Following confirmation last week that private US equity fund Subsea Investments has taken a 19.99% stake, for up to $7 million in shares and a loan, marine mineral exploration vessel Dorado Discovery left last Thursday for the Chatham Rise, 450km west of Wellington.
"Our focus is gathering information to prepare an environmental impact report as part of our plan to apply for a mining licence this year," Chatham managing director Chris Castle said in a statement yesterday.
The voyage was being financed by the new equity raised from Subsea Investments, he said.
Mr Castle said the scientists aboard would gather data on the oceans environment in the planned extraction area, which included seabed photography of benthic (sea or lake bed organisms) biota, more information on sediment chemistry and physical characteristics and sample collection for evaluation of benthic organisms.
The testing work is approved by Government permit agency New Zealand Petroleum and Minerals and scientists aboard include some from Crown research agencies Niwa and GNS and other technical staff contracted to Chatham Rise, including Royal Boskalis Westminster, Golder Associates and Kenex.
