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By Irina Dobretsova, Anna Sukhanova, Anatoly Kondratenko, Svetlana Babaeva, Sergey Andreev

"With the acceptance of an application and a signed contract for prospecting deep-sea sulfides (2012) between the Russian Federation and the ISA, at present it is particularly important to assess the quality of oceanic sulfide minerals and to reliably estimate their resources.Some procedures of geochemical classification (chemical analyses, mineral composition of SMS) and calculations (density of ore, density of the mineral part of the ore, porosity and moisture contents) were used for estimation of mineral resources potential.The key characteristics for estimating the predicted resources of hydrothermal ore fields are the metal contents and the density of wet and dry sulfide ores. However, in the future it is impossible to provide an estimate of the predicted resources without taking into account the following important factors:- the quantitative ratio of main sulfide minerals;- proportion of non-metallic components (opal, quartz, talc);- the replacement of primary minerals by copper sulfides;- texture-structural features of sulfide ores.The offered mineral classification of the SMS is based on the prevalence of minerals in the ores and partly on their composition. The main ore-forming minerals of SMS are pyrite, chalcopyrite and sphalerite. Sulfide mineralization is accompanied by the presence of nonmetallic minerals, where quartz and opal prevail, and where we also meet aragonite, talcochlorite and anhydrite."

Jan 1, 2017

By Timothy F. McConachy

Between April 2000 and April 2002, the Commonwealth Scientific and Industrial Research Organization (CSIRO) Division of Exploration and Mining has led 6 research expeditions totalling 160 days ship time in waters of Papua New Guinea, Vanuatu, Solomon Islands, Indonesia and Australia. Five expeditions were undertaken aboard the Australian research vessel Franklin following successful competitive research proposals, and the sixth used the Indonesian vessel Baruna Jaya VIII (see Table 1). In addition, two CSIRO participants joined JOIDES Resolution for the Ocean Drilling Program Leg 193 in the Manus Basin of PNG. The major scientific objective underpinning these expeditions was to locate and study present-day seafloor and sub-seafloor hydrothermal ore-forming activity in order to develop improved methods of exploring for ancient mineral deposits on land that originally formed by similar processes. The research has been supported financially by a number of Australian-based mineral companies, by Australian international aid agencies, and by appropriation funds from CSIRO, and was conducted in collaboration with researchers from Australia, Indonesia, Portugal, New Zealand, United States of America, South Korea, and the host nations. Building upon earlier successes in the 1986-1997 PACLARK-PACMANUS programs in the Woodlark and Manus Basins of PNG, we have sought to examine a wider range of geological settings in which ancient orebodies are inferred to have formed, including both volcanic and sediment-hosted environments. We have now visited volcanic arcs, fore-arc and triple-junction related submarine volcanoes, and back arc basins associated with convergent plate margins in the SW Pacific and SE Asia, as well as conceptual Mississippi-Valley-type targets associated with warm seeps at passive margins in the Great Australian Bight (see Figure 1). Surveys ranged from northern Sulawesi via far western Bismarck volcanic arc near PNG-Indonesia border, through the eastern Manus Basin and the Tabar-Lihir-Tanga-Feni chain in PNG, the western Solomon Islands festoon, the San Cristobal arc, parts of the Vitiaz arc, to the northern and southern New Hebrides arc in the Solomons and Vanuatu.

Jan 1, 2002

By Richard H. T. Garnett

Marine mining on the continental shelf was first attempted in 1900 for gold off the beaches of Nome, Alaska. Attempts continued until 1990 with cutter-suction, airlift and bucket-ladder dredges. Offshore Thailand profitable production of tin resulted from clamshell, bucket-ladder and trailing suction hopper dredges. Today in Indonesia numerous bucket-ladder dredges continue to mine tin. Off the coast of Namibia and South Africa nearly a dozen large and medium sized vessels are engaged in diamond production. The obvious risk results from the working environment. Vessels and lives have been lost in the past. At best the availability of mining equipment is reduced. Leaving aside the marketing and financing aspects, otherwise the most important risks are technical. They manifest themselves as diamond production short-falls with obvious financial consequences. Bias and deficiencies in sampling equipment and procedures may result in misleading grade estimates, even serious under-estimation. Inadequate sampling in terms of sample support and density may result in over-optimistic grade determinations, especially if under-sized mining blocks are outlined. Quantitative measurement of the geotechnical characteristics of the sediments to be mined is an essential stage in a feasibility study. Without a full understanding of the bedrock profile and the overlying sediments the ease, completeness and speed of excavation during the mining process cannot be properly estimated. Both historically and at present the greatest negative discrepancies from production estimates result, not from grade shortfalls, but from significantly lower mining rates than thought possible by the operators. The learning curve in marine, production mining is steeper and longer than is generally recognised by newcomers to the industry. Examples are provided from tin, gold and diamond mining experiences.

