Britain and Norway to profit from PNG experimental seabed mining

The prospect of experimental seabed mining in Papua New Guinea may still be some years off but already companies in the United Arab Emirates, China and the UK  are making profits off the back of PNG resources. Now they are to be joined by British based multinational Rolls-Royce and its Norwegian subsidiary…

Nautilus Minerals Inc.: Vessel Engines and Thruster Packages Awarded

Nautilus Minerals | Market Wired

Nautilus Minerals Inc.announces that the order for the engines and thruster packages for the Company’s production support vessel has been awarded to Rolls Royce Marine of Norway. The order secures the main engines, azimuth and tunnel thrusters and is the first major package to be awarded by the shipyard, Fujian Mawei Shipbuilding Limited.

Last year Nautilus announced it had entered into an agreement with Marine Assets Corporation (MAC), for the charter of a vessel to be first deployed for use at the Solwara 1 Project (Project) and that MAC had entered into a contract with Fujian Mawei Shipbuilding Ltd., to design and construct the vessel in accordance with Nautilus’ specifications.

Mike Johnston, Nautilus’ CEO, commented “We are excited to see the first order being placed for this high specification machinery as we work towards the completion of our first vessel”.

The vessel will first serve as the operational base to extract and to transport high grade copper and gold material from the Project site, in the Bismarck Sea of Papua New Guinea.

When completed, the vessel will measure 227 metres in length and 40 metres in width with accommodation for up to 180 people and generate approximately 31MW of power. All of the below deck mining equipment will be installed in the vessel during the build process to minimize the equipment integration to be completed following delivery of the vessel. The vessel is expected to be delivered by the end of 2017.

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Filed under Financial returns, Papua New Guinea

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