Nautilus’ copper-gold project, Solwara 1, is under development in the territorial waters of Papua New Guinea.
Here is an update based on a presentation on August 2015
Assuming all goes well, robotic diggers will spend 30 months scouring the ocean floor of the Solwara 1 site, bringing up 2.5 million metric tons of ore containing metals worth more than US $1.5 billion at today’s prices. Next, the robots will likely set to work on one of Nautilus’s 18 other prospects in the Bismarck Sea or one of its 19 discoveries off the shores of the Polynesian archipelago of Tonga.
Ocean mining machines should start testing in 2016. Full ocean mining and production should begin in 2018.