Deep Sea Mining Finance has reportedly extracted 180 metric tons of material from the seafloor
Trouble is brewing off Papua New Guinea 's coast, where starry-eyed miners are conflicting with communities and regulators in their pursuit of sea minerals . A recent report by American conservation agency Mongabay has put Deep Sea Mining Finance in the spotlight, a British Virgin Islands explorer that Mongabay dubs "an obscure company".
extracted approximately 180 metric tons of material from the site without authorisation. The group alleged that 's acquisition of Nautilus Minerals' assets, including the Solwara 1 licence, has not been without controversy. Nautilus went bankrupt in 2019, leaving Papua New Guinea's government with millions in debt. Since then,
, the Omani conglomerate, MB Holdings and the US sanctioned Uzbek-born oligarch, Alisher Usmanov via Metalloinvest." "Papua New Guineans have been left in the dark about the nature of the partnership between the Government and and civil society will continue to call for caution. Some of our leaders have already voiced concerns. We hope that civil society will be included in future discussions, not just the industry and technical CROP agencies. The Papua New Guinean government's stance on the operation remains ambiguous. Earlier in August, the country's Mineral Resources Authority released a statement announcing that mineral exploration has been declining since 2019.
Papua New Guinea Sea Minerals Solwara 1 Bismarck Sea DSMF Deep Sea Mining Finance Hydrothermal Vents Environmental Impact Mining Moratorium Mineral Exploration American Conservation Agency Mongabay Nautilus Minerals MV Coco Experimental Mining Satellite Tracking Mining Regulations Community Conflict Regulatory Oversight Ocean
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