Territorial Waters of Papua New Guinea
Deep-Sea Mining Development
High-Grade SMS Deposits
Solwara 1 Project aims to become the 1st Deep Sea Mine to commercially mine Seafloor Massive Sulphide (SMS) deposits. With over 400 SMS systems worldwide as prospective targets, the Solwara 1 Project would have first mover’s advantage to access a significant deep-sea mining pipeline of projects.
Mawarid Offshore Mining Limited holds 50% equity interest in Deep Sea Mining Finance Ltd. DSMF aims to become the first company in the world to mine SMS deposits.
Explore the exact coordinates of the Solwara 1 Project in the Bismarck Sea, Papua New Guinea. See how this pioneering deep-sea mining initiative is unlocking valuable Seafloor Massive Sulphide (SMS) deposits beneath the ocean’s surface.
10 years, including development and operations
Mining License ML154 Located 30km offshore in the Bismarck Sea and 3 granted Exploration Licenses; EL1196, EL1374 and EL2537
EL1196 (125.07 km²), EL1374 (256 km²) and EL2537 (320 km²)
SM2 Limited
Seafloor Massive Sulphides (SMS)
ROV seafloor mapping and sampling. Geophysics, EM, SP, bathymetry, sidescan, AUV
Inferred and Indicated Resources – 2.57mt @10% Cu Eq. (NI 43-101)
Seafloor Diamond Core drilling rigs, 4 total programs to date 3,277m of drilling
Completed phase 2 trial mining / bulk sampling and environment monitoring program in May – July 2024. Feasibility study is currently in progress. Commercial production is currently scheduled to commence Q1 2027.
Environmental Permit for commercial operations was granted in 2009 for 25 years (expires 2035)
Click to learn more about the Solwara 1 Project