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Welina mai to the 40th Underwater Mining Institute, UMI 2011 - Marine Minerals: Recent Innovations in Technology. Since the first conference in Milwaukee, Wisconsin in 1970, the UMI Founder Professor Robby Moore always insisted on actively seeking the participation of industry, academia, and government. History has proven the wisdom of this approach, which is probably the key to its survival for so many years. The UMI is very much influenced by the cyclical pressures of the minerals commodity markets. When minerals demand and prices are rising rapidly, industrial participation in the Institute dominates the agenda, and participants share optimistic and aggressive views of the commercial prospects of the day. When metals prices are falling and world economies lethargic, academic experts continue to provide guidance and breakthroughs in the concepts and practices of exploration, technology, and environmental protection. Throughout the ups and downs, government participants provide a stabilizing force with conservative and environmentally sensitive policy statements, patient development efforts with long-term objectives, authoritative resource assessments and, sometimes, much needed regulatory clarity.

Jan 1, 2011

By Steinar L. Ellefmo, Thomas Kuhn

The deep-sea ocean floor offers a great potential for mineral resources. The evaluation of these resources is both time consuming and costly and require as any resource evaluation data; geodata. The collection of hard data, physical samples, is of course preferred because the associated uncertainty is low. However, the collection of soft data or image derived data can offer a valuable supplement. In this paper image derived nodule uncertain abundance data from an area in the Pacific is utilized. Implementing these uncertain data improves the estimation when the quality of the estimation is measured using the classification indicators like the kriging standard deviation, the relative prediction error, the slope of regression and the weight of the mean. It is concluded that uncertain data is better than no data. INTRODUCTION The deep-sea offers vast mineral resources (Cathles (2011), Hannington et al. (2011), Hannington (2013), Singer (2014)). A mineral resource can according to increasing geological confidence be classified as an inferred, an indicated or a measured resource. The classification is performed by a competent- or qualified person and is dependent on the amount, quality and characteristic of available geodata. The competent person must have at least five years of experience relevant to both the style of mineralisation, the type of deposit and the performed task. Typical examples of a “task” is for example resource estimation and classification or planning- and execution of exploration activities and presentations of the results. The competent person must also be a member or a fellow of a professional organisation and thereby be bound by reporting code (-s) that defines minimum standards, recommendations and guidelines for public reporting.

Jan 1, 2018

By NA UMC

Abstract Booklet

Dec 2, 2023

By NA UMC

Abstract Booklet

Dec 1, 2022

By Manfred Krutein

Ocean mining has a number of problems which are critical to its development: ? Political hurdles on national and international stages ? The worldwide economic situation, with the possibliity of a recession ? Financial difficulties in funding further work ? Technical problems for the development of ocean mining and transport subsystems ? Demands for technology transfer This paper touches the last two points and provides some thoughts for discussion and creative objectification. The many technical problems of ocean mining will be identified and some proposed solutions will be investigated relative to the state-of-the-art technology of ocean mining and nodule transport. An outlook into the future attempts identification of the steps necessary to eventually develop components for workable systems that are not only technically but also economically feasible.

Jan 1, 1978

By André. C. Louw

Diamond production from the reworked beach and river channel gravels along the west coasts of South Africa and Namibia is well known throughout the world, not only for the exceptional quality of the diamonds, but also for the sheer scope of the operations. To date an estimated 140 million carats have been produced from the resource worth some US$40 billion in today's money terms. It is therefore not surprising that it didn't take long before the attention turned towards the possible extension of this valuable diamond resource on similar submerged beaches in the adjacent territorial waters of South Africa and Namibia. This has proved to be a very successful move as the marine production in Namibia today constitutes 48% of that country's total diamond production. Although small scale recovery of diamonds from the sea commenced in the 1950's, the first large scale production came from the operations of the Texan entrepreneur, Sam Collins, in the 1960's. The De Beers Group, which took over Sam Collin's operations in 1969 had all the concession areas, as well as the financial and human resources to tackle the new mining frontier in the correct way by years of data gathering (ie diamond reserves and seafloor terrain studies) before commencing with large scale mining operations in the 1980's. Those who are familiar with the beach mining operations along the South African and Namibian west coasts will have appreciation for the daunting task of surgically removing the payable portion of diamond deposits from the non-payable material on the one hand, and the complex uneven fractured and gullied bed-rock floor of the deposits on the other hand. Not to mention the additional complexities of large boulders and hard calcretised diamond gravel layers (conglomerate) which are sometimes associated with the deposits. It was a natural development that the sea diamond mining operations were approached with the known information of the land operations, attempting to duplicate land mining operations in the sea, but taking cognisance of the variations of the terrain in the different areas. For instance, we encounter the following variations, and combinations, off the Namibian Coast. ? Close inshore - holocene sand cover often masks large areas of potentially diamondiferous gravels. ? In midwater areas (40m - 100m)

