By Bernadette H. Carreon
Horizon news staff

A London- based company is considering exploring polymettalic sulphide deposits in Palau.
Neptune Minerals in their presentation before the Compact Review Commission last month said although none of these deposits have been found on the seabed in the
waters of Palau, it is worth looking for the deposits in Palau.
In the company’s presentation, the company is looking for Seafloor Massive Sulphide (SMS) deposits are present day mineral accumulations that contain high grade assemblages of base & precious metals such as copper, zinc, lead, gold & silver.
The company said that 300,000 cubic meters of material and that metal values per tonne can cost as high as $1,200 anf the estimates of costs to recover and sell it are in the order of $200 to $300 tonne.
The company said that over 300 SMS sites have been identified around the world
with samples recovered by numerous international research organizations.
“We are very conscious of the need to create a sustainable business for all
stakeholders, particularly we focus on managing environmental impacts of our work
through engaging independent marine biological experts such as NIWA – the
National Institute of Water and Atmospheric Research in New Zealand,” the company said.
It added that New Zealand is the focus area of the exploration and that they have been awarded Prospecting licenses covering over 63,000 sq. km of New Zealand’s seabed.
The company cited that it also made prospecting license applications in Papua New Guinea, Japan, Vanuatu, Italy and the Northern Marianas.