Key points
- The PSV hull was floated in the dry dock at Fujian Mawei Shipyard Ltd. (FMSL) last week, about 14 weeks after its first steel block was laid on 10 June.
- The PSV will serve as the base for Nautilus and partner Eda Kopa (Solwara) Ltd.’s seafloor operations at the Solwara 1 project in the Bismarck Sea, Papua New Guinea.
- Vessel progress to date includes over 90% of production drawings issued, over 90% of the 20,068 tonnes of steel cut, and 90% of blocks completed in structure fabrication.
- Nautilus’s objective, subject to further financing, remains to develop the world’s first commercial high-grade seafloor copper-gold mine.
Nautilus Minerals Inc. has provided an update. The production support vessel (PSV) was floated in the dry dock last week to allow the launch of two adjacent vessels. The PSV is to be used by Nautilus and its Papua New Guinea partner, Eda Kopa (Solwara) Ltd., as the base for its sea floor operations planned at the Solwara 1 project site, in the Bismarck Sea of Papua New Guinea.
Mike Johnston, Nautilus’s chief executive officer, commented: “The company was very excited to see the PSV floated in the dry dock last week, as it shows the fantastic progress the team at the Fujian Mawei Shipyard Ltd. (FMSL) and Marine Assets Corporate (MAC) have made over the past three months. When you consider the first block for the PSV was laid on the 10th of June this year, to having a 220-metre hull able to be floated some 14 weeks later, it is a huge achievement by FMSL and a significant milestone for our company. We have worked with FMSL, MAC and others on the PSV for over two years now. During this time we have established a very good working relationship, with very capable stakeholders. We are now looking forward to continuing that strong working relationship as we progress the final build phase and fit out of the vessel.”
Subject to further financing, Nautilus’s objective remains to develop the world’s first commercial high-grade sea floor copper-gold mine and launch the sea floor resource production industry.
VESSEL PROGRESS TO DATE
Item Completed (%)
Production drawings issued greater than 90
Steel cut (out of a total 20,068 tonnes) greater than 90
Blocks completed structure fabrication 90
Blocks completed assembly and painting 83
Blocks lifted to dry dock 65
Blocks completed erection in dry dock 36
About Nautilus Minerals
Nautilus is the first company to explore the ocean floor for polymetallic sea floor 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.
Nautilus also holds highly prospective exploration acreage in the western Pacific (granted and under application), as well as in international waters in the central Pacific.
