Mining sector spells out the good and bad of the Budget
Pump it up: sub-sea slurry at Solwara
Under sea miner Nautilus Minerals has reinstated its 2008 contract with GE Oil & Gas for a sub-sea slurry lift pump (SSLP). The contract was reinstated following a recovery of economic conditions and major advances at the Solwara 1 project.
Graphic of undersea drilling at Nautilus’ Solwara 1 project in the Bismarck Sea.
The SSLP will pump high grade slurry from the bottom of the riser, at Nautilus’ proposed Solwara 1 project in the Bismarck Sea of Papua New Guinea, to a production support vessel floating approximately 1600 metres above.
Nautilus chief executive Steve Rogers said “we are now taking a number of steps to move the Solwara 1 project forward pending final sanction of the project by the Nautilus board of directors. By lifting the suspension, we are securing this critical component and ensuring that we meet our project timeline.”
Nautilus announced earlier this year that it had secured a mining lease from the PNG Government, which had also elected to contribute funds to take up a 30% interest in the Solwara 1 project. That was followed by the announcement of a strategic partnership with German shipping company Harren & Partner to provide the support vessel.
Contact: www.nautilusminerals.com
