Nautilus Minerals admits Papua New Guinea is a sea bed mining experiment

Date: June 1, 2016

Source: Deep Sea Mining Campaign

TORONTO | As Nautilus Minerals holds its AGM in Toronto today, the Papua New Guinean Alliance of Solwara Warriors and the Deep Sea Mining Campaign encourage investors to think carefully about holding shares in this company.  

Alliance of Solwara Warriors

Nautilus promotes its Solwara 1 sea bed mining project in the Bismarck Sea of Papua New Guinea as the lucrative new face of the mining industry, however, its most recent Annual Information Form found on tells a different story.

According to Natalie Lowrey of the Deep Sea Mining Campaign, “The 2015 Annual Information Form lodged with the Canadian Securities Administrators reveals that the world first licensed sea bed mine is in fact a huge environmental, financial and technological experiment. The form admits that Nautilus has been too lazy and sloppy to perform standard economic and minerological assessments and that the environmental impacts of the operation are totally unknown.”

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