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Seeking returns in uncharted waters

This time last year one of the most talked-about deep-sea mining projects seemed to be on the rocks as Nautilus Minerals was at loggerheads with the government of Papua New Guinea and its Solwara 1 gold, copper and silver project seemed but a lofty pipe dream.

By May the pair had resolved their differences and Nautilus confirmed the PNG government had placed US$113 million into escrow, satisfying the conditions needed for the state to take a 15% stake in