Jan 1, 1998

By S. Rajendran

Gas Hydrates (Methane Hydrates) are solid, ice-like substances composed of water and natural gas. They occur naturally in areas of the world where methane and water combine at appropriate conditions of temperature and pressure and are found in ocean bottom sediments and in some permafrost areas. Besides temperature and pressure, factors like bathymetry, sediment thickness, sedimentation rates, and total organic carbon content (TOC) also control gas hydrate formation in the ocean basins. The stability of gas hydrates depends on the critical combination of high pressure and low temperature (0 - 17 bars, 0 - 25°C), which in turn is dependent on the mix of gases from which the mineral is formed. As the critical parameters can be altered by deposition, erosion, slumping, formation or melting of ice cover, rise and fall of sea level, and sudden temperature changes induced by tectonic activities, current flow, or volcanisms, the gas hydrates tend to be very unstable. The Indian offshore is promising for the occurrence of gas hydrates in a total of about 80,000 km2 area in the bathymetry range of 700 to 3000 m as reported in earlier surveys. A gas hydrate stability zone thickness map was prepared using bathymetry and sea bottom temperatures along the continental margins of India. This map is expected to provide the depth window while searching for Bottom Simulating Reflectors (BSR). The study indicates that a minimum water depth of 750 m is required for the formation of gas hydrates, above which the chances for gas hydrate occurrence appear minimal despite other favorable conditions like organic-rich sediments, etc. Single-channel seismic analog records (Gupta et al., 1998) indicate that the Western Continental Margin of India (WCMI) offers a greater promise for gas hydrate occurrences, particularly with regard to the number of BSRs traced on the analog records as compared to earlier surveys.

Jan 1, 2005

By David Heydon

NAUTILUS MINERALS is a leader in the commercial exploration for and evaluation of seafloor massive sulfide (?SMS?) deposits. Nautilus has exploration licences covering 15,000 sq km of seafloor in Papua New Guinea and is evaluating other areas in the Western Pacific. The Nautilus Western Pacific Gold-Copper project is an interesting case study of the interaction of the disciplines of Science, Engineering and Environmental Science to solve and attend to the challenges of a project without precedence. The Science books of geology and marine biology with respect to seafloor massive sulfides are still being written or at best are thin volumes with recognition still we know very little at this time. Science?s early discoveries and study of these mineral processes on the seafloor provided invaluable data from which to develop an exploration strategy and the genesis of Nautilus itself. The Engineering required for development of such deposits is a combination of yet to be tested ?theory and engineering principles? and adaptation of best practice from other fields such as oil/gas and telecommunication cable laying. The Environmental guidelines for exploring these deposits, let alone mining them, is at the moment still being debated by a panel of experts chosen by the International Seabed Authority.

Jan 1, 2005

By S. Rajendran

Gas Hydrates (Methane Hydrates) are solid, ice ? like substances composed of water and natural gas. They occur naturally in areas of the world where methane and water can combine at appropriate conditions of temperature and pressure and are found in the ocean bottom sediments and in some permafrost areas. Besides temperature and pressure, factors like bathymetry, sediment thickness, sedimentation rates, and total organic carbon content (TOC) also control gas hydrate formation in the sea. The stability of gas hydrates depends on the critical high pressure ? low temperature combination (0 - 17 bars, 0 - 25°C), which in turn dependent on the mix of gases from which the mineral is formed. As the critical parameters can be altered by deposition, erosion or slumping of sediments, formation or melting of ice cover, rise and fall of sea level and sudden temperature changes induced by tectonic activities, current flows or volcanisms, the gas hydrates tend to be very unstable. The Indian offshore is promising with the occurrence of gas hydrates in a total of about 80,000 km2 area in the bathymetry range of 700 to 3000 m as reported in the earlier surveys. A gas hydrate stability zone thickness map was prepared using bathymetry and sea bottom temperatures along the continental margins of India. This map is expected to provide the depth window while searching for the ?Bottom Simulating Reflectors? (BSR). The study indicates that a minimum water depth of 750 m is required for the formation of gas hydrates, and above which the chances for gas hydrates occurrences appear minimal despite other favourable conditions like presence of sediment rich organic content etc. Single channel seismic analog records (Gupta et al., 1998) suggests that Western Continental Margin of India (WCMI) offers greater promise with to gas hydrate occurrences, particularly with regard to the number of BSRs traced on the analog records as compared to the earlier surveys.

