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By Hans Smit

The face of mining as we know is changing as mining companies all over the globe realize the reality of accessing the vast mineral wealth contained on, and under, our ocean floors. With some land based mineral deposits being fully exploited across the world, deep sea mining is set to revolutionize global approaches to the search for precious metals and other sought after minerals. Previously, the financial and technological implications of deep sea mining outweighed the benefits of access to the mineral rich deposits identified all around the world. The process of marine diamond mining off the west coast of southern Africa started in the late 1950s, and subsequently continued by De Beers to the present day, has proven to be an excellent proving ground for the development of technology and mining systems that ensure a sustainable and financially viable business.

Jan 1, 2011

By Det Juridiske Fakultet, Maria Madalena das Neves

The ocean is increasingly seen as the answer for a myriad of challenges facing humankind. In effect, in addition to being vital for transportation and communication, the oceans contain living and non-living resources that are essential to meet the demand for food, and to the development of pharmaceutical products, energy resources, and high-technology products. This entails that the oceans are under pressure by different activities: navigation, fishing, oil and gas exploration and production, renewable energy development, laying of cables and pipelines, marine scientific research, bioprospecting, and deep-sea mining for minerals and metals. The growing demand for essential minerals and metals such as cobalt, nickel, zinc, copper, and manganese, seen in tandem with technological advances in deep-sea mining, makes the latter an increasingly attractive activity, both in areas within and beyond national jurisdiction. At the same time, the further development of deep-sea mining adds to the problem of the competing uses of maritime space and accentuates the need to balance and articulate the interests of the different users of the seas (States, sponsored deep-sea mining investors, oil and gas investors, fishermen, shippers, etc.). Furthermore, as deep-sea mining activities increase and move on to an exploitation phase so does the possibility of new disputes (for instance during deep-sea mining exploitation a communication’s cable is severed, a vessel conducting deep-sea bottom fisheries damages deep-sea mining equipment, etc.).

Jan 1, 2018

By Johnson R. Cann

Ocean floor sulfide deposits are now known from many parts of the world mid-ocean ridge system and from some seamounts. Clearly they can be expected to occur commonly on the ocean floor. However, only two or three of the known deposits appear to approach the million-ton size, and in none of the deposits has the grade been well-defined. Can knowledge of the processes that happen within the hydrothermal plumbing below deposits help define the conditions under which large, high-grade deposits form? Here I review present knowledge of ocean-floor hydrothermal processes to attempt a first answer to this question. There are three sources of information about these processes. The solutions emerging from active systems must be compatible with patterns of alteration that underlie the volcanogenic sulfide deposits of ophiolite complexes, which are slices of ocean crust thrust onto land. Both of these types of evidence can be linked by computer modelling of the exchange of heat and metals between rocks and flowing water.

Jan 1, 1988

By C. Wildman

Prospectivity modeling of seafloor massive sulphide (SMS) deposits has been completed over the Kermadec Arc-Colville Ridge area using the GIS based weights of evidence and fuzzy logic modeling techniques. SMS deposits are the current equivalent of ancient onshore volcanogenic massive sulphide (VMS) ore deposits. These high-grade deposits are formed on the seafloor and commonly consist of a black smoker and metal rich sediment mound complex resulting from the discharge of hydrothermal fluids (up to 400°C) from fractures on the seafloor. Metal sulphides are continuously precipitated in response to mixing of high-temperature hydrothermal fluids with ambient seawater. Accumulation of metal sulphides has led to SMS deposits being potentially major sources of copper, zinc, lead and other metals such as gold, silver, which to date remain untapped. Modeling of SMS deposits was undertaken to illustrate the power of GIS modeling for seafloor resource evaluation and how it can be used to quickly identify and rank in terms of the most likely prospective areas of the seafloor where new SMS deposits might exist. The mineral deposit modeling was constrained by the mineral systems concept which defines those parts of a mineralisation system that are critical to the ore-forming process. The deposits are typically formed in extensional tectonic settings, including both submerged tectonic margins and sea-floor spreading. Volcanic vent systems and underlying dykes, stocks and sills are the sources of heat that are responsible for converting sea water drawn down through fractures in the oceanic crust into an ore-forming hydrothermal fluid. This fluid is then capable of leaching metals and elements from surrounding footwall rocks, which are then transported upwards via the convection of hydrothermal fluids. The ore materials are then precipitated within the black smoker field as massive sulphides due to the mixing of high-temperature (250-400°C), metal-rich hydrothermal fluids with cold (about 2°C) oxygen bearing seawater.

