LEADERSHIP

One in, one out at Nautilus Minerals

Board and management changes at struggling deepsea explorer

Staff reporter

This article is 7 years old. Images might not display.

Tariq Al Barwani has been named non-executive chairman, replacing Russell Debney, who stood down on December 27.
 
 
Al Barwani, a geologist by training, is a director and shareholder of MB Holding, and CEO of Mawarid Mining, a wholly owned subsidiary of MB Holding (Nautilus' largest shareholder). He joined Nautilus' board in May 2016.
 
Shortly after this announcement, Nautilus said Adam Wright, the company's vice president of PNG operations had resigned, effective February 26. He had been with the company for the past three-and-a-half years. 
 
When Al Barwani was appointed, Nautilus said it had embarked "upon a process of board renewal", looking to bring in new independent directors and "to expand the board's skillsets to support the financing and delivery of the world's first deep sea mine".
 
Earlier this month, the company said it was looking to tie up a bridge loan through a company associated with its two main shareholders, MB Holding and Metalloinvest Holding.
 
This came after Nautilus signalled to the market that it urgently needed finance to keep its Solwara 1 project in Papua New Guinea on course.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.