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Tuesday, November 22, 2011

Study casts doubt on undersea mining

Study casts doubt on undersea mining:

A new study is casting doubt on the viability of undersea mining, despite recent success by Vancouver-based Nautilus Minerals (TSE:NUS) in obtaining the first-ever permit to mine the seafloor off the coast of Papua New Guinea.

The Canadian-led study, published in the journal Geology, states that “the possibility of mining sea floor [deposits] has stirred debate about the sustainable use of this new resource and whether commercial development is worth the risk.”

The Vancouver Sun quotes Mark Hannington, the University of Ottawa’s Goldcorp Chair in Economic Geology and lead author of the study

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