Tag Archives: Nautilus

Deep sea sponges may hold key to antibiotic resistance

A group of “Venus’ flower basket” glass sponges, with a squat lobster in the middle (Image: NOAA)

The scientists who discovered antibiotic properties in a deep-sea sponge warn that such breakthroughs could be lost in the face of mineral exploitation

Jessica Aldred | China Dialogue | October 9, 2019

Prof Mat Upton is a medical microbiologist and Dr Kerry Howell is a deep-sea marine ecologist. At the University of Plymouth they have discovered antimicrobial properties in bacteria that live in a species of deep-sea sponge ­– a potential breakthrough in the fight against antibiotic-resistant superbugs. But they warn that such potential could be lost in the drive to exploit the ocean floor for minerals.

Jessica Aldred (JA): What did you discover and how?

Mat Upton (MU): We’ve grown bacteria from the sponges that Kerry has retrieved from the deep-sea floor and tested them in the lab to see if they kill other bacteria. 

Kerry Howell (KH): Sponges are one of the most promising sources of potential medical uses, with 145 reported antimicrobial compounds isolated between 2001 and 2010.

However, almost all research undertaken so far has been on sponges from shallow waters. At Plymouth we have begun to look at a number of different deep-sea sponge species. One that has shown promising results is from the genus Euplectella, found between 700 to 1,700 metres deep in the north-east Atlantic.

It is one of the best studied deep-sea regions in the world, but for many of the species we are working on, we don’t even have the most basic information beyond their identity.

A medically promising glass sponge species from the genus Euplectella, retrieved by Kerry from the Atlantic seabed and potentially new to science (Image: Plymouth University, Marine Institute Ireland, Eurofleets 2)

MU: By combining our expertise, we have begun to investigate the unknown microbiomes of several deep-sea sponges. Through this work, using cutting-edge DNA-sequencing technologies and novel strategies to maximise the diversity of bacteria we can grow from sponge samples, we have been able to isolate novel bacteria that produce antibiotic compounds that kill drug-resistant pathogens, including superbugs like MRSA and E coli.

JA: Antimicrobial resistance (AMR) is one of the biggest threats to global human health. How do your findings help?

MU: The risk posed by AMR requires that we find new antibiotics to fight drug-resistant infections caused by antibiotic-resistant bacteria. By looking in new natural environments, we may find new antibiotics that work in different ways to the ones we currently use.

In the case of our work on deep-sea sponges, it has been demonstrated in a number of studies that individual sponge species harbour relatively specific bacterial populations. The number of sponge species present in these unseen deep-sea environments has not been determined. It is likely that there are many new to science in these locations, each one with the potential of hosting new bacteria. These novel bacteria in turn are likely to produce antibiotics, and other medicines, that are new to science. We have only looked in detail at the microbiomes of two or three different sponge species and we’ve already potentially found some new antibiotics. Expand this to other sponge species we have not even seen and the possibilities are clear.

We’ve also only just begun to look at antibiotic compounds. There are many other lines of enquiry into medically relevant compounds that we’ve not started. Sponges and their microbial populations can produce anti-cancer compounds, analgesics, immune modulators and many other bioactive compounds.

KH: There is a real possibility that with the onset of deep-sea mining we could be destroying species that have important biomedical potential before we even know they exist. We may also be having an impact on the other ecosystem services that the deep sea provides, like climate regulation. At present our lack of understanding means it is difficult to predict potential outcomes beyond the obvious negative consequences. This, in turn, makes it difficult to make informed decisions about how this new industry operates and is managed.

JA: How significant is your discovery?

MU: By looking at the DNA of the bacteria that we have grown from the sponges, we can see that they are not the same as anything that has been grown previously. Some are closely related to previously seen bacteria, but others appear to be really quite novel, possibly new species. We have purified some antibiotic compounds from these bacteria and they are also new to science.

