Nautilus Minerals has faced some tough times over the past 12 months, its difficulties mainly related to a commercial dispute between the company and the government of Papua New Guinea (PNG) that arose in June 2012.
The Cook Islands hopes to transform itself into one of the world's richest countries within a decade by sending robots to the sea floor to collect minerals that it believes are worth tens of billions of dollars.
It may be understandable that a terrestrial primate such as ourselves would pay little attention to a world so foreign, inaccessible, and inhospitable as the deep sea, but with growing threats to the region, it's time we do so.
The increasing price of precious metals has prompted mineral prospectors to consider unusual places, including a renewed interest in deep seabed mining and the emergence of an asteroid mining industry.
After decades of dreaming and scheming, companies say they’re finally ready to start mining the bottom of the world’s oceans for valuable minerals. Christopher Werth reports from London on one company’s plans, how environmental scientists view the prospect of digging up the sea floor, and how Howard Hughes and the CIA helped pave the way.
The prospect of a deep sea "gold rush" opening a controversial new frontier for mining on the ocean floor has moved a step closer. The United Nations has published its first plan for managing the extraction of so-called "nodules" - small mineral-rich rocks - from the seabed.
Minerals, such as rare earth metals, are increasingly becoming an important commodity in a resource-constrained world economy. As a result new frontiers both onshore and offshore, to the depths of the ocean, are emerging around the world.
Top Pentagon contractor Lockheed Martin is adapting many of the technologies it developed for the government to commercial ventures at sea, including the external fuel-tank technology used on the Space Shuttle.
Mining's next frontier is proving tricky to navigate. Last week a British company became the latest firm to announce its intention to mine the seabed. However, it is still unclear how deep-sea mining will affect the oceans.