Jan 1, 1998

By Akira Usui

The details in small-scale variability of the geological occurrence and chemical composition of ferromanganese crusts are not yet well understood, although the northwestern Pacific seamounts are believed to be among the most promising areas for rare metal resources. Our belief is that geological observations and geochemical analyses are still insufficient for economic evaluation or for discussion of depositional processes and environments. Our team, composed of geologists, mineralogists, geochemists, physical engineers, and microbiologists has attempted to utilize an ROV for in-situ measurement and for sampling of undisturbed and uncontaminated ferromanganese crusts at three typical seamounts in the NW Pacific near the Japanese Exclusive Economic Zone. The first ROV geological survey of ferromanganese crusts was successfully completed, and the ROV proved to be the most powerful, efficient and elegant method to date. The collected samples (more than total 1 ton of crusts, at more than 100 sites along a total of approximately 10 km of survey lines) were most suitable to analyze water-depth dependency and secular variation of their composition. The intact surfaces of crusts, collected without the usual abrasion caused by dredging, were also valuable for microbial study of Mn oxidizing bacteria. The ROV sampling devices, however, can be improved with further sophisticated drills or rock saw blades in the future.

Jan 1, 2011

By Jiahua Pan, Yanxiong Mei, Shuqin Liu, Rongfu Pei

Growth characteristics of Co-rich crusts from the Western Pacific have been approached. The thick crust shows 3 structural layers: compact upper layer, porous middle layer, and compact lower layer. The middle and lower layers have obviously different microscopic structure, color, and luster. Preliminary study of Calcareous nanofossils in one crust shows that the crust began to grow since Paleogene. The porous middle layer was formed from late Miocene to late Pliocene (Ca. 0.5 ~ 11.9Ma) and the compact lower layer was formed from late Paleocene to late Oligocene (Ca. 56.3 ~ 23.2Ma). The sedimentary hiatus of a 14.26Ma was observed between the middle and lower layers. The boundary between them to be Oligocene/Miocene (O/M) shows an important message on growth age.

By Jeremy Spearman, Mark Lee, Jon Taylor, Neil Crossouard, Bramley Murton

"SUMMARYThis paper describes challenges faced when executing a programme of monitoring to measure the dynamics of currents and sediment plumes at a seamount and the solutions identified to deliver the measurements. The study site was the Tropic Seamount, which extends some 3300m above the surrounding seabed and is found at the southern limit of the Canary Island Seamount Province. The purpose of the study, which forms part of the Marine E-tech project, was to provide information on the interaction of flows with the seamount and to assess the behaviour of sediment plumes that could be generated from potential seabed mining operations targeting the recovery of ferromanganese crusts. Since the crest of the seamount is submerged to a depth of 1000m, much of the work was undertaken using remotely operated and autonomous vehicles supported by measurements from the surface vessel. Despite only limited information on currents being available for planning purposes, the combination of short term forecasting using a 3-dimesional hydrodynamic model of the study area coupled with the collection and analysis of reconnaissance data collected during the first phase of measurement activities made it possible to plan and execute a number of detailed hydrodynamic experiments on the seamount crest. The results of these experiments have advanced the understanding of the behaviour of sediment plumes in the deep ocean and will ultimately improve our ability to manage the impacts which may arise from deep sea mining operations."

