Key points
- Eda Kopa (Solwara) Ltd., the PNG state’s nominee, elected not to take up its option for an additional 15 per cent interest in the Solwara 1 project.
- Eda Kopa retains its existing 15 per cent interest in the joint venture with Nautilus Minerals Inc.
- Nautilus and Eda Kopa continue working together to complete the seafloor production system for the project.
- Mining at Solwara 1 is planned to commence in the first quarter of 2018.
NAUTILUS MINERALS: STATE NOMINEE’S OPTION
The Independent State of Papua New Guinea’s nominee, Eda Kopa (Solwara) Ltd., Nautilus Minerals Inc.’s joint venture partner in the Solwara 1 project in Papua New Guinea, has elected not to exercise its option to take up to a further 15-per-cent interest in the project.
Nautilus and the state nominee, which maintains a 15-per-cent interest in the project, continue to work together to complete the seafloor production system to be used at the project site when mining is planned to commence in the first quarter of 2018.