One way to ensure that new antibiotics work against the current drug-resistant superbugs is to use completely new antibiotics. There have been no new classes of antibiotic used in clinical therapy in the last 30 years. The antibiotic compounds we’re finding could be of new classes, giving them a head start against drug-resistant bacteria. This is very significant.

JA: The International Seabed Authority met in July to continue negotiations over a mining code that would govern eventual exploitation. Would mining threaten these sponge species?

KH: Deep-sea mining is a new industry in development. There are three types of deep-sea mining resource recognised, all pertaining to different deep-sea habitats. Polymetallic nodules are found on the abyssal plain, polymetallic sulphides are present as hydrothermal vents, and ferromanganese crusts on some seamounts and ridges.

All of these different resources offer a potential supply of important metals, rare earth elements and other minerals that are used in electronics and the renewable energy sector. We currently stand on the brink of exploitation of the deep sea for these resources. But as we may gain in one way, we potentially lose out in another.

We know that society’s wellbeing is linked to the health of the deep sea through a wide range of ecosystem services as diverse as climate regulation to food security. As a result of our work, we now know that deep-sea species may also hold the key to the problem of antibiotic resistance. What we don’t know is the impact mining will have on the deep-sea ecosystem.

Mining is, by its very nature, destructive, and will result in the destruction of species and habitats. Our knowledge of deep-sea species and habitats remains sparse. This is perhaps highlighted by the fact that recent studies of the main area licensed for polymetallic nodule mining, the Clarion-Clipperton Fracture Zone in the central Pacific, have found up to 90% of species sampled were new to science.

JA: More and more scientists are calling for a moratorium on deep-sea mining until more is known about the species and the potential damage that mining will cause. What would you like to see happen?

KH: Our ecological knowledge of the deep sea has not kept pace with industrial development. There needs to be significant coordinated global effort and investment in research to enable us to forecast potential impacts of mining activities, as well as effects of cumulative stressors such as mining, climate change and fishing acting together.

Only then can we hope to effectively manage, not just this industry, but our oceans as a whole in line with UN Sustainable Development Goal 14. The UN Decade of Ocean Science (2021-2030) offers a 10-year period in which such efforts could be made.

A 10-year moratorium on mining in the Area (international waters that belong to no one nation), coupled with a global programme of targeted deep-sea research, would be the precautionary way to move forward.

JA: The high seas treaty that is currently being negotiated includes who shares the rights to marine genetic resources. Will this treaty help the situation?

KH: The treaty will support the sustainable management of areas of biodiversity beyond national jurisdiction by providing legal mechanisms and processes through which coordinated management actions, including the designation of marine protected areas, can happen. At the moment human activities in these areas are managed by a plethora of different organisations and there is no mechanism for a coordinated approach.

For example, we could have a situation where a regional fisheries management organisation has closed an area to bottom trawling for the protection of vulnerable marine ecosystems, but that same area is then licensed for deep-sea mining exploration. The same area could also support species that have promising medical uses, or be very important to other ecosystem services. We need to take a holistic approach but such an approach needs legal processes and mechanisms to be put in place, and that is what I hope this treaty will do. It will also hopefully mean that all nations benefit from potential discoveries, not just those with the technology to exploit these very difficult to study deep-sea habitats.

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Muthuvel Opts To Stop Solwara 1

Gorethy Kenneth | Post Courier | October 7, 2019

The government is faced with a major challenge on the country’s Solwara 1 project of which K400 million had already been spent while it faces legal implications in the Canadian Court.

State Owned Enterprise Minister Sasindaran Muthuvel in his recent press conference told reporters that the State was faced with K1.8 billion debt to commercial banks and other service providers and that his personal view was to discontinue the Solwara 1 project.

“You see, B-Mobile owes BSP K96 million and KCH owes ANZ another K130 million, first and foremost, we need clarity on this in order to deal with those costing us millions,” he said.

