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Nautilus Minerals Inc. (TSX: NUS) is an underwater mining company headquartered in Toronto, Canada.[1] Nautilus is developing the world's first seafloor copper/gold project at its Solwara 1 deposit in the Bismarck Sea within the territorial waters of Papua New Guinea. Nautilus is the first company to commercially explore the seafloor for massive sulphide systems.

Seafloor Massive Sulphide (SMS) deposits form directly on the ocean floor where superheated water carrying metals from deep in the earth mixes with cold seawater depositing metal-rich minerals. They are considered the analogues of volcanogenic massive sulphide deposits found on land, historically the major source of the world's copper, gold, zinc and silver.

The Solwara 1 deposit which is found at a water depth of about 1,600 metres contains a copper grade of approximately 7 percent, a much higher grade than typical land-based mines with copper grades today averaging about 0.6 percent.