23 Nov 2006

Nautilus Minerals lodges 47 license permits in PNG

8:26 am on 23 November 2006

The mining company, Nautilus Minerals Incorporated has lodged 47 exploration license applications covering prospective areas of the Bismarck Sea in Papua New Guinea.

These new applications cover an area of 108,295 kilometers squared.

Added to Nautilus previously lodged applications, it will provide the company with rights to 122,309 km squared of prospective acreage in offshore PNG.

Nautilus chief executive David Heydon told The National newspaper, this move is likely one of the biggest ever undertaken by a mining company.