Nautilus Minerals Inc. announces that a number of meetings have taken place with the Independent State of Papua New Guinea (the State) over the last two weeks aimed at resolving the parties’ dispute relating to the Company’s Solwara 1 project and discussions will continue until a conclusion is reached.
On June 1, 2012 the Company initiated the dispute resolution process under an agreement between Nautilus and the State signed in March 2011. Since then, senior representatives of Nautilus have met with senior representatives of the State in order to resolve the dispute.
A further update will be provided as the matter progresses.
Subsea World News Staff , June 19, 2012; Image: Nautilus Minerals