“Then we have another K375 million that has sunk into the ocean – the Solwara 1 project. The government has already spent over K400 million on this Solwara 1 project and as you know, in the recent news, we lost the case with the developer Nautilus in the Canadian Court and we need to take our next course of action,” Mr Muthuvel said.

“Although they have written to the Prime Minister James Marape to see that they are still keen to work with the government, but my personal view is that we have already lost about K400 million, and my personal fear is that of we continue to engage in the project we are going to be forced to further cash calls to invest in that project.

“It is a pity, in fact that project from day one it started came with a negative impact. We are not going to support a project that doesn’t have a net positive income and that doesn’t have the minimum rate of returns. There are other SOEs that we need to concentrate on like the BMobile and that has to be a collective effort and we prioritise to sell off those not making money.

“If we continue to fund this, there is no satinity we can get and we cannot invest in a project that doesn’t have minimum rate of returns… We need a turn around.”

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Towards a just, post-extractive transition

Hannibal Rhoades| Ecologist | 23 September 2019

Frontline communities are showing the way to a ‘post-extractive’ renewable energy transition that is socially just and ecologically viable.

Large-scale mining is the deadliest industry in the world for those who oppose it. It is a contributor to systematic human rights violations, devastating losses of climate critical ecosystems and over 20 percent of global carbon emissions.

And yet, at a time of ecological and climate breakdown, the mineral and metal mining industry is in rude health. Mining companies are taking advantage of new demand created by the energy transition and the digitalisation of war and industry. They’re scouring the globe for new sources of ‘critical minerals’, like lithium, copper and cobalt, and expanding into new territories, including the deep sea.

This is disaster capitalism at its finest, say the authors of a new report that was launched just ahead of the Global Climate Strike. This disaster capitalism is jeopardising urgent climate action.

Dirty mining 

A Just(ice) Transition is a Post-Extractive Transition reveals how the mining industry is greenwashing its operations, positioning itself as a deliverer of the minerals and metals critical to the renewable energy transition, whilst expanding destruction globally.

Benjamin Hitchcock Auciello, researcher and report author, said: “Mining corporations are aggressively and cynically marketing their destructive activity as a solution to the climate emergency.

“It’s critical that we stop extractive industries from greenwashing their crimes and capturing the narrative around the transition to renewable technologies.”

Launched by the London Mining Network and War on Want, and supported by the global Yes to Life, No to Mining Network, the report de-bunks the mining industry’s false claims.

It reveals that the majority of projected future demand for ‘critical’ minerals and metals does not come from the renewable energy sector at all, but rather from heavy industry, consumer electronics and military and other sources.

De-growth

The report delves deeper still to reveal how governments, International Financial Institutions and even progressive movements are clinging to economic growth and material expansion as primary societal and developmental goals. This is creating the space for extractive industries to reinvent themselves as friendly change agents.

Technical fixes and the ‘de-coupling’ of climate and ecological impacts from economic growth will not be sufficient to avoid catastrophic warming above 1.5 degrees centigrade, says the report.

To curb climate breakdown and achieve a just and ecologically viable transition, the Global North must embrace de-growth and help redistribute global demand for energy and resources, not expand their extraction. 

In other words, a just transition must be post-extractive. The first steps for achieving this shift in transition logic is to listen to communities on the frontline of extractivism and centre their voices in the transition.

Hitchcock Auciello continued: “The climate movement must listen to and learn from frontline communities pushing back the expansion of the extractive economy: communities who are simultaneously advancing solutions that embody social, ecological and climate justice.”

Emblematic cases

series of interactive case studies from the Yes to Life, No to Mining Network have been launched in tandem with the new report. They explore the work of communities resisting mining, restoring damaged ecosystems and protecting and developing climate-just alternatives to extractivism around the planet. 

The case studies reveal the violence of extractivism for community leaders harassed, beaten and killed, for ecosystems torn apart, and for the climate. They hint at the immense costs and injustices that are inherent in expanding mining for whatever purpose, and the mass resistance that can be expected.

