World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

Nautilus:: Economic Viability & Environmental Risks

Nautilus Questioned On Economic Viability and Environmental Risks

ASIA PACIFIC. Deep sea miner, Nautilus Minerals held it's shareholder meeting yesterday in Toronto, Canada and were questioned by concerned citizens from Papua New Guinea, Canada and Australia about the viability and environmental risks of the company's controversial plan to build the world’s first deep sea mine.

Nautilus is in dispute with the Papua New Guinea Government over the financing of its Solwara 1 project resulting in the suspension of the project in November last year. With its share price sinking from over $2 to well under C$0.50 the viability of Nautilus' venture is being called into question.

The Solwara 1 project in Papua New Guinea has stimulated widespread opposition from many sectors of PNG society – from scientists, students, university lecturers, church leaders and members of local coastal communities.

Oigen Schulze, Director of Zero Inc, a community organisation in New Ireland Province, Papua New Guinea said, “Local communities have NOT sanctioned the Solwara 1 project. Experimental mining of our seabeds is not going to provide any direct services or benefits for local communities.”

“The evidence is clear – our people have already paid a high price, both socially and economically with land-based mining despite the best intentions of our governments. Mining revenues have not justified the costs of damage to livelihoods and environmental degradation. The uncertainties and the risks associated with deep sea mining are even greater.”

The Deep Sea Mining (DSM) campaign has released two reports highlighting flaws in Nautilus’s EIS of its Solwara 1 project.

Dr. Catherine Coumans, Mining Watch Canada said, “The EIS should have provided the basis for identifying risks and the development of strategies to manage them. Nautilus’s Solwara 1 EIS fails to do this. The many errors and omissions in the modelling and analysis of data means that the EIS underestimates the risks to local communities associated with Solwara 1. The liabilities to shareholders may be significant.

Natalie Lowrey, Communications Coordinator, Deep Sea Mining campaign said, “It is clear that with the high level of concern generated by Solwara 1 in PNG, the project should not go ahead until Nautilus has gained the consent of PNG communities and until the company can show it has addressed the serious gaps and mistakes in the Solwara 1 EIS.”

ENDS

© Scoop Media

 
 
 
World Headlines

 


UN News: Rare Coral Reef Discovered Near Tahiti Is ‘Like A Work Of Art’, Says Diver
One of the largest coral reefs in the world has been discovered by a UN-supported scientific mission off the coast of Tahiti. Announcing the stunning find on Thursday, UNESCO said that divers had explored large rose-shaped corals spanning some three kilometres, at depths of between 30 and 65 metres... More>>


Tonga Eruption: At Least 3 Dead, Amid Severe Destruction
At least three people have died in Tonga following the massive volcanic eruption and subsequent tsunami wave that hit over the weekend. Homes and other buildings across the archipelago have suffered major damage... More>>

Save The Children: Tonga Volcano Ash And Smoke Cause Concern For Air And Water Safety
Families in Tonga are at risk of exposure to unsafe air and water due to ash and smoke from the Hunga Tonga-Hunga Ha’apai volcano that erupted on Saturday, reports Save the Children...
More>>



Ethiopia: UN Chief Lauds ‘Demonstrable Effort To Make Peace’

The UN Secretary-General on Wednesday said he was “delighted” to learn that “a demonstrable effort to make peace” in Ethiopia is finally underway, according to information relayed to him by the African Union High Representative for the Horn of Africa... More>>


Tigray: Agencies Suspend Aid As ‘Scores’ Are Killed Due To Airstrikes
Recent airstrikes on camps for internally displaced persons and refugees in Tigray, northern Ethiopia, have reportedly killed scores of civilians, including children, and left many more injured... More>>


UN News: For 25th Year In A Row, Greenland Ice Sheet Shrinks

2021 marked the 25th year in a row in which the key Greenland ice sheet lost more mass during the melting season, than it gained during the winter, according to a new UN-endorsed report issued on Friday... More>>