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8/6/2019 NORI Presentation SOPAC DSM June 2011
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Nauru Ocean Resources Inc.
World’s most experienced ultra
eep sea m n ng eam
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NORI is committed to operating in line with the
following internationally accepted Environmental,
Social and Governance principles and standards:
• United Nations Global Compact
• Millennium Development Goals
•
Environmental Sustainability
, ,
Safety Guidelines
• Precautionary
Principle
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Developing
Resources
for a Developing State
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Environmental
80% Uninhabitable
Rehabilitation> $200M
No land for
a ricultureLimited
Reliant on
Foreign Aid Depleted by
us, r s
Phosphate mining
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With limited terrestrial resources, Nauru must look
development. NORI is
with long term opportunities
.
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• No commerciall prospective mineral resources in EEZ
• ’
application in 2008.
distributed in Nauru to promote education, ra n ng, ea an env ronmen a
rehabilitation.
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ar ne c ence
DSM Regulatory Framework
Administration
NORI DSM Project
Pre‐Employment Traineeships
Staff RecruitmentCareer Planning, Professional
Development
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Pre‐Employment Traineeships
Training for Nauruan National job applicants not
a rea y possessing t e requisite s i s or t e Project.
Build capacity of Nauruan Nationals to participate in
.
Recruitment
Increase representation;
Build
the
skills
base;xpan career opt ons;
Increase economic participation,
’ .
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Career Planning, Professional Development and
Development of Sustainable EmploymentDeve opment o career pat s or a rea y experience
Nauruan National employees to move beyond operator
Provide sustainable employment and skills
development to ensure opportunities exist to further
advance their career.
E.g.
study
assistance
and
scholarships,
development
of
tec n ca capa t es, u ng o commerc a s s,
leadership development, technical training and
.
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’
Nauru = 1st State to sponsor ISA Reserved Area application;
precedent
for
all
PICs,
particularly
those
with
few
mineral
.
PICs leading the way in BOTH Nodule & SMS development.
’ , . .
Kiribati, as NORI will have developed the equipment, methods
and rocesses to demonstrate DSM feasibilit and decrease
cost of capital.
NORI’s EIA will provide valuable data for PICs to make
environmental decisions within their own EEZ’s.
Nauru’s request for ITLOS AO has given potential PIC
sponsoring States more certainty.
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States lacking mineral Resources are exposed to fluctuating metal
markets. Future supply is not guaranteed.
ome esource r c a es a rea y res r c ng supp y o s ra eg c
metals. E.g. China slashed H2 2010 REE exports quotas by 72%, raised taxes, restricted
production capacity and now further strengthening pricing power with Baotou REE
Exchange.
Mn market: few producing nations ‐ Potential for OPEC like cartel
Q: How can States lacking in mineral Resources ensure access to
an uninterrupted future supply of metals at reasonable prices to
A: By looking to the seafloor. Many States have recognised the
.
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Nauru has entered the international race to the bottom of
the ocean. Which PICs want to be next?
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Opportunity for PICs to be an international hub
Norway has been for offshore Oil & Gas
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• Through offshore resource extraction Norway has
become the 2nd richest country in the world.• Produced $1,500,000,000,000 from its continental
• Whilst Norway’s offshore petroleum production has
,
have ensured its long term economic future –
’ , , ,
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Norway’s GDP Growth Driven by Offshore
Resource Exploitation
Exploitation began on Norwegian
continental shelf in 1971 – causing
rapid growth in GDP per capita to
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PICs have an opportunity to play an important role in
providing much‐needed supply of metals to the world.
metals such as copper (3rd most used metal in the
world man anese 4th and nickel rovide and the role
they play in advancing human livelihood. Because these
services are not adequately quantified, they are often
given too little weight in policy decisions.
terrestrial mining industry, international metal markets,
and the role metals la in societ .
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In all four
the worldevery uman e ng eserves goo ea an
shelter, em lo ment o ortunities, ualit
education, and freedom
poverty,
hunger and
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How can the world achieve the economic
progress
requ re
o
ensure
ese
universal objectives are met?
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A: B Unlockin the Value of New Sustainable Resources
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Economic Growth Demands Metals
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Water is essential to sustainable development.
<1% of world's fresh water is accessible for direct human uses.
Critical we do not waste what little water is available.
