Overlooked laws prevent proper growth of informal economy
Hell is the New Heaven

‘Nautilus a risky deal’, former attorney-general warns investors

Amet_Sir Arnold
Sir Arnold Amet

MEDIA RELEASE | Deep Sea Mining Campaign

PORT MORESBY -  Former Papua New Guinea attorney-general Sir Arnold Amet has joined the growing opposition to Nautilus Minerals Solwara 1 deep sea mining project in the Bismarck Sea off New Ireland.

“It is understandable that Nautilus shareholders want to protect their own financial interests but new investors should beware, the Solwara 1 project is very high risk,” said Sir Arnold.

“The muddy puddle at the so-called test site at Motukea Island near Port Moresby is not fit for purpose.

“It will not provide any evidence that these machines won’t malfunction at the intended operating depth of 1.6 km. The hulks are already deteriorating in our tropical conditions.”

Canadian company Nautilus is still seeking funds for its flagship Solwara 1 deep sea mining project. Commercial operation has been delayed year after year since it received its licence to mine the floor of the Bismarck Sea in 2011.

In a last ditch bid to finance Solwara 1, Nautilus’s two largest shareholders have now formed a new company whose sole job is to secure funding for the Solwara 1 project.

 “Nautilus is not a professional outfit,” Sir Arnold said.

“I am concerned that the Papua New Guinean government has bought a 15% share in a dodgy project.

“Any operating disasters by Nautilus Minerals will quickly translate into an environmental catastrophe for the Bismarck Sea and its communities. The associated financial liabilities will be huge.”

In recent statements the machine operators for the Solwara 1 project voiced fears about the safety of operating the equipment 1.6 km under the surface, 25 km off the coast of New Ireland.

In annual information forms lodged with the Canadian Securities Exchange, Nautilus describes Solwara 1 as an experiment – both the environmental impacts and profits are unknown. Nautilus has declined to conduct a preliminary economic assessment, pre-feasibility study or feasibility study.

 “With this high level of environmental and financial risk, the PNG government should never have issued Nautilus with its licence,” Sir Arnold said.

“It was issued even though PNG has no legal framework to regulate such a mine and we have no capacity to monitor its impacts.

“The legal context for the licensing Solwara 1 is highly questionable.”


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Bernard Corden

It is literally a race to the bottom

Bernard Corden

Dear Michael,

This is exactly what went on in Australia with the approval of the QCLNG and GLNG projects.
Indeed many of the senior executives, including Sir Frank Chapman the former BG Group chairman were invited to a major rugby league game at a corporate box at SunCorp stadium by the Queensland government.

The EIS statements won't be worth the paper they are written on and Nautilus just want to get their hands on the slurry, which contains high deposits of tantalum and more money will change hands in trading the resource and PNG community will endure the risk.

Michael Dom

It's that bastard Peter O'Neill.

Hey, Sam, give his ass a little kiss.

I hope Julius is not thinking that this salted mud hole will secure his autonomy.
Nor the deep sea mine.

This stinking deal will come back to haunt future generations if we don't stop it.

And we won't.

Pngians are pathetic at doing the right thing, a whole nation wasting emotional energy hoping the Hunters will magically release The Force while their country is fucked over.

Find more people at a game of rugby than trying to stop deep sea mines.

Human nature - oxy fucking morons.

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