Jan 1, 2011

By B. J. Bluck

Diamond mega-placers, in order to rank amongst the primary diamond deposits, are defined as => 70 m carats at =>95% gem quality. There is only one mega-placer known and that is found along the coast of southwestern Africa fringing the Kaapvaal craton. Placers are classified as residual when they are left on the craton, transient when being eroded into the exit drainage and terminal. Terminal placers, in being the final depositories of diamonds off the craton, have the greatest probability of being a mega-placer and such is the case in the placer deposits near the Orange River mouth, southwestern Africa. There are four main groups of conditions leading to the development of a mega-placer: the craton, the drainage, the nature of the environment at the terminus and the timing. The craton, in its role as the producer of diamonds is significant in respect to its size, diamond-fertility, the degree to which diamonds from successive kimberlite intrusions have been retained there and their availability to the final drainage yielding the mega-placer. Cratons in being buoyant have a tendency to leak diamonds into surrounding basins but in being incompressible often have orogens converge onto them resulting in lost sediment being returned as foreland basin fills. In order to concentrate a bulk of diamonds the drainage basin has to be large with a high proportion of it on the craton. The drainage yielding the mega-placer should ideally not have been preceded by older drainage and other systems that may have robbed the craton of earlier diamonds. The exits of diamonds from the craton need to be few in order to focus on their supply and the drainage network needs to be efficient in order to remove the maximum volume of diamonds off the craton. This efficiency and the focused termination is best achieved by the rejuvenation of a pre-existing drainage network. The drainage should be young enough to yield host sediments friable enough to allow brittle diamonds to be recovered from them.

Jan 1, 2004

By Stephen Hall

Introduction Marine Autonomous Systems are making rapid progress from their early years as research tools for university departments & government institutes into having a growing number of real-world applications for industry, academia, statutory inspection, data acquisition and defence. Deep sea mining offers a distinct set of challenges that are very well suited to autonomous underwater vehicles (AUVs) and to a lesser extent for autonomous surface vehicles. Deeper, smarter, more capable Global demand for rare earth metals and high-grade ore will inevitably lead to exploitation of deep ocean resources as terrestrial reserves become depleted or remain unavailable for political or environmental reasons. Winning production licenses from the international seabed authority and especially gaining public trust to undertake deep sea mining activities and licenses will depend upon high quality pre-exploitation scientific surveys of the sea floor ecosystem, and subsequent monitoring of the impact of mining activity and remediation work. The actual area covered by the seabed mining operation may be quite small in terms of square kilometres, but still larger than can be patrolled by tethered ‘eyeball’ class Remote Operated Vehicles, so multi-spectral inspection, assessment and monitoring will be more effective when carried out by untethered AUVs. By using seabed recharging stations and data upload points the AUV can stay in situ in the deep ocean, rather than be repeatedly brought back to the surface.

Jan 1, 2018

By Sofia Martins, Anna Lichtschlag, Sven Petersen, Fernando Barriga, Bramley Murton, Adeline Dutrieux

"Sediments in the vicinity of the hydrothermal seafloor massive sulphide (SMS) mounds are characterized by high concentration of metallic particles. They result from a long process of weathering of the primary mineral deposits and have been accumulated in depressions by mass wasting and hydrothermal plume fall-out. We present here the first results obtained on pore waters analyses of such sediments in distinct geological seafloor environments (in low-temperature hydrothermally active zones, on extinct hydrothermal mounds and in a remote depositional channel). Vertical concentration profiles suggest that the pore fluid composition is affected more by seawater circulation compared with hydrothermal fluid flow in all environments. The composition of pore fluids is affected by diagenesis and redox processes in the distal depositional channel where Mn2+ is released at depth with Cu2+.IntroductionMarine hydrothermal fields, hosting seafloor massive sulphides, are potential resources for future deep-sea mining and might become economic reserves for the industries. They are widespread at mid-oceanic ridges, arcs and back-arc spreading centers (Hannington et al., 2011; German et al., 2016). Sediments in the vicinity of these fields can contain unusually high concentration of Fe, Mn, Zn and Cu among other metal elements (Shearme et al., 1983). These hydrothermal, or metalliferous, sediments result from a combination of processes such as collapsing and weathering of chimney material, filling of the channels by turbidite-like mass wasting, in situ authigenic mineralization and hydrothermal plume fall-out (Goulding et al., 1998; German et al., 1990). The sediments contain important indicators reflecting the development of the hydrothermal systems. Because of their widespread distribution and metal content, they themselves can be considered potential mineral resources. Circulation of seawater through these deposits, however, often modifies the sediment composition by oxidizing the sulphides into oxyhydroxides and clays causing mobilization of the metals. To address the importance of alteration and diagenesis of these hydrothermal sediments, including the result of seawater circulation, we investigated the post-depositional processes occurring in the hydrothermal sediments at the TAG Hydrothermal Field (Mid-Atlantic Ridge, 26°N), focusing on the mobility of metallic cations in a number of different seafloor environments."