Copper and Stainless Steel are needed to distribute and store water
without
waste,
corrosion,
leaks
or
bacterial
contamination.
Potassium permanganate – 2nd only to chlorine
884M people still rely on drinking water from unimproved sources
such as ponds, streams, irrigation canals and unprotected dug
we s.
Almost one‐tenth of the global disease burden could be prevented
.
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Stainless Steel
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(requiring Ni and
Raw water handling, India
Mn) is relied upon
throughout the
world to
distribute clean
,
water.
Office Building Plumbing, China
Water distribution Pi in USA
Water Distribution Pipe, Canada
Stainless Steel Tap Italy
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Stainless Steel Tap, Italy
Water Tank, ChinaWater Storage Tank, Japan
Reverse Osmosis Plant, Singapore
De Salination Plant, Saudi Arabia
A G E i t ibl
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A Green Economy is not possible
without metals at affordable prices
1 Wi d T bi 500 k 12 C
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1 Wind Turbine: 500 kg 12x more Cu to create
of Ni + 1000 kg of Cu 1kw than conventional ower eneration
l h l h h
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An electric vehicle has over TWICE the Cu content
of the average car ‐ 2km of copper wiring
Ni and Cu
batteries in
.
Mn is needed for high strength
stee s eet to rep ace eav er m
carbon thus making vehicles lighter
reducing
vehicle
emissions.
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Whilst metals are critical to development we are
running out of mineral Resources on land at a
time when demand is increasing. If demand
increases without a commensurate increase in
supply the price of minerals will become
unaffordable
to
the
world’s
poor.
DSM offers a new supply which will be critical in
meeting
increasing
demand,
and
PICs
have
a
unique opportunity to lead this new industry.
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World co er consum tion 1900 – 2008 K TONNES
World production –1900: 495 kt; 2008: over 15 Mt
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Mining lower grade material is environmentally
damaging as it requires moving more rock per tonne of metal recovered with attendant greater
surface area disturbance, higher fuel emissions
per
tonne
and
larger
waste
rock
dumps.
Mining Industry is being forced to produce from far
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Mining Industry is being forced to produce from far
more angerous, remote, an pr st ne env ronments
on land
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Unique opportunity here for PICs to lead the way in protecting the
planets overall environment by taking pressure off the land, which,
w s on y accoun ng or o e p ane s sur ace area, as een
subject to 100% of Ni and Cu mining.
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DSM = No Deforestation
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‐
• Diversity on a 40m rainforest tree can exceed 1 million living species;
• Rainforests among the most biodiverse places on Earth ‐ exceptional
biological richness on both landscape and local scales, across
axonom c groups. amma s, amp ans, rep es, r s, s ,
insects, vascular plant species etc.
• .
• Rainforests provide essential services such as clean air, water, rainfall and stable climate, and are a source of food and medicine.
• Increasing pressures on rainforests from hydrocarbon and terrestrial
mining projects, illegal logging, oil palm plantations, transportation
, , u u w .
• Forests are home to 80% of our terrestrial biodiversity.
. .
Nickel laterites occur in equatorial tropical rainforest regions
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q p g
Unlike nickel laterites, access to and mining of underwater mineral
,
decrease
in
the
Earth’s
carbon
absorption
capacity
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By avoiding deforestation DSM helps keep our planet green
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DSM =
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Minimal Overburden
and
Stripping
Underwater mineral deposits
enerall
occur
directl
on
the
seafloor and do not demand large
pre‐strips or overburden removal
of waste for every tonne of ore.
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average mine strip ratio of 4.2:1 over a mine life of 37 years.
Construction of Escondida included stripping 180 MT of
was e us o ge o ore o y
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was e us o ge o ore o y
Irreplaceable Andes Environment
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‐
moved
in
pre‐
stripping
during
2001
alone!
Terrestrial mines 0.55% Cu
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Wh di u 180 tonnes of the
Earth just to get 1 tonne of
Co er?
Is this the wisest
use
of
the
planet’s
environment?
DSM = Minimal Waste Rock &
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Minimal Tailings
• Modern terrestrial open‐pit mining has very high
waste‐to‐product ratio.
• E.g. Porphyry copper deposits (the largest source of
copper ore) are averaging 0.55% Cu which means
99.45% is produced as tailings.
