Key points
- The vessel was launched at the Mawei shipyard in China and will be used by Nautilus and partner Eda Kopa (Solwara) Ltd. at the Solwara 1 project in the Bismarck Sea of Papua New Guinea.
- The production support vessel (PSV) was designed and built by SeaTech Solutions in cooperation with Nautilus and Marine Assets Corp., and will be leased by Nautilus from its owner.
- The PSV launched today is approximately 75 per cent complete, with final vessel delivery scheduled for March 31, 2019.
- Nautilus anticipates mining operations at 1,600-metre water depth will begin in late 2019, subject to final funding, and says its first-mover advantage is protected by 20 patents.
Nautilus Minerals Inc.’s production support vessel was launched today at the Mawei shipyard in China. The vessel will be used by Nautilus and its partner, Eda Kopa (Solwara) Ltd., at the Solwara 1 project site in the Bismarck Sea of Papua New Guinea.
Mike Johnston, Nautilus’s chief executive officer, commented at the launch: “Today’s launch is a significant milestone for the company and the deepwater sea floor mining industry. SeaTech Solutions has designed and built the world’s first deep-sea mining production support vessel, in co-operation with Nautilus and Marine Assets Corp. This has involved much discussion, thought and innovation, to produce this magnificent vessel. The yard’s efforts have been truly amazing, and I would like to thank the management and team at Mawei Shipbuilding for the terrific work that has been done to get the vessel to this stage of completion.”
He further added: “We believe that mining the sea floor for much needed minerals will be a more cost-effective and environmentally friendly source of obtaining high-grade copper, gold and silver. Nautilus further differentiates itself from others by having a first-mover advantage which is protected by intellectual property and 20 patents. Once our new vessel is delivered, and subject to final funding, mining operations at 1,600-metre water depth is anticipated to commence in late 2019.”
About the vessel
The production support vessel (PSV), which the company will lease from the owner thereof, provides a stable platform for operations using world-class dynamic positioning technologies to ensure it stays on location at Solwara 1 irrespective of wind and wave conditions. The PSV has been designed for use in offshore construction and sea floor mining industries.
The PSV, as launched today, is approximately 75 per cent complete with the final vessel delivery currently scheduled for March 31, 2019.
About Nautilus Minerals Inc.
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.
