A temporary reprieve has been bought for the deep sea environment as Nautilus has announced that it is delaying investments in Papua New Guinea. Due to the declining economic investment climate, the Canadian mining company has cancelled orders for a rising and lifting system, a seafloor mining tool, and a mining support vessel.
While this news is good for the marine environment, it is important to look at the long term picture and realize that as the economy recovers, investors will again begin looking at funding this speculative, extractive industry.