The case studies also reveal how communities are stopping mining projects, protecting old and innovating new ways of living that are regenerative, life-sustaining and compatible with a climate-safe future. 

In Myanmar, the indigenous Karen People have declared the Salween Peace Park as a space to practice their Earth-centred culture and as a strategy to block the intertwined threats of mega-hydro and mining.

In Galicia, the villagers of Froxán are re-planting forests and asserting their commons-based forms of land and water care in response to the threat of tungsten mining.

In Colombia the community of Cajamarca stopped a gold mine through popular democracy, triggering a national movement and new initiatives to strengthen their regenerative local economy.

In Finland the people of Selkie closed down a peat mine after pollution events poisoned the Jukajoki River and have re-wilded their water systems using a blend of traditional knowledge and science.

In Papua New Guinea, the Alliance of Solwara Warriors and their allies are fighting and winning their battle against the world’s flagship deep sea mining project in the sacred waters of the Bismarck Sea.

Living examples

Authors of Pluriverse: A post-development dictionary, said: “We are exploring and innovating towards a future where all the worlds (human and non-human) can co-exist and thrive in mutual dignity and respect, without a single so called ‘developed’ world living at the expense of others”.

The struggles and ‘alternatives’ shared in YLNM’s case studies are living examples of this future emerging now.

The climate emergency is our clear and present reality, but we will not solve our problems with the same universalised, de-politicised, corporate-dominated approaches that caused them.

Communities, not extractive corporations or captured states, have the answers to the climate and ecological crises. They are living these solutions every day and it is time to listen to them.

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Collapse of PNG deep-sea mining venture sparks calls for moratorium

Papua New Guinea out of pocket $157m from failed attempt at mining material from deep-sea vents as opponents point to environmental risk

Ben Doherty | The Guardian | 15 September 2019

The “total failure” of PNG’s controversial deep sea mining project Solwara 1 has spurred calls for a Pacific-wide moratorium on seabed mining for a decade.

The company behind Solwara 1, Nautilus, has gone into administration, with major creditors seeking a restructure to recoup hundreds of millions sunk into the controversial project.

The Solwara 1 project (Solwara is pidgin for ‘salt water’) planned to mine mineral-rich hydrothermal vents, formed by plumes of hot, acidic, mineral-rich water on the floor of the Bismarck Sea. But the project has met with fierce community resistance, legal challenges, and continued funding difficulties.

The PNG government sunk more than 375m Kina (AUD$157m) into the project, money it is attempting, but appears unlikely, to recoup. The project has been “a total failure” prime minister James Marape said.

Deepsea mining has proven contentious wherever it has been proposed and trialled across the world.

Proponents argue deep-sea mining could yield far superior ore to land mining – in silver, gold, copper, manganese, cobalt and zinc – with little, if any, waste product. The industry is potentially worth billions of dollars and could assist the transition to a renewable energy economy, supplying raw materials for key technologies such as batteries, computers and phones. Different mining methods exist, but most involve using converted terrestrial mining machinery to excavate materials from polymetallic nodules or hydrothermal vents on the sea floor, at depths of up to 6000 metres, then drawing a seawater slurry to ships on the surface. The slurry is then “de-watered” and transferred to another vessel for shipping. Extracted seawater is pumped back down and discharged close to the sea floor.

Environmental and legal groups have urged extreme caution, arguing there are potentially massive – and unknown – ramifications for the environment and for nearby communities, and that the global regulatory framework is not yet drafted, and currently deficient. Scientists argue deep sea biodiversity and ecosystems remain understudied and poorly understood, making it impossible to properly assess the potential impacts of mining – including disturbance of seafloor ecosystems; sediment displacement; and noise, vibration, and light pollution – and to establish adequate safeguards. Deepsea mining could worsen the global climate emergency, reducing the ocean’s ability to store carbon by disrupting seafloor sediments.

