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By A. Blake Caldwell

The continental margins and ocean basins represent by far the largest unexplored frontier for discovery and development of mineral values. In April 1971, Deepsea Ventures, Inc., at a press conference in its Gloucester Point, Va. headquarters, announced what may become the first commercial deepsea venture--15,000 ft below the ocean surface. During the presentation, Deepsea's president, John E. Flipse, announced that studies made by company personnel had proven the feasibility of mining, transporting, and milling L million tpy of manganese nodules taken from the ocean floor, and that, based on current conditions and prevailing construction costs, a venture of this magnitude would cost about $200 million split evenly between mining and processing facilities. A subsidiary of