• Even more waste for old where recover rates can
be as little as 5‐10 grams of gold per tonne of rock
and
ore
mined.• Disposal of this waste (large volumes and toxic)
threat
posed
by
mining.
Tailings
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DSM = Less Ore, Less Waste & Less Tailings
S fl b
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Seafloor
Polymetallic
Lumwana
Copper
Ambatovy
Nickel
Eramet
Manganese
No u es M ne M ne M ne
Grade 43% MnO2,
1.3% Ni
0.74% Cu 1.04% Ni 43.10 % Mn
1.1% Cu
Overburden N/A Yes Yes Yes
Strip Ratio N/A 4.2:1 1.33:1 1:1
Ore Mined (Mtpa) 4.6 6.76 5.77 3.01 54 . . .
Tailings /Ore ratio 54% 99% 99% 57%
Tailings (Mtpa) 2.48 6.69 5.7 1.71 14
Ni Product (ktpa) 60 60
Mn Product (ktpa) 1,100 1,100
To obtain
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equiv. metal from
Land Minin
1,092 Mt mined
+ 271 Mt tailin s
Nodule Mine
49.7 Mt tailings
’
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Copper 5% 1%
rade
Ore per 4 mill tonnes 20 mill tonnes
annum
per annum
waste:ore)
Total tonnes 4mtpa 80mtpa
Terrestrial Copper Porphyry = 20x more tonnage
Irreplaceable Andes Environment – tens of millions of years to form.
After copper is mined the environment will NEVER return to previous
condition Yet 45% of world Cu comes from this fragile Andes
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condition. Yet 45% of world Cu comes from this fragile Andes
environment!
The Peruvian Andes is famous
or ts un que an pr st ne
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or ts un que an pr st ne
cloud forests
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Rio Blanco porphyry copper deposit – pristine region of the Andes
mountains on the border of Peru and Ecuador. This is merely an
exploration camp, the mountain won’t exist after mining!
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Levelling a 500Mt mountain just to get 3.15Mt of
u
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Is this the wisest way to source our copper when
hundreds of millions of tonnes of Cu sits on the
seafloor
and
does
not
re uire
pre
strippin
or
deforestation?
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Mountain levelled and replaced with huge waste pile and tailings
.
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previous condition.
Peruvian Andes
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Los Bronces open pit copper mine in Chilean Andes
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Unique mountains
continue to be levelled
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on land 24/7. This
summ t van s e n a
day. Is this sustainable?
DSM = Minimal Production Infrastructure
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Ambatovy Nickel, Madagascar ‐
220km ore pipeline from mine to
processing plant through rainforestDSM = no rail/road/pipelines
DSM process plants can be constructed and operated in efficient
i
‘
it ’
ft
i
i
i t l
d t ti
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mines ‘on site’ – often causing massive environmental devastation.
=
One of the greatest sources of pollution caused by global mining
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One of the greatest sources of pollution caused by global mining
atmosphere.
“
ecological security threats in the world” (US EPA).
In contrast acids cannot be roduced in the ocean because
seawater is alkaline.
AMD at a sulphide‐rich nickel and copper ore deposit
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Terrestrial mining often requires
miners to work in hazardous
and unsafe conditions with
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and unsafe conditions with
significant chemical exposure
DSM: The New & SAFE ‘Mine Face’
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• Increased GDP
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• Increased GDP
• Employment
•
• Capacity Building
• ec no ogy rans er
• Foreign Investment
• Tax Revenue/Royalties – Health & education services etc.
…without the negative impacts generally associated with the extractive industry such as community dislocation and degradation of the national environment.
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Cook Islands/
Kiribati
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encourage
DSM
investment
and
achieve
these
positive
,
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How much does it cost to build and
opera e a eep ea ne
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Commercial terms of Regulatory Regimes must
reco nise:
• Unique challenges of starting a new industry –
“ ” ‐
technological risks are VERY HIGH
• DSM is not bankable
•
• Exploration costs are higher than on land
• Industry must develop new technologies
Prelude floatin LNG latform
488m long
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488m long on
Semi‐Submersibles$600M buy or $450k per day hire
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800
400
600
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200
‐200
0
1 2 3 4 5 6 7 8 9 10 11 12 13
‐400
‐800
‐600
Very High
‐1000 Up‐Front
‐
‐1400
‐1200
CAPEX
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Dredging industry moves 2 billion tonnes per annum off seafloor