User:Naeim9146/sandbox draft2 nautilus


 * 1 sentence - company location/founding/owners
 * 1 sentence - summarize story
 * 1 sentence - post failure and current state

Solwara-1[edit]

 * 1 sentence Locaton and date and what it is
 * The Solwara-1 project aimed to extract minerals from a seafloor massive sulfide deposit located in the Bismarck Sea within the territorial waters of Papua New Guinea. The proposed mining project aimed to extract economic quantities of Copper, Gold, Silver and Zinc from 1.6 km deep on the seafloor. FROM 43-101 SEDAR - DECENT SOURCE BUT BAD CITATION
 * 1 sentence Political context
 * The Papua New Guinea government, with a 15% stake and a contribution of PGK 327m ($132.9m) towards the project cost, would have held intellectual property rights alongside its partnership in the project. GOOD SOURCE - INTERVIEW WITH MINING MINISTER
 * 3 sentences - GEOLOGICAL PLAUSABILITY


 * A 2011 mineral resource estimate on the project indicated economic quantities of ore with average copper grades of 7.2% with inferred estimates of even higher grade. Copper deposits with grades above 5% are relatively rare and are considered to be high-grade deposits that can be highly profitable to mine on land. Subsurface seafloor mining is as yet unproven.
 * 2 sentences - PROPOSED REALISATION- INCLUDING THE SHIP
 * MINE PLAN - ROBOTS - SHIP - SHIP FAILURE
 * A novel multi-purpose ship had been designed and built but
 * A 2018 economic
 * 2 sentences - PRACTICAL PROGRESS - ROBOTS - INVESTMENT - SHIP
 * 4 sentences - FAILURE/ COLLAPSE
 * The project faced steady opposition from environmental groups and local communities concerned about the potential impact on marine ecosystems and fishing livelihoods.
 * Payment disputes between Nautilus Minerals and the Papua New Guinea government, relating to the latter's equity stake in the Solwara-1 project, resulted in significant contractual challenges that hampered its progress _ the economist
 * By the first quarter of 2019, the project faced major delays as it required $350m to commence mining at Solwara-1. The company drew down half of a $34m credit line early in the year and only had $200,000 of cash as of September 2019. - The economist
 * The project was eventually abandoned by Nautilus when it wen.t bankrupt in 2019. According to creditor protection documents, Nautilus has outstanding debts of approximately $20 million, while its subsidiary Nautilus Minerals Pacific has unpaid debts of about $1.4 million. 
 * Deep Sea Mining Finance Ltd. (DSMF) acquired the Solwara 1 Project and its subsidiaries from nautilus in 2019, and now has full ownership of interests and rights, including key assets, intellectual property, and subsidiaries, and is preparing to progress the project into commercial production. 

Controversy[edit]

 * 4 sentences - Environmental
 * In 2015, A nautilus commissioned environmental and Social Benchmarking report on the Solwara-1 project was released. The report was criticized by a coalition of Canada-based environmental groups, which INCLUDE DR WHO IS CITED IN THE REPORT for conflict of interest CHANGE and a lack of scientific understanding.
 * 4 sentences - Community
 * 3 sentences - M.O.N.E.Y
 * In 2015, the company reported being targeted by a cyber scam resulting in an erroneous payment of $10 million to an unauthorized account. Despite the incident, the company did not disclose any investigation findings to its shareholders and was unable to rule-out internal fraud.
 * SHIP CONTRACT CANCELLED DEFAULT PAYMENT _ GOOD SOURCE?
 * Nautilus Minerals' bankruptcy had significant financial consequences for both its investors and creditors. The company's major creditors attempted to gain control of its assets, but legal disputes over mining leases and concerns about environmental impact complicated the process. Shareholders saw a sharp drop in the value of their investments, and creditors are expected to receive only a portion of what they are owed - this included the Papua New Guinea government which facedK81.5 million ($24 million) in debt. The bankruptcy raised concerns about the viability of deep-sea mining operations and continues to be closely watched by stakeholders.
 * 2 sentences - controversy summary
 * Nautilus Minerals' bankruptcy had significant financial consequences for both its investors and creditors. The company's major creditors attempted to gain control of its assets, but legal disputes over mining leases and concerns about environmental impact complicated the process. Shareholders saw a sharp drop in the value of their investments, and creditors are expected to receive only a portion of what they are owed - this included the Papua New Guinea government which facedK81.5 million ($24 million) in debt. The bankruptcy raised concerns about the viability of deep-sea mining operations and continues to be closely watched by stakeholders.
 * 2 sentences - controversy summary
 * 2 sentences - controversy summary


 * 1) ^
 * 2) ^ "Byron Chan, Minister for Mining, : Interview - Asia 2014 - Oxford Business Group". 2014-09-26. Retrieved 2023-03-25.