Jan 1, 2017

By Andrea Koschinsky, Sophie Paul

"INTRODUCTIONOnce again deep-sea mining has been receiving a lot of attention in recent years. Industrial and political advancements also call for environmental baseline studies and analyses to aid the development of standards and monitoring protocols. As part of the EU research project “JPI Oceans: Ecological Aspects of Deep-Sea Mining”, the RV Sonne cruise SO242 to the Peru Basin revisited the DISCOL area that had been artificially disturbed in 1989. This offered the unique opportunity to study a deep-sea site 26 years after a disturbance similar to manganese nodule mining had been carried out (Figure 1). A comparison of a variety of undisturbed and disturbed sites shed light on the re-establishment of a geochemical equilibrium and a range of baseline values. This information can help to inform standard development for monitoring and mining purposes.Heavy metal data and its applicationResearch findingsDuring the cruise, disturbed and undisturbed surface sediment was sampled. The pore water analyses show that the 26 years old disturbance is not visible in the metal profiles and that the pore water reaches equilibrium through diffusive fluxes relatively quickly. The sediment, however, shows some differences between disturbed and undisturbed sites in the upper 20 cm, even after 26 years. Lower concentrations in the usually manganese-oxide rich top layer, variations and “unnatural” peaks in the manganese profiles, for example, suggest removal or mixing of the top layer (Figure 2)."

Jan 1, 2017

By Leonhard Weixler

The Bauer company was founded in 1790 by coppersmith Sebastian Bauer in Schrobenhausen, a small town north-west of Munich. The original workshop business carried out works including repairs to church roofs and brew kettles. Later the company expanded its operations to encompass water pipe installation, which it continued through to the 1980s. In addition to installing water pipes it then also began drilling wells, which were sometimes constructed using very simple methods, such as tripod frames (Figure 1).

Jan 1, 2011

By Sang Joon Pak

Deep-sea mineral resources explored by Korea are categorized into mainly three types; manganese nodules, manganese crusts and seafloor massive sulfides. Manganese nodules have high Pt enrichment factors (EF=400, ore/crust ratios). Rare earth oxides (REO) contents from manganese nodules show from 0.037 to 0.302 REO% with mean value of 0.12%. Te and Pt are highly enriched in manganese crusts, displaying EFs of 10800 and 150, respectively. REO contents of manganese crusts are slightly richer than manganese nodules (0.013~0.387 REO%, average = 0.18 REO%). Seafloor massive sulfides deposits are featured by outstanding values of Se (EF=1300) well as In (EF=110). Au (0.8~26.3 g/t) and Ag (0.9~348.0 g/t) are another enrichment metals in SMS, although they belong to precious metals. Rare earth elements of SMS are meaningless as resources but REE are increasing in sediments overlying SMS. Heavy rare earth elements (HREE) from both manganese nodules and manganese crusts are typically higher than ones from land-based REE deposits. HREO grade and their portions of manganese nodules as well as manganese crusts are greatly similar to ion-absorbed type REE deposits in China, implying REE of subsea mineral resources are absorbed in nodules and crusts. Rare metals including REE could be exploited as by-production of commodities such like Ni, Co, Cu and so on. Rare metal resources from manganese nodules and manganese crusts are featured by low-grade and large scale deposits. Therefore rare metals in subsea mineral resources will add its economic values.

