Key points
- Nautilus Minerals Inc. received the final environmental permit for the Solwara 1 project on Dec. 29, 2009.
- The permit was issued by Papua New Guinea’s Department of Environment and Conservation for a 25-year term expiring in 2035.
- The environmental permit in principle had been issued in September 2009.
- Nautilus is in advanced discussions with several parties on a regional joint venture covering some of its PNG tenements.
NAUTILUS MINERALS INC.: SOLWARA 1 ENVIRONMENTAL PERMIT GRANTED
Nautilus Minerals Inc. has received the final environmental permit for the development of the Solwara 1 project on Dec. 29, 2009, from the Department of Environment and Conservation (DEC) of Papua New Guinea for a term of 25 years, expiring in 2035. The environmental permit in principle was issued in September, 2009, as announced previously, in Stockwatch.
Chief executive officer, Steve Rogers, commented: “The environmental permit is the culmination of many years of work by Nautilus and the DEC and paves the way for processing of the company’s mining lease application. The project team is working with the government of PNG to complete the final stages of this process.”
Nautilus continues advanced discussions with several parties in connection with a regional joint venture covering some of Nautilus’s tenements in the territorial waters of Papua New Guinea.
