Source: Australian mining
Author: Ewen Hosie
Nautilus Minerals has entered a $US34 million ($45 million) agreement with lender Deep Sea Mining Finance for deep-sea mining development in Papua New Guinea.
Canada-based Nautilus — which possesses a corporate office in Brisbane — is responsible for the Solwara 1 deep sea mining project in Papua New Guinea; the company plans to utilise the loan as part of an overall $US350 million ($461 million) in project funding requirements.
Lender Deep Sea Mining Finance is a private aggregate of two companies: USM Finance and Mawarid Offshore Mining.
Continue reading here.