The Pacific has been seen as a region of immense deepsea mining potential, but some government leaders are now counselling against the rush to embrace seabed mining.

“I ask you all to… support a 10-year moratorium on seabed mining from 2020 to 2030 which would allow for a decade of proper scientific research of our economic zone and territorial waters,” Fiji president Frank Bainimarama told a climate ‘sautalaga’ – an open discussion – at the Pacific Islands Forum last month.

Charlot Salwai, Prime Minister of Vanuatu, supported Fiji’s call for a 10-year moratorium. Civil society organisations have consistently called for a moratorium on seabed mining “to prioritise the health of our communities and recognise values beyond economic gain”.

PNG had previously been one of deepsea mining’s firmest backers, but new prime minister James Marape has said he is wary of the technology, saying PNG had been “burned” by industry promises.

Until that deep sea mining technology is environmentally sound and takes care of our environment at the same time we mine it, that, at this point in time, I support the call made by the Fijian prime minister,” he told the Post Courier.

“If there is an opportunity for deep-sea mining, so long as environmentally it is friendly and the harvest of resources is done in a sustainable manner then we can give considerations to this, but right now it is a show.

“The technology is not proven anywhere and PNG, we burnt almost 300 million Kina in that Nautilus [Solwara 1] project on a concept that someone told us can work, but is… a total failure.”

Jonathan Mesalum from the Alliance of Solwara Warriors, a community group which opposed the Solwara project, said a 10-year moratorium would be welcomed, “but we need to go further to protect our seas, our livelihoods and traditions by imposing a ban”.

He said while Nautilus’s project had collapsed, other companies might take control of the project’s licences and attempt to resurrect it.

“No one knows about the environmental impact: not scientists, not Nautilus, not the government, nor you or I,” Mesalum told The Guardian. “Our biggest fear is there might be interest from other mining companies who wish to continue the project.”

Nautilus developed and successfully tested three undersea robots designed to mine hydrothermal vents on the ocean floor, but funding for its production support vessel dried up midway through construction. Under a restructuring plan approved by a Canadian court, the company will be liquidated and left with no assets. But a PNG government-owned company Eda Kopa is seeking to recoup some of its money, in an ongoing dispute back before court this week.

A new report, Why the Rush?, from the Deep Sea Mining campaign described the Pacific as the “new wild west” for speculative mining ventures, and argued Pacific regional decision-making and political processes have been manipulated by mining companies seeking to take advantage of inchoate and incomplete regulatory frameworks in the region.

Sir Arnold Amet, former chief justice of PNG, was Governor of Madang province and an MP when Solwara 1 was approved. He said he regrets that the then government didn’t adequately scrutinise the proposal.

“Let’s recognise this failed investment in the upcoming budget and ensure we don’t enter into seabed mining joint ventures in the future or issue any more seabed exploration or mining licences. We now know how deep sea mining companies attempt to manipulate governments according to their own narrow profit motives without any conscience. We look to PM Marape to stand up for Papua New Guineans against the pressure exerted by these corporations.”

The Environmental Defenders Office NSW said deep seabed mining was similar to open cut mining at depths of between hundreds and thousands of metres below the sea’s surface.

“A 10-year moratorium on deepsea mining is an appropriate application of the precautionary principle in circumstances where the consequences and need for this type of mineral exploitation is not well understood,” the EDO’s BJ Kim told The Guardian.

“But it’s not only the risks that are not well understood, it’s also clear that appropriate legal frameworks for mining of this kind are not in place, either in the Pacific or elsewhere. This type of commercial experiment in the ocean should not progress without effective regulatory measures for risk mitigation, monitoring and enforcement of conditions.”

Communities bordering the Solwara 1 project have been concerned about a broad range of environmental impacts, Kim said, including minerals leaching into seawater affecting fisheries and livelihoods, the extinguishment of unique sea species, and the risk of accidents and spillages.