Jan 1, 2017

By Eric J. Foell

The Offshore Technology Conference (OTC) was founded in 1969 when a group of scientific and technical societies organized an annual conference and exhibition dedicated to technologies used in the offshore oil, gas and mining industries. Currently, OTC is sponsored by 12 industry organizations and societies. These include: American Association of Petroleum Geologists (AAPG); American Institute of Chemical Engineers (AIChE); American Institute of Mining, Metallurgical, and Petroleum Engineers (AIME); American Society of Civil Engineers (ASCE); ASME International Petroleum Technology Institute; Institute of Electrical and Electronics Engineers/Oceanic Society (IEEE-OES); Marine Technology Society (MTS); Society of Exploration Geophysicists (SEG); Society for Mining, Metallurgy, and Exploration (SME); Society of Naval Architects and Marine Engineers (SNAME); Society of Petroleum Engineers (SPE); and The Minerals, Metals, and Materials Society (TMS). OTC also has two endorsing organizations, the International Association of Drilling Contractors (IADC) and the Petroleum Equipment Suppliers Association (PESA), as well as 6 supporting organizations that include the American Petroleum Institute (API), the Independent Petroleum Association of America (IPAA), the Institute of Marine Engineering, Science, and Technology (IMEST), the International Association of Geophysical Contractors (IAGC), the National Ocean Industries Association (NOIA), and the United Kingdom Offshore Operators Association (UKOOA). From its earliest years, the OTC has been held during the first week of May in Houston, TX, initially at the Albert Thomas Convention Center where OTC?69 drew 4200 attendees and 200 exhibitors. As the conference grew and became established as the world?s foremost event for the development of offshore resources in the fields of drilling, exploration, production, and environmental protection, the venue was changed to the Astrodomain Complex, with technical paper sessions and most exhibits taking place in the Astro Hall. The numbers of attendees and exhibitors varied somewhat over the years, primarily in accordance with the fortunes of the international oil and gas industry. At its height in the early 1980s, OTC registered attendance exceeded 100,000 with more than 2500 exhibitors forcing expansion into the Astro Arena and even the Astrodome.

Jan 1, 2005

By Raymond A. Binns

Exploration for high-value massive sulfide deposits on the ocean floor typically commences with a search for chimney fields in appropriate geological settings, followed by collection and assaying of standing chimneys. Individual chimney fields are generally too small in aggregate volume to constitute viable resources in their own right. Unless numerous small fields occur in reasonably close proximity, presence of plentiful sub-seafloor mineralization with acceptable metal tenor is the more likely requirement for potential exploitation. Expensive drilling is required to prove up mounds of collapsed chimneys, or dilatory sheets and veins or replacements of massive/semimassive sulfide (?stockworks? or ?manto?-like bodies) in underlying host rock. Where multiple targets have been defined, as many parameters as possible are desirable to help rank them for drilling.

Jan 1, 2011

By M. Ye. Melnikov

The report is about oceanic ferromanganese crusts ? covers of iron and manganese hydroxides developed over an opened rock of seamounts and rises. Ore bed parameters of crusts are understandable as their thickness and content of main economic components ? manganese, cobalt and nickel. All known results of research activity on ferromanganese manganese crusts point to that crust are characterized by notable variability of thicknesses and composition. It is possible to separate few levels of variability. The most evident is the first level of parameters variability, which is manifested in various regions of the Ocean, and connected first of all, with an age of submarine mountains, a host objects for a crusts. It was proved by many authors, that most powerful crusts are connected with submarine mountains of Cretaceous age. [1]. Crust thickness at the Magellan Seamounts reaches, for example 12-15 cm, sometimes exceeds 20-22 cm. Thicknesses of Hawaii Archipelago or Tuamotu crusts in 3-4 times less. Biostratigraphy studies of crustal sections at the Magellan Seamounts already show, that its main part started to form in the Late Paleocene. Four layers with well expressed features in structure and composition of a layer are separated in the section. From foot to top: Late Paleocene ? Early Eocene layer I-1, Middle-Late-Eocene layer I-2, Miocene layer II and Pliocene ? Quaternary layer III. Relics of more ancient Campanian ? Maastrichtian ore layer [2, 4] were discovered. It is evident for example, that Oligocene mountains could not be a host for two lower layers in the crust section.

