Nautilus Minerals is pleased with the progress made on the build of the Production Support Vessel (PSV) to be used as the base for its seafloor operations planned at the Solwara 1 Project site, in the Bismarck Sea of Papua New Guinea.

The PSV is to be used by Nautilus and its PNG partner, Eda Kopa (Solwara) Limited, and is being built by the team at the Fujian Mawei Shipyard Ltd (FMSL) and Marine Assets Corporate (MAC).

Nautilus’ CEO Mike Johnston said in November: “The company is very excited by the progress that continues to be made. The thruster rooms (aft hull blocks) have recently been lifted into position on the vessel. The accommodation module construction is progressing rapidly with many blocks being assembled alongside the dry dock.

“It is expected to be lifted onto the vessel by the end of the month. We are now looking forward to progressing the final build phase and fit out of the vessel with the team at FMSL and MAC.”

Subject to further financing, Nautilus’ objective remains to develop the world’s first commercial high grade seafloor copper-gold mine and launch the seafloor resource production industry.

Nautilus is the first company to explore the ocean floor for polymetallic seafloor 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 PNG, where it is aiming to produce copper, gold and silver. The company has also been granted its environmental permit for this site.

www.nautilusminerals.com

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