Jan 1, 2002

By Mark Vardy, Kasia-Leigh Chidlow, Tim Minshull, Jeorg Bialas, Sven Peterson, Bramley Murton, Alba Gil

Since the discovery of the first black smoker on the East Pacific Rise in 1977 (Francheteau, et al., 1979), the hydrothermal vents, now called seafloor massive sulphides (SMS) deposits, have generated great interest in the geological community, especially regarding their formation and composition. SMS deposits are areas of hard substratum, with high base metal and sulphides content, that form through hydrothermal circulation and are commonly found at hydrothermal vent sites. The high base metal (Fe, Cu, Zn, Pb), sulphur-rich mineral content has interested mining companies, due to their potentially high economic value. Currently, the known SMS deposits do not have the same dimensions as the massive sulphides (MS) found on land (covering just 10s to 100s m2) and pose significant mining challenges (being located in water depths between 800 m and 6000 m), meaning that they do not appear to be economically exploitable at present. However, these deep-sea mineral resources could be important targets in the near future, particularly with our ever-increasing demand for base metals. A key aim of the European Union-funded Blue Mining project is to develop techniques to robustly quantify SMS deposits dimensions (both surface expression and subsurface extent) and therefore assessing the suitability of SMS deposits for future economically viable and environmentally clean deep-sea mining operations.

Jan 1, 2017

By Marlene Olivares Cruz

The particles that make up the deep-sea sediments have two main sources: 1) those that are created in situ from dissolved components and 2) those that are washed into the ocean in solid phases from the continents, atmosphere, space and interior of the Earth. Many particles as they sink through the water column reaches the seabed and are known as pelagic sediments with terrigenous, biogenic, authigenic, and cosmogenic components. Among the minerals found in the terrigenous fraction of pelagic sediments are quartz, clay minerals, feldspar, micas, ferromagnesians, and the biogenic fraction with remains of siliceous organisms, such as, radiolarian and diatoms. The chemical nature of marine sediments is controlled by the contribution of particulate matter derived from various sources with varying compositions for the fixing of elements during deposition and the compositional changes carried out within the sediments during diagenesis. In the last decade there have been several studies on the mineralogical composition of seabed sediments, suspended particulate materials and cores, together with paleontological and geochemical data are used for paleoclimatic and paleoenvironmental reconstructions, analyze changes in sea level, stratigraphic correlations and identify past and present sources of sediment and terrigenous input pathways and to describe the current ocean mass (Martins et al., 2001, Oliveira et al., 1998). There is also a scientific and economic interest in the authigenic fraction of pelagic sediments formed from other materials for polymetallic nodules. The study of sediments associated with polymetallic nodules helps to know the genesis, evolution and occurrence of these deposits (De Koven et al., 2003, Dubinin et al., 2008).

Jan 1, 2011

By Charles L. Morgan

For the past twenty years or so the oceans of the world have been transformed in the minds of most Americans from the ultimate and nearly infinite receptacles for sewage and other wastes to an almost sacrosanct and threatened last refuge of Mother Nature from man on Earth. While this general movement has helped somewhat to moderate the flows of pollutants into the oceans, it has had severe and sometimes devastating impacts upon various attempts to develop seabed mineral resources. Marine mining proposals have been easy targets for attack. In most cases, they have short or no histories and involve prototype or first-generation methods. They commonly lack major financial backing, and do not command significant public support. Their constituents are limited. Opposition movements to such proposals have been able to evoke strong support by appealing to this "last refuge" image and depicting mining operations as the final assault. In mounting these public appeals, the movements obtain visibility and support. Because of the small and sometimes tentative status of the constituencies which support particular proposal s, the potential liabilities for opposition movements are minimal.