Jan 1, 2011

By James R. Hein

Rodriguez Seamount, located 150 km off the central California coast at the base of the continental slope, was studied using the ROV Tiburon aboard MBARI?s R/V Western Flyer, October 13-16, 2003. Fe-Mn crust and rock samples were collected along the SW flank of the seamount at water depths from 700 to 2100 m; bottom-water dissolved oxygen content (O2) and temperature were determined at each sample site. Fifty-three samples of bulk crusts, crust layers, and surface scrapes (~0.5 mm) were analyzed for 59 elements. Data allow for the correlation of crust compositions with precisely known water depths and seawater O2 measured at the actual site of sample collection. This is the first detailed study of Fe-Mn crust compositions in a region of strong continental-margin upwelling. Compared to open-ocean seamount Fe-Mn crusts, Rodriguez crusts have significantly higher (2-6 fold) mean concentrations of Fe (26.9%), Al (1.65%), Si (13.0%), Cr (82 ppm), Th (64 ppm), and Ag (1.7 ppm); and significantly lower (2-8 fold) mean concentrations of Ca, P, Bi, Co, Cu, Ni, Tl, and especially Te (8.2 times lower). All but one Fe/Mn ratio are >1 compared to <1 ratios for open-ocean crusts. O2 contents (0.35-2.03 ml/L) are nearly perfectly corrected with water depth and elements correlated with one are correlated with the other. The Fe-Mn surface scrapes represent 60-450 ka (mean 150 ka) of growth, whereas the dissolved oxygen contents of seawater represent an instant in time. Assuming that the entire sample set was affected uniformly by oceanographic changes, we suggest that correlation of elements with O2 may reflect oceanographic processes. O2 has a negative correlation with P, V, As, Fe, U, Be, Pb, Cr, Mg, Y, Bi, Te, and REEs (except Ce) and a positive correlation with aluminosilicate-hosted elements (Al, K, Rb, Cs). This later relationship is related solely to water depth, indicating that detritus shed down the seamount slopes accumulates in greater abundances in deeper-water crusts. Si/Al ratios indicate that the detritus includes a large component of biosilica produced by upwelling-mediated high productivity. These observations are supported by positive correlations of aluminosilicate-hosted elements with crust growth rates (range 1.2-13.0 mm/Myr). In contrast, other elements (Sr, Co, Mn, Mg, Te, As, Mo, V, W, U, Ti, Ni, REEs, etc.) are negatively correlated with growth rates. Growth rate has a weak positive correlation with O2. These compositional characteristics indicate that even though low-O2 seawater acts as a reservoir for Mn and associated elements and produces slow growth rates, which would allow for the concentration of elements and surface oxidation processes to occur, the high rate of input of detritus and high bioproductivity ameliorate the strong concentration of most metals. This dilution is significantly enhanced by the doubling of FeOOH in the crusts--the main cause of the generally high growth rates compared to open-ocean crusts. The high growth rates limit the oxidation of Co, Tl, and especially Te on the crust surface, which is reflected by their relatively low concentrations. Within the range of oxygen contents measured, O2 has less of an influence on crust chemistry than does the availability and incorporation of FeOOH and detritus.

Jan 1, 2004

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 James M. Franklin

Research on modern hydrothermal systems provides quantitative measures of the processes of formation of hydrothermal fluids and of precipitation mechanisms from them. Studies of ancient deposits provide new information regarding volcanological processes that are related to the deposits, as well as data on their spatial and temporal compositional variations. Mew exploration guidelines result from both aspects of research. The most fundamental requirement for large metalliferous hydrothermal systems is an abundant heat supply for the upper two kilometers of the crust. This heat may come from a focused heal source (shallow-level subvolcanic intrusion), but ambient heat also may have provided enough energy for the reactions necessary to effect leaching of metals, especially where heat flow is particularly high (i.e. very large or high-temperature magmatic source, such as ultramafic environments). For most VMS systems, the majority of the metals were derived through leaching from footwall strata; in addition interstratal fluids may enter subvolcanic intrusions during episodes of magma a chamber "cracking," engendering some &apos;?magmatic" component in the hydrothermal system. Direct contributions of metalliferous magmatic fluid also may be significant from arc-related or back-arc felsic or alkalis systems. These latter contributions may form exceptionally high - grade portions in some deposits. Subvolcanic intrusions, which are excellent indicators of high heat flow and may have been the direct driving mechanisms for some stems undergo two stages of alteration: On intrusion emplacernent. fluids may rapidly enter and react with their mesostatic portions, evident in the sills in the Middle Valley. High temperature interactions caused albitization and destruction of oxides and sulfides, releasing metals. During terminal hydrothermal stages, the metalliferous fluid collapsed into the intrusions, forming disseminated and vein sulfides.