“Communities are still living with the impacts of land-based mining disasters such as Ok Tedi and Panguna. Just this year in the Pacific, we’ve seen oil and ore spills in Solomon Islands and the spillage of an estimated 200,000 litres of toxic red slurry from the Ramu Nickel mine in Madang, PNG.”

Besides PNG, the tiny island nation of Nauru has been deep sea mining’s strongest supporter.

Start-up DeepGreen is seeking to extract cobalt and other metals from a 75,000 sq km zone in the Clarion-Clipperton Zone in the Pacific, over which exclusive control has been granted to Nauru. DeepGreen has secured $150m in funding, the bulk from Swiss-based Allseas, to begin feasibility studies.

Nauru is a country already scarred by mining. More than 80% of the tiny island’s landmass has been rendered uninhabitable by phosphate mining during the 20thC, most by colonial powers the UK and Australia.

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Govt Cuts All Exploration Investments After Nautilus Debacle

Minister should identify the individuals responsible for the decisions that have led to losses of over K375 million.

If there is zero culpability and zero transparency taxpayers can expect they will continue to get fleeced.

Post Courier | September 12, 2019

The government has put a blanket ban on exploration investments after it was dealt a major blow in losing K375 million in the very risky Solwara 1 project.

Its attempts to recoup some money, at least US$50.8 million (K172m) has been constrained so far as Solwara 1 joint venture partner Eda Kopa Limited (Kumul Minerals Holdings Limited subsidiary) had the claim disallowed by the British Columbia Supreme Court appointed monitor PricewaterhouseCoopers (PwC) Canada last month.

KMHL was seeking an unearned contribution claim during the Nautilus Plan of compromise and arrangement process catered for under the Canadian Companies’ Creditors Arrangement Act.

Minister for Public Enterprise and State Investment Sasindran Muthuvel in an interview with Post Courier has told Kumul Minerals and Kumul Petroleum to stop such exploration investments.

He said the deal started from the time of the previous government.

“They went through arbitration and in 2015 they decided to pay upfront US$120 million (K375 million) which was obtained purely as a loan and then we entered into this highly risky project,” Minister Muthuvel said.

“Now we stand to lose all of these monies… the Canadian Court in the process of the developer Nautilus Minerals sought creditor’s protection from (the) British Colombia court in Canada and they appointed PriceWaterHouseCoopers as their administrator.”

“We put our claim for US$50.8 million to retrieve some money back but unfortunately there is very little room or chance for us to get back any funds because they have exhausted all the funds.”

“We stand to lose this major funding which is really a major blow for us.”

Minister Muthuvel said that was a very tough lesson to learn as a Government not to enter into very risky investments.

“This has shown that not necessarily we as a government must embark into every exploration investment.

We should look at our tax regime, we should look at our royalty regimes whereby how we can generate some of the revenue of these tax regimes rather than insisting on equity, especially on this kind of scientific or research project where there is uncertainty to it.”

“To tell you the truth, from day one the project was carrying negative rate of returns, that means we knowing very well that this project is not going to yield any positive income, we knowingly agreed to go into this project with a negative investment or negative rate of returns, which is highly risky and it’s again guaranteed by State.”

Minister Muthuvel also revealed that the investment was not carried out in the books of Kumul Mineral.

“I am appealing to both Kumul Mineral and Kumul Petroleum to stop all kinds of exploration investment, to slow down, and to take stock of what we have and also to help government at this tough economic time.”

As of last week, September 5, according to PwC’s update on the process currently underway, Eda Kopa and the Nautilus Group have individually led applications for the September 10, 2019 Court hearing in Canada.

“Eda Kopa is seeking to set a schedule to have the validity of their claim (the “Eda Kopa Claim”) determined.

“The Nautilus Group is seeking to have the validity of the Eda Kopa Claim determined on September 10, 2019, or as soon as reasonably practical afterwards,” PwC Canada stated in its last update on the process.

