 Nautilus' Solwara 1 Project located at 1600 metres water depth in the Bismarck Sea, Papua New Guinea, will be the world's first deep-sea mining project, with first production  expected in 2017. 
<meaning-changed>  Nautilus' Solwara 1 Project located at 1600 metres water depth in the Bismarck Sea, Papua New Guinea, will be the world's first deep-sea mining project, with first production  expected in 2017. 
 Nautilus' Solwara 1 Project located at 1600 metres water depth in the Bismarck Sea, Papua New Guinea, will be the world's first deep-sea mining project, with first production expected in 2017. However, the company went bankrupt in 2019 after failing to secure funding for the project.