MAC reports progress with Nautilus mining vessel

SEPTEMBER 13, 2016 — Dubai headquartered Marine Assets Corporation (MAC) reports that the main hull section of the seabed mining that it is building at China’s Fujian Mawei Shipbuilding Culu Island NewShipyard is nearing completion.

A major milestone was reached with the installation of the bow block, which is made up of three separate blocks, weighing480 tons in total.

MAC is to charter the vessel to Nautilus Minerals Inc. (TSX:NUS, OTCQX: NUSMF) for use at the Solwara 1 Project off Papua New Guinea (see earlier story).

On completion in first quarter 2018, the 227 m long, 40 m wide vessel she will commence a five year time charter with Nautilus as the world’s first Deep Sea Mining Support Vessel.

Computer rendering of completed mining vessel, designed by Singapore’s SeaTech Solutions, in production mode