Jan 1, 1998

By Peter A. Rona

The Mid-Atlantic Ridge in the central North Atlantic and the Gorda Ridge within the U.S. Exclusive Economic Zone off northern California and southern Oregon are yielding new discoveries of seafloor hydrothermal mineralization. The TAG hydrothermal field in the rift valley of the Mid-Atlantic Ridge near 26 degree N, 45 degree W has been a site of international collaborative research since the discovery there of extensive manganese deposits associated with low temperature hydrothermal activity in 1973 as part of the TAG (Trans-Atlantic Geotraverse Project). The first high-temperature hydrothermal activity, massive sulfide deposits and vent biota discovered in the Atlantic were found at the TAG hydrothermal field in 1985. Collaborative dive series with DSV ALVIN in 1990 and in 1991 with the two Russian MIR submersibles in the TAG field have found and sampled large inactive sulfide mounds in addition to the previously known active sulfide mound. The active sulfide mound on the floor of the rift valley is about 250 m in diameter and 40 m high with a concentric zonation of mineral types and flow regimes decreasing in temperature from 365 degree C black smokers at the center to white smokers and diffuse flow toward the margins. The recent dive series in coordination deep-towed instrument surveys have delineated a zone extending about 5 km along the lower east wall of the rift valley of inactive sulfide mounds up to a kilometer in diameter. MIR Mound in this zone consists of a central sulfide zone about 400 m in diameter and 50 m high surrounded by a halo of low-temperature deposits to 200 m wide. Inactive sulfide chimneys contain the first primary, free gold grains found at a hydrothermal site on a mid-ocean ridge (P.A. Rona, Y.A. Bogdanov, E.G. Gurvich, N.A. Rimski-Korsakov, A.M. Sagalevitch and M. D. Hannington, 199 1 EOS, Transactions, American Geophysical Union, 72:470-471 and Journal of Geophysical Research, submitted).

Jan 1, 1992

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 Gregory Abramov

Borehole Mining (BHM), a remotely-operated waterjet mining method (Figure 1), has recently achieved two major milestones. It was, for the first time, applied to the extraction of manganese ore and at temperatures below freezing. The 1St stage is a demonstration test that is now underway just north of Emily, Minnesota, where the manganese ore is located 100-160m below the surface and its reserves are estimated to be in excess of 500,000 tons. The deposit was discovered over 60 years ago but, due to the fragile and sensitive nature of this Land of 10,000 Lakes (nickname for the State of Minnesota) and strong environmental restrictions, the iron/manganese reserves were deemed unrecoverable and remained untouched until late 2010 when permission for a single-hole demo-test was issued by the local Department of Natural Resources.

Jan 1, 2011

By Jan M. Peter

Many massive sulfide deposits and districts around the World contain rocks that are variously referred to as ?exhalites?, banded iron formation (IF), ?Algoma-type? IF, ferruginous chert, jasper, jasperoid, cherty tuff, tuffite, tuffaceous exhalite, chloritic IF or sulfide IF. With few exceptions, such rocks are thought to be (in part) fossil hydrothermal sediments deposited from hydrothermal fluids vented into a submarine rift environment. Such hydrothermal sediments are associated with a wide variety of ancient base-metal sulfide deposits (e.g., Cyprus-, Besshi-, Kuroko-, and Broken-Hill-type deposits), and hydrothermal sediments are commonly associated with some of the largest base metal sulfide deposits in the world. Analogs of ancient hydrothermal sediments can be found around many modern seafloor hydrothermal deposits which themselves precipitate from high-temperature (350°-400°C) hydrothermal fluids. Hydrothermal fluids are quenched on contact with ambient seawater, and most of the metals are immediately precipitated to form the mound and chimney deposits. However, for kinetic and solubility reasons, not all metals and other species are immediately precipitated at the vent site. Fine particles (up to several hundred microns in diameter) of sulfides, sulfates, carbonates, oxides, silica, Fe-oxyhydroxides, clays, and other phases are precipitated from the hydrothermal fluids in the water column above the deposits. These particles or "particulates" are carried upward for several hundred meters in a buoyant hydrothermal plume (which is typically several hundred meters thick) until it reaches a neutral density, and disperses laterally from the vent site. Modelling of plume dynamics has shown that the majority of particulates are deposited by gravitational settling a few hundred meters from the vent site, and Å99% of particulates are deposited within 3 kilometers. However, signals from modern plumes have been detected even hundreds of kilometers from their source. Factors which can affect the morphology of the plume (and the resultant fallout pattern) include: particulate size, shape and density, bottom topography, and the direction and velocity of bottom currents.

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