A Brief Pardon for the PNG Deep

Rick at MBSL&S and the Southern Fried Scientist (mmm…chicken fried steak) beat me to the punch on this but that does take away from the moment.  Nautilus (you can see this post on the company and their operations) according to press release

announces it has decided to adopt a more cautious
strategy and to preserve its strong cash position by delaying the
construction of the equipment for the Solwara 1 mining system. This
decision is driven both by the challenges and opportunities presented
by the unprecedented speed and severity of the global economic downturn
and the uncertainty in the financial and commodity markets. The Company
will continue to move forward with permitting for its Solwara 1
Project, as well as with various engineering and testing activities. In
addition, the Company will continue with its focused exploration
program to increase its resource base…As a result of this decision, the Company will today reduce its workforce by approximately 30%…As a consequence, the Board believes that the previously announced
timetable for first ore production at the Solwara 1 Project is likely
to be delayed beyond December 2010.

Of course Rick correctly asks “Is that code for nervous investors jumping ship on an untested,
unproven, and potentially environmentally disastrous mining process?”

As you reflect on this take a moment to also reflect on what may be at stake here.

Dr. M (1655 Posts)

Craig McClain is the Assistant Director of Science for the National Evolutionary Synthesis Center, created to facilitate research to address fundamental questions in evolutionary science. He has conducted deep-sea research for 11 years and published over 40 papers in the area. He has participated in dozens of expeditions taking him to the Antarctic and the most remote regions of the Pacific and Atlantic. Craig’s research focuses mainly on marine systems and particularly the biology of body size, biodiversity, and energy flow. He focuses often on deep-sea systems as a natural test of the consequences of energy limitation on biological systems. He is the author and chief editor of Deep-Sea News, a popular deep-sea themed blog, rated the number one ocean blog on the web and winner of numerous awards. Craig’s popular writing has been featured in Cosmos, Science Illustrated, American Scientist, Wired, Mental Floss, and the Open Lab: The Best Science Writing on the Web.