Production Starts 2019: Bismarck Bounding Main Seafloor Experimental Mining Impacts Non Quantified Yet, Mit Study
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Title : Production Starts 2019: Bismarck Bounding Main Seafloor Experimental Mining Impacts Non Quantified Yet, Mit Study
link : Production Starts 2019: Bismarck Bounding Main Seafloor Experimental Mining Impacts Non Quantified Yet, Mit Study
Title : Production Starts 2019: Bismarck Bounding Main Seafloor Experimental Mining Impacts Non Quantified Yet, Mit Study
link : Production Starts 2019: Bismarck Bounding Main Seafloor Experimental Mining Impacts Non Quantified Yet, Mit Study
Production Starts 2019: Bismarck Bounding Main Seafloor Experimental Mining Impacts Non Quantified Yet, Mit Study
1. Brief
update) to 2019.
Mike Johnston, Nautilus’ CEO was positive almost the seafloor production system:
"The organization remains on runway for initial production during the outset one-half of 2019, dependent area to farther financing equally indicated previously.” (project update, 10/10/2017)
Nautilus Minerals concept of deep sea mining is non really pop alongside the people living along the coastal regions of Morobe, Madang, Sepik, Manus, New Republic of Ireland together with East New Britain. There is likewise *strong* opposition to the projection voiced past times prominent locals, Church leaders together with national politicians (click hither for details).
comparing mining on-land together with the experiential deep-sea mining cautioned stakeholders almost the danger of widespread devastation to the underwater ecosystems. The postal service farther stated the pollutants 'will move far together with wide'.
'Due to the global rarity of deep sea hydrothermal vent ecosystems, the impact of vent mining would last disproportionately high relative to terrestrial mining. Full-scale nodule mining on the abyssal apparently would touching thousands of foursquare miles of sea floor, kill attached invertebrate communities, together with do huge subsea sediment plumes that would menstruum together with settle over thousands of foursquare miles of seafloor. Such sedimentation would smother seabed habitat, cut down habitat complexity together with biodiversity over vast areas, together with post-mining recovery would last extremely slow. Mining of cobalt crusts on seamounts would drive enormous, mayhap irreversible impacts to unique, productive seamount ecosystems.'Pollution volition move far together with wide. R. Stiener, Huffington Post 'Deep Sea Mining a New Ocean Threat' 20/10/2015
Locals some Morobe, Madang, Sepik, Manus, East together with West New United Kingdom of Great Britain together with Northern Ireland of Britain together with Northern Republic of Ireland provinces volition last mayhap affected equally pollutants travel through the currents channels together with up the nutrient chains. With piddling or no agreement of the widespread impact - postal service mining functioning inward 2019 - the proposed deep sea mining could last a major disaster waiting to happen. This alert cannot last taken lightly.
Image: Courtesy of NOAA via Huffington Post
4. Genuine investors confidence - lacking
Presently, genuine investors' involvement for Nautilus' shares tin dismiss last summed equally lacking. External institutional investors are shying away from options together with warrants, except the company's *owned* subsidiaries. The PNG Government subsidiary (Petromin/Eda Kopa) has non fully exercised its nominated 30% interest in Nautilus Minerals, Petromin has 15%.
In social club words, the financing drives, somebody placements together with or percentage options/warrants are actively taken upwards past times insiders (PDF) of the company.
Nautilus Mineral percentage toll history ADVFN accessed 16/10/2017
Perhaps, it is of import to accept into consideration that this would last the *first* for a deep sea mining of the proposed scale to last carried out - thence experimental.
From an investment dot of view, invest inward this junior mineral fellowship at your ain peril.
5. Finally...
Nautilus Mineral rearranged its financial options inward Oct 2017 to heighten upwards to US$350 i G m to consummate the Solwara 1 project. It implied that if they could heighten this money, they would last able to start production inward the outset one-half of 2019.
Warnings cause got been sounded regarding the vastness of possible environmental devastation and impact along the Bismarck Sea corridors together with people's livelihood. The Solwara 1 deep sea projection is short-term together with unsustainable experimental mining prospect. Nautilus Minerals is better of leaving the sea alone.
Note
- Digging Deep: An Integrated Approach for Assessing the Impacts of Deep-sea Mining: https://environmentalsolutions.mit.edu/digging-deep-an-integrated-approach-for-assessing-the-impacts-of-deep-sea-mining
- Deep Sea Mining a New Ocean Threat: https://www.huffingtonpost.com/richard-steiner/deep-sea-mining-new-threa_b_8334428.html
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| update) to 2019. Mike Johnston, Nautilus’ CEO was positive almost the seafloor production system: "The organization remains on runway for initial production during the outset one-half of 2019, dependent area to farther financing equally indicated previously.” (project update, 10/10/2017)Nautilus Minerals concept of deep sea mining is non really pop alongside the people living along the coastal regions of Morobe, Madang, Sepik, Manus, New Republic of Ireland together with East New Britain. There is likewise *strong* opposition to the projection voiced past times prominent locals, Church leaders together with national politicians (click hither for details).
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