Key points
- The approval in principle was signed by Hon. Benny Allen, MP, PNG’s Minister for Environment and Conservation.
- Nautilus must next negotiate the development agreement required for the mining lease and prepare a draft project environmental management plan.
- The Solwara 1 extraction area covers only 0.11 square kilometre of seafloor.
- The project targets seafloor massive sulphide copper deposits with high grades and minimal overburden waste.
Nautilus Minerals Inc.’s Solwara 1 project’s environmental permit has been granted “approval in principle” by the Department of Environment and Conservation (DEC) of Papua New Guinea (PNG).
Signed yesterday by the Hon. Benny Allen, MP, Minister for Environment and Conservation, the approval in principle signals the completion of rigorous internal and independent external reviews of the proposed development by the DEC.
Steve Rogers, Nautilus’s chief executive officer, commented: “This is a major milestone for both the Solwara 1 development and the seafloor resource production industry as a whole. The approval is testament to the positive environmental and social aspects of seafloor mineral production, as well as to the project design. Timing of the approval process has met our expectations to date. We are looking forward to working with the PNG government to deliver this project.”
Working with the appropriate government departments and agencies, the next steps for Nautilus are to negotiate the development agreement required for the grant of the mining lease and prepare the draft project environmental management plan.
The Solwara 1 project represents positive step changes in the environmental and social aspects of copper extraction. With the high copper grades of seafloor massive sulphide (SMS) systems and minimal overburden, very little waste will be produced. The proposed extraction area is only 0.11 square kilometre, representing a small footprint on the earth’s surface. More importantly, there is no displacement of people from the mine site and there will be minimal impact on other resource utilization options as a result of the development.
The Solwara 1 production system is designed to eliminate impact to the surface and mid-layers of the ocean (other than the presence of a vessel and barges). Nautilus will implement robust operational measures to minimize impact to the seafloor environment and enhance the time for recovery of the site when operations are complete.