Jan 1, 1989

By Francois P. Leroy

In the quest of studying the assigned blocks of seafloor for deep water mining, each member country of the ISA is thirsty for accurate information as to the level of resources available. Manganese nodules represent a large portion of the resources and are as precious as they are hard to locate and harvest. Resolving such challenges is what drives the technology development and yields instruments and products capable of serving this field of research. This presentation will study how manufactures of oceanographic instruments have pushed the technology envelop to in order to transform a collection of sensors and instruments into a seamless and adapted assembly working to serve the researcher and prospector in the challenging field they operate. Deep water data collection is characterized by the following challenges: ? Deployment, recovery and handling of the vehicle ? Producing high resolution at great distances ? Positioning that data with accuracy to relocate Teledyne Marine will present the work performed in its engineering laboratories to produce sub systems and systems now capable of delivering key information necessary to the proper cataloguing and exploitation of deep water mineral mining. Understanding and controlling the alternative resources available to each country will allow better management of current traditional land based minerals.

Jan 1, 2010

By William Siapno

Manganese nodules, as metal ores, have for the most part been cast aside from further consideration within this century. However, in the decade of the 90s, rising demand at all levels of society, for clean air give nodules a new - lease on life as a stack gas cleaning agent. Further, the Clean Air act of 1990, mandates enormous outlays to bring systems into compliance with new stringent standards. Quick corrective actions are imperative. Research beginning in the 1960s proved nodules possess unique qualities to remove acid compounds from stack gases. Early this year, the National Science Foundation awarded General Electric an $83 million contract to design a system to extract oxides of sulfur and nitrogen from coal fired power plants. Environmental damage is abundantly evident on the ground, from the air as well as form space. A dirty pall of yellow-brown smog is smothering both animal as well as plant life around the globe. Losses run into billions!

Jan 1, 1991

By Sebastian Ernst Volkmann, Felix Lehnen

"INTRODUCTIONWhile today’s mine planning of land-based ore deposits follows methods, which are well established, mining standards for the deep-sea have not established. Having gained a basic understanding of geological settings, there is still a lack of tools and methods to assess and plan future mining projects in the deep-sea. In the framework of the “Blue Mining” research project (2014-2018) technologies and methods for the exploration and exploitation of deep-sea minerals are developed that will bring deep-sea mining a step closer. The “Blue Mining” project receives funding from the European Commission (EC; Framework Programme 7; GA No. 604500) and addresses all aspects of the value chain in the field of deep-sea mining. The project philosophy is that deep-sea mining is planned and executed in the most responsible manner: Ensuring societal benefits and profitability at acceptable resource utilization and lowest possible environmental footprint (Volkmann 2014).Inspired by the high-tech farming industry, a concept to mine seafloor manganese nodules (SMnN) was developed. Mining is considered to be similar to the potato harvest on land (Figure 1), which involves mining a field partitioned into long, narrow strips (Volkmann and Lehnen 2017). The proposed mining system composes of one mining support vessel (MSV), one or two self-propelled, crawler-type seafloor mining tools SMT(s) and different types of underwater vehicles. The MSV follows the mining route of the SMT(s), picking up the about potato-sized nodules from the seafloor. The ore is pre-processed in situ and is lifted on board of the MSV, where the ore is dewatered and loaded onto bulk carriers for transport to the purchaser. Processing and refining of ore is not subject of “Blue Mining” research."

Jan 1, 2017

By Mayumi Ito

Seafloor hydrothermal deposits are found worldwide at 700 to 3,600 meters below sea level [1] and contain base and precious metals like Cu, Pb, Zn, Au, and Ag. Some deposits were found in the Japanese exclusive economic zone and the commercial potential will depend on developments in mining and treatment costs of onshore mines. The ores require mineral processing to become concentrate for the various metal smelters and the authors are investigating mineral processing treatments of collected samples. The collected samples were classified into three components (chimney, mounds, and substrate rocks) and they were separated using a RETAC jig. The mound component contains zinc, lead, and copper minerals and further separation using flotation was investigated. This paper introduces results of the mineral processing tests using gravity separation and flotation.