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Another call for PNG to cancel sea bed mining licences

Radio New Zealand | 6 September 2019

The former governor of Papua New Guinea’s Madang province, Sir Arnold Amet, has renewed his call for the government to cancel sea bed mining licenses.

This comes as Canadian miner Nautilus, in which the PNG government has a 15 percent stake, is fighting through the courts for its economic survival.

Sir Arnold said he feared that Nautilus, which had been close to beginning sea bed mining at its Solwara One site in the Bismarck Sea, could on sell its PNG licenses.

The James Marape government is backing the call made by Pacific Forum leaders for a 10 year moratorium on seabed mining, but Sir Arnold said it must go further.

“Our preference is, quite obviously, for cancellation of those licenses and a total ban until such time as science can truly satisfy us that that [seabed mining] is worthwhile and economically and environmentally sustainable project. At the moment there is no such evidence,” Sir Arnold said.

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Moratorium on deep sea mining in PNG welcomed

PACNEWS | 4 September 2019

Papua New Guinea Prime Minister, James Marape supported Fiji’s call at the Pacific Islands Forum for a 10-year moratorium on seabed mining.

The PM’s support for a moratorium was welcomed by the PNG Council of Churches at its meeting last week. However, the churches and civil society remind the Prime Minister that the environmental, social and economic risks of seabed mining necessitate a complete ban.

An open letter to PM Marape published in June from the PNG Council of Churches, Voice of Milne Bay, Alliance of Solwara Warriors, Bismarck Ramu Group, and the Center for Environmental Law and Community Rights seeks commitments to cancel all licences issued to Nautilus, to not issue any more sea bed mining exploration or mining licences, and to invest in truly sustainable local enterprises that will benefit local economies.

Jonathon Mesulam of the Alliance of Solwara Warriors said, “We thank our Prime Minister for heeding the calls of our communities by backing a 10-year moratorium on seabed mining. But we need to go further to protect our seas, our livelihoods and traditions by imposing a ban.”

Peter Bosip, Director, Center for Environmental Law and Community Rights claimed, “PNG’s recent history is littered with many examples of land-based mines with disastrous impacts. It is very difficult to monitor and regulate the impacts of land-based mining let alone mines deep under the sea. Globally, ocean ecosystems are already under stress due to pollution, plastics, overfishing, climate change and accelerating biodiversity loss.

“PNG has no need for seabed mining” stated Christina Tony of the Bismarck Ramu Group.  “We are blessed with abundant fisheries, productive agricultural lands and marine life. Seabed mining will benefit only a small number of people who are already wealthy and not bring prosperity to our communities.”

Nautilus is now approaching liquidation and PM Marape has described Solwara 1 as “a total failure”.  PNG’s investment in Nautilus has resulted in loss equivalent to one third of its last national health budget. The PNG Government through Eda Kopa (Solwara) Limited is attempting to recoup some of its financial loss through the Canadian courts. Smaller shareholders considering a class action are hoping to collaborate with Eda Kopa.

A new international report describes how Nautilus’ early investors pushed the PNG Government into purchasing a 15% share in its Solwara 1 project.  These investors increased the company’s share price with false promises of vast wealth and then walked away as multi-millionaires, leaving the company to flounder.

Sir Arnold Amet stated, “The approval of Solwara 1 occurred under my watch as an MP and Governor for Madang’. I regret that the O’Neill government didn’t adequately scrutinize that project and took up 15% equity in Nautilus PNG. It’s time to rectify that situation.

“Lets recognise this failed investment in the upcoming budget and ensure we don’t enter into seabed mining joint ventures in the future or issue any more seabed exploration or mining licences.  We now know how deep sea mining companies attempt to manipulate governments according to their own narrow profit motives without any conscience. We look to PM Marape to stand up for Papua New Guineans against the pressure exerted by these corporations,” he said .

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