Nautilus is feeling the heat – more financial woes
Below are the links to Nautilus statement recently released that many of you have probably seen – they are cancelling underwater construction contracts, sacking 60 staff, it also should be noted that Nautilus shares have dropped 77% in the past year. They are under huge financial pressure!
NAUTILUS STATEMENT: Nautilus Minerals terminates equipment build for its Solwara 1 Project
Media links:
- Nautilus project halted over dispute in PNG
- Nautilus Falls After Halting Construction: Toronto Mover
- Nautilus cancels underwater equipment construction on flagship Solwara project
- Nautilus Minerals Terminates Equipment Build for Its Solwara 1 Project
« Dr John Luick and the Deep Sea Mining campaign dismiss Nautilus defence of EIS |
People power halts greedy experimental mining plans in PNG » |
Nautilus Mineral's seabed mining technology has never been used anywhere in the world, thus Papua New Guineans will always oppose this project including legal battle. Oro Governor Gary Juffa has sought legal redress regarding same and the PNG Public will contibute to meet the legal cost. We have had enough of foreign exploiters killing our environment. We have had terrible experience with OkTedi mine polluting the Fly River system, Placedome's Porgera Gold Mine polluing the Strickland RIver system, the Bouganville Gold and Copper Mine conflict is another. The Solware 1 prooject is suicidal in nature that will affect the local community, fisheries and tuna industry. Papua New Guineans don't see any benefits compared to huge environmental and socioeconomic cost.