Jan 1, 2011

By Frans van Grunsven, Cees van Rhee, Geert Keetels

One of the obstacles during the initial phases of project development is the assessment of the environmental impact. Mining residue, consisting of fine seafloor sediments, are to be discharged subsea to mitigate the impact of these suspended particles. In order to test the effectiveness of discharging in proximity of the seabed, a numerical model is developed within the open source software package OpenFoam. Dedicated laboratory experiments for numerical model validation are discussed within this paper. INTRODUCTION Siltation is considered one of the major pressures on the environment for a seabed mining operation. Siltation is defined as the pollution of water by a high concentration of suspended sediments like clay or silt. This can be caused by two main activities during the mining process: the spill loss during the excavation and the return flow of undesired seafloor sediment after ore filtration on the ship. In a concentrated cloud, these fine particles form a so-called turbidity plume. Prediction of the size of these plumes and the created layer thickness of deposited sediment is a crucial part of the environmental impact assessment. The challenge in predicting the behaviour of these plumes is found in the wide range of scales involved in the process. At the point of origin, the turbidity plumes spread mainly under the influence of turbulent whirls created by an initial momentum and a buoyancy difference due to the presence of the suspended sediment particles. If carried by ambientcurrents, these plumes can spread for several kilometres before blending in the background.

Jan 1, 2018

By Robert M. Owen

Recent advances in coring technology and in the development of shipboard and/or in situ geochemical geochemical analysis systems have greatly improved our ability to collect and analyze exploration samples, particularly for marine placer exploration programs. The potential benefit of these improvements cannot be fully realized, however, until we also develop more efficient methods of data reduction and interpretation. Specifically, there is a need to provide prospectors with rapid and useful interpretations of the raw geochemical data so that they can exploit promising results and otherwise optimize the exploration program while the exploration vessel is still at sea. The goal of this project has been to identify and/or develop computer software which is capable of making the necessary data reduction calculations and which can be run on conventional desk-top computers. All work on this project has been supported through a research grant from MMTC-CSD to The University of Michigan. The first stage of this effort involved an evaluation of commercially available (i.e., "off the shelf") software to determine its suitability for use in marine placer exploration applications. Various commercial software packages, each purportedly capable of making different types of statistical and/or mathematical calculations, were tested by evaluating their performance in handling geochemical data sets representative of actual marine placer locations. These data sets include the positions and results of chemical analyses of suites of sediment samples collected from areas of known or suspected marine placers along the Bering Sea coast of Alaska. The evaluation of each commercial program involved a comparison between the results obtained from using the test program

Jan 1, 1991

By Toru Yamasaki

A concept of plate-tectonic controls for the formation of seafloor massive sulfide (SMS) deposits in back-arc settings was established by Franklin et al. (2005). According to Franklin et al. (2005), a consequence of extension and rifting is subsidence, thinning of the crust, and the rise of hot, athenospheric mantle into the base of the crust. Underplating of the crust by mafic magmas results in low-pressure partial melting of the hydrated crust at a <15-km depth, and the generation of felsic anhydrous melts. The rapid ascent of hot felsic melts, along with mantle-derived mafic melts, results in bimodal volcanism that characterizes rift and volcanogenic massive sulfide deposits (VMS) environments. The rapid and focused advection of the magmatic heat within the rift to the near-surface environment which are required to sustain vigorous long-lived VMS hydrothermal systems. Faults within rift environments may also allow seawater to penetrate into subvolcanic intrusions and mix with magmatically generated metalliferous fluid or allow a direct magmatic contribution from shallow crustal level (3–12 km) magma chambers (Franklin et al., 2005, and references therein). In addition, the caldera-forming processes are favorable for the formation of VMS deposits and the focused high heat flow and cross- stratal structural permeability that is restricted in time and space to caldera development provides an explanation for the clustering of VMS deposits and their restriction to specific time-stratigraphic intervals and structures in the evolution of submarine central volcanic complexes (Franklin et al., 2005, and references therein). The concept is persuasive, although it is based on a series of logically constructed reviews mainly focused on ancient on-land deposits.

Jan 1, 2018

By Ulrich Schwarz-Schampera

Submarine hydrothermal vents and associated mineralization on the Tonga arc have been identified in the summit calderas of two shallow-water volcanoes. The highest temperature vents (up to 270°C) occur at water depths between 430 and 540 meters below sea level (mbsl) near the summit of one volcano at 24°S (volcano 19). Clusters of large barite, anhydrite, and sulfide chimneys on the summit cone are vigorously discharging clear hydrothermal fluids with temperatures on the seawater boiling curve. There is abundant evidence of phase separation and associated gold and base metal precipitates. Pyrite, marcasite, wurtzite-sphalerite, tennantite, and chalcopyrite line the interiors of the highest temperature vents. Acid-sulfate alteration of basalts and basaltic andesites is evidenced by intense silicification and the presence of abundant alunite. One volcano at 21°S (volcano 1) has a chain of explosion craters on the flank of a neovolcanic scoria cone and associated massive pyrite, barite and native sulfur deposits at a water depth of 210 mbsl. Intergrowths of pyrite and enargite are associated with intensely argillic altered basaltic andesites. The reported alteration and Au-enriched mineralization styles of these vent fields are similar to other shallow water hydrothermal systems at island arc volcanoes and contribute to the diversity of seafloor hydrothermal activity in the western Pacific region.

