lease agreement.”
Pala said this mining will be carried out using robots with very high resolution cameras which will allow selective mining with very high precision.
“In 2014, the State were advised not to acquire any equity options in Solwara project because at that time and also Deep Sea mining had never been tested and tried anywhere in the world, hence it considered highly risky.”
“However, the Department of Minerals Policy and Geo-Hazard management had addressed some of these concerns in the revised Mining Act.
“As the matter of concerns and in the best industrial practice, the MRA has always impose conditions in license grants,” Minister Pala said.