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 M. Ye. Melnikov

The report is about oceanic ferromanganese crusts ? covers of iron and manganese hydroxides developed over an opened rock of seamounts and rises. Ore bed parameters of crusts are understandable as their thickness and content of main economic components ? manganese, cobalt and nickel. All known results of research activity on ferromanganese manganese crusts point to that crust are characterized by notable variability of thicknesses and composition. It is possible to separate few levels of variability. The most evident is the first level of parameters variability, which is manifested in various regions of the Ocean, and connected first of all, with an age of submarine mountains, a host objects for a crusts. It was proved by many authors, that most powerful crusts are connected with submarine mountains of Cretaceous age. [1]. Crust thickness at the Magellan Seamounts reaches, for example 12-15 cm, sometimes exceeds 20-22 cm. Thicknesses of Hawaii Archipelago or Tuamotu crusts in 3-4 times less. Biostratigraphy studies of crustal sections at the Magellan Seamounts already show, that its main part started to form in the Late Paleocene. Four layers with well expressed features in structure and composition of a layer are separated in the section. From foot to top: Late Paleocene ? Early Eocene layer I-1, Middle-Late-Eocene layer I-2, Miocene layer II and Pliocene ? Quaternary layer III. Relics of more ancient Campanian ? Maastrichtian ore layer [2, 4] were discovered. It is evident for example, that Oligocene mountains could not be a host for two lower layers in the crust section.

Jan 1, 2010

By Harold Gibson, Ulrich Schwarz-Schampera, Ralf Freitag, Hendrik Mueller

INTRODUCTION Germany has a long history in marine research in the Indian Ocean. The first German scientific cruise started in 1964, followed by a series of state-sponsored research cruises between 1983 and 1995 leading to the first finding of polymetallic sulfides in the Indian Ocean. The research included regional bathymetric, geological, structural, volcanological, petrological and hydrothermal investigations along the Carlsberg Ridge and the Central Indian Ridge (CIR). Early environmental base line studies covered oceanographic and sedimentology aspects. In 2010, BGR took the initiative for the preparation of a license application for the exploration of polymetallic sulfides with the International Seabed Authority (ISA), and prospecting started in 2011 along the southern Central (CIR) and the northern Southeast Indian Ridge (SEIR) in the southwestern Indian Ocean (cruises INDEX 2011 on board R/V Sonne), INDEX 2012 (R/V Fugro Gauss), INDEX 2013/1-2 (R/V Sonne) and INDEX 2014 (R/V Pelagia). After three years of resource-oriented and environmental base line studies, BGR, in order for the Federal Ministry for Economic Affairs and Energy (BMWi), applied for an exploration license which was approved by and subsequently signed with the ISA in 2015. The license gave permission to start a detailed exclusive resource-oriented exploration program in the license area. The program includes the outline of potential ore deposits and a resource assessment but also extensive and detailed base line studies for the sustainable protection of the marine environment in the license area. The license contract has a fifteen years lifetime and may allow the application for a subsequent mining license. The exploration aims at the identification of inactive polymetallic sulfide deposits, formed below former discharge zones of hot hydrothermal fluids on the ocean floor (“black smoker” systems), by advanced and modern exploration techniques.

Jan 1, 2018

By Raymond A. Binns

Exploration for undersea polymetallic sulfide mineral resources with high economic potential would be more effective given an ability to predict sites with particularly high gold contents (averaging say > 10 ppm Au). Herzig et al (1993) addressed this issue shortly after recognition that deposits in the back-arc Lau Basin (average 3.8 ppm Au) were enriched in gold relative to mid-ocean ridge sites (average 1.2 ppm Au). Small but significant numbers of hydrothermal sites with massive sulfide deposits averaging >10 ppm Au have since been discovered. The principal genetic factors underlying gold enrichment include depositional processes at and below the seabed, and the source of gold. It is timely to consider whether resolution of their relative importance can be translated into practical criteria for exploration strategies focused on especially gold-rich deposits. Comparing the ?grade? of seafloor deposits using analyses cited in research papers is fraught with difficulty, but there is no alternative at present to assuming that such averages provide an initial tenor guide. On this basis, four known polymetallic hydrothermal sites from convergent plate margins fit the exceptional-gold category with >10 ppm ?average? Au, while one from a divergent margin comes close: Sunrise (Myojin Knolls; 20 ppm ?average? Au) and Suiyo Seamount (28 ppm Au) in the Izu-Bonin Arc are frontal arc volcanoes dominated by rhyolite and dacite respectively, contrasting with more common mafic neighbor edifices (Iizasa et al., 1999). In both cases gold-rich massive sulfides occur in summit calderas with significant development of pumiceous volcaniclastic rocks, at depths around 1300 and 1370 m respectively. In the Eastern Manus Basin, PACMANUS (~1700 m; 14 ppm Au) and Suzette (~1550 m; 22 ppm Au) occur along the crests of volcanic ridges dominated by dacite/rhyodacite and andesite/mafic dacite respectively (Binns, 2004). Caldera structures are lacking. Although the Eastern Manus Basin is tectonically a rifted back-arc, its submarine volcanic edifices (picritic basalt to rhyodacite) have distinctly arc-style geochemical and isotopic affinities, differing from more typical back-arc basin basalts at the spreading axis further west (central Manus Basin). Probably as a consequence of transpression and a marked rupture in the New Britain subduction zone, submarine arc volcanism has here extended into the rifted back-arc region.

Jan 1, 2005

By Gale L. Hubred

Kennecott?s Ledgemont Laboratory developed the Cuprion Process to recover metal values from manganese nodules in the early 1970s. A reducing leach of monovalent cuprous ion attacks the manganese oxide matrix, converting the manganese dioxide to manganese carbonate and releasing the copper, nickel, cobalt, and zinc as ammine complexes. Cuprous ion is generated by contacting leach liquor with carbon monoxide. Copper, and nickel, are recovered by solvent extraction and electrowinning. Cobalt is precipitated as cobalt sulfide and recovered as cobalt powder. Manganese, molybdenum, and zinc can be recovered optionally but have not been included in this process. Kennecott authors have described aspects of the process, but the Cuprion process has not been revealed except in patents. Tables are included for capital and operating costs and revenue. Even though economic recovery of nodules is not anticipated in the foreseeable future, some of the process steps may have application in other places. The Ledgemont Laboratory was a unique operation we think worth documenting. The report is based upon work done up until the mid 1970s. The report represents the work of the entire Kennecott nodule team. It is this author?s intention to save this result and credit the work of that nodule team. The paper is dedicated to the memory of Dr. Herbert Barner, a key member of the team who died in 2003.

Jan 1, 2005

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 Stephen J. Juras

The Myra Falls deposits comprise a complexly metal-zoned polymetallic volcanogenic massive sulfide district located 90 km from Campbell River in central Vancouver Island, British Columbia, Canada. The massive sulfide deposits are hosted by subaqueously-deposited rocks of the Devonian age Myra Formation of the Sicker Group volcanic assemblage. The deposits comprise many individual massive sulfide lenses grouped into several major zones within two main felsic volcanic stratigraphic intervals - the upper Lynx-Myra-Price Horizon and the lower H-W Horizon. The largest of these zones, the H-W and Battle, occur within the H-W Horizon. The first claims in the area of what is now Boliden-Westmin?s Myra Falls Operations were staked in 1917. Early prospecting resulted in the discovery of three massive sulfide showings which eventually became the Lynx, Myra and Price mines. Sporadic exploration was carried out until 1961 when Western Mines Ltd. (now Boliden-Westmin Ltd.) acquired the claims. Subsequent ore definition outlined 1.9 million tonnes of ore (approximately 5 years of mine life) in the Lynx deposit, and mining began in 1966. Pre-mining geological reserves (to January 1, 1997) comprised 6.7 million tonnes grading 3.3 g/t Au, 130.6 g/t Ag, 2.0 % Cu, 1.4 % Pb and 10.2 % Zn for the Lynx-Myra-Price deposits, 17.1 million tonnes grading 2.3 g/t Au, 32.7 g/t Ag, 2.3 % Cu, 0.3 % Pb and 4.2 % Zn for the H-W deposits and 4.2 million tonnes grading 1.1 g/t Au, 27.0 g/t Ag, 2.2 % Cu, 0.5 % Pb and 12.0 % Zn for the Battle deposits. Property-wide production to January, 1996 has been 15.7 million tonnes grading 2.1 g/t Au, 58.7 g/t Ag, 1.9 % Cu, and 5.2 % Zn.

Jan 1, 1998

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