Jan 1, 2010

By Raymond A. Binns

In this first sub-seafloor examination of an active hydrothermal system hosted by felsic volcanic rocks at a convergent plate margin, we drilled 13 holes altogether, achieving deep cored penetrations at two sites. Our aims were (1) to delineate the lateral and vertical variability in mineralisation and alteration patterns below the PACMANUS hydrothermal site near the 1650-1700 m-deep crest of Pual Ridge in the eastern Manus back-arc basin, so as to understand links between volcanological, structural and hydrothermal phenomena, and (2) to establish the nature and extent of microbial activity within the system. Technological innovations vital to success included our precise location of holes on small targets with drill-stem video, the use of a new hard-rock re-entry strategy, and deployment of casing with a new hammer drill. Other technical achievements were the first ODP application of an advanced diamond coring system, and the first direct comparison in a hardrock environment between structural images obtained by wireline methods and by logging-while-drilling (resistivity-at-bit).

Jan 1, 2002

By Laurie Meyer

The need for improved, high confidence estimates of nodule abundance to support mine permitting, detailed mine planning and mining and processing equipment design is evident. To date, physical samples represent the ?Gold Standard? for nodule abundance measurement, and are likely to remain as such. However, there are some interesting improvements in the area of 3-D scanning which, if marinized for operations at 6000m, may prove to be reliable alternative methods for mapping abundance over large areas particularly if calibrated or benchmarked with physical sample data. . Features of a high confidence physical sampling device, such as the 0.75m2 (0.86m on a side) box corer developed and successfully used by the Kennecott Group for exploration in the CCZ, take into account not only the accuracy in nodule sample collection but a host of other operability considerations which can mean the difference between a successful exploration cruise yielding high numbers of large area samples and one in which few, inaccurate, often inconclusive samples are collected (or, even worse, the sampler fails to grab any nodules for any number of reasons). The collection of physical samples at appropriate spacing within a mine area combined with more qualitative indications of nodule density such as can be obtained using acoustic backscatter should prove adequate for the near term objectives related to overall abundance appraisal or estimates of ?indicated? resource. Looking ahead, exploration cruises will need to yield increasing amounts of data to support development of higher confidence resource abundance estimates to support issuance of mining permits and detailed design of mining plans and equipment. It is likely

Sep 14, 2011

By Julian Malnic

Transplanting the steps used in exploring and developing mineral deposits on land into the marine environment will help developers. While familiar to oil and gas explorers and many other sea-based industries, the marine environment is so alien to the 90s terrestrial miner that the phrase ?terrestrial mines in the sea? is useful for reinforcing the fundamental parallels in mining sulphides at sea and on land. As on land, the processes of ?pre-feasibility study? and ?feasibility study? will determine the economics of mining a deposit. For many, the step into the sea can detract from the need to follow these familiar and recognised steps used when any new deposit is found on land. The technology to mine sulphides in the 1500 to 2000 m depth range exists. Currently, it is not found in a single, integrated and commercially available system but every element available to build such as system is. Transplanting the thinking of the leaders of the terrestrial mining industry into the sea will perhaps be the greatest challenge and reinforcing the basic steps of discovery - pre-feasibility through to feasibility is the best way to achieve this. After all on land one doesn?t ask ?Can we profitably mine it?? before one can authoritatively answer ?What have we found??. Research by Nautilus Minerals Corporation suggests that the mining of seafloor massive sulphides (SMS) will not only be profitable but potentially lower in both capital and operating costs than prevail in most terrestrial deposits. Nautilus is also acutely aware that with the first SMS deposits under title, it will be setting the standards for seafloor mining into the new millenium. Indeed, we have trained on us not only the eyes of the mining industry waiting to see if SMS deposits really do offer radically better returns, but other stakeholders of the sea and the capital markets. Mistakes by any SMS developer could land all developers in ?hot water?. The rush to exploit our deposits for economic gain will be tempered by ensuring there is adequate public debate and consultation for our environmental code. Failure in any facet of a marine mining development could set back the move to the ocean floor.

Jan 1, 1998