Nautilus Minerals wants to resolve seabed mining issues with PNG. | Pacific Beat

Nautilus Minerals wants to resolve seabed mining issues with PNG.

Nautilus Minerals wants to resolve seabed mining issues with PNG.

Updated 5 February 2013, 20:15 AEST

The Canadian mining company Nautilus Minerals says it remains committed to developing Papua New Guinea's first sea-bed mining, despite unresolved financial issues with the PNG government.

It has a license to mine copper and zinc under the floor of the Bismarck sea, in waters off the New Britain, New Ireland and Manus provinces.

However, the construction of the equipment for its Solwara One Project remains terminated as a the result of a disagreement with the PNG government, which is yet to pay more than 23 million US dollars for its 22 per cent equity in the project.

The company now says it's dedicated to resolving the issues amicably with the PNG government for the benefit of both parties.

Nautilus Minerals' Country Manager, in PNG Mel Togolo says they look forward to achieving a resolution to ensure the project goes into production successfully.

He's told our reporter, Firmin Nanol, the project has many environmental advantages compared to land based mines, as it is working towards a zero tailings system and that no people need to be relocated.

Presenter:Firmin Nanol

Speaker: Nautilus Minerals' PNG Country Manager, Mel Togolo

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