Mining The Deep: All About $ For the Government

The PNG Mine Watch blog posts some unfortunate news today about mining the hydrothermal vents of the PNG coast at the Solwara 1 site.

Papua New Guinea’s Mining Minister, John Pundari told Nautilus chief executive officer Steve Roger that the PNG government was fully committed to supporting the project as indicated through its decision to acquire a 30% stake in the world’s first deep sea mining project.“It is my intention to make an announcement on the fulfillment of the government’s commitment in the next few weeks”

Of course it’s not hard to get the mining permits you need from the government when the government gets to take 30% of the profits.

via Mining Minister visits Nautilus in Brisbane | Papua New Guinea Mine Watch.

Dr. M (1720 Posts)

Craig McClain is the Assistant Director of Science for the National Evolutionary Synthesis Center, created to facilitate research to address fundamental questions in evolutionary science. He has conducted deep-sea research for 11 years and published over 40 papers in the area. He has participated in dozens of expeditions taking him to the Antarctic and the most remote regions of the Pacific and Atlantic. Craig’s research focuses mainly on marine systems and particularly the biology of body size, biodiversity, and energy flow. He focuses often on deep-sea systems as a natural test of the consequences of energy limitation on biological systems. He is the author and chief editor of Deep-Sea News, a popular deep-sea themed blog, rated the number one ocean blog on the web and winner of numerous awards. Craig’s popular writing has been featured in Cosmos, Science Illustrated, American Scientist, Wired, Mental Floss, and the Open Lab: The Best Science Writing on the Web.

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2 comments on “Mining The Deep: All About $ For the Government
  1. Dr “M”
    You say that “Of course it’s not hard to get the mining permits you need from the government when the government gets to take 30% of the profits.”
    At the time the permits were granted the PNG government had not taken up a 30% interest in the tenements.
    What is more, the PNG government must pay for its 30% equity, its not free carried in any way.
    Nor was the Minister for Mining involved in the formulation of the determination to grant the tenements, that occurred through a normal process by the recomendation of the Mining Advisory Council.
    The Minister was not involved in that process.

  2. I agree with Wesley.
    The PNG Watch post is a cheap and biased shot.
    They should do their homework and at least read the permit details.
    Lets hope that the Solwara 1 will address environmental concerns, otherwise I don’t see any “conspiracy” here.

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