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Papua New Guinea: Four of five directors of Canadian deep sea mining co. Nautilus Minerals resign

Author: Radio New Zealand, Published on: 19 April 2019

"Directors exit seabed mining company", 9 April 2019

Four out of five directors have resigned from the company behind a troubled deep sea mining project in Papua New Guinea.

...Nautilus Minerals...said four of its directors had resigned, including chief executive...

The remaining director, Tariq Al Barwani, has remained and appointed chief financial officer Glenn Withers as managing director.

...Nautilus has also taken out millions in loans and obtained a court protection order against its creditors.

The company had planned to mine the sea floor between New Ireland and New Britain under the Solwara 1 project....

Read the full post here

Related companies: Nautilus Minerals