12 June 2018

Nautilus Minerals has entered a $US34 million...agreement with lender Deep Sea Mining Finance for deep-sea mining development in Papua New Guinea...Canada-based Nautilus...is responsible for the Solwara 1 deep sea mining project in Papua New Guinea; the company plans to utilise the loan...in project funding requirements...

Nautilus’s much-publicised Solwara 1 project, which involves extensive seabed dredging, has received some concern and criticism regarding its potential environmental effects...

In December last year, locals launched legal action against the PNG Government over the project, a move Nautilus chief executive officer Mike Johnston branded “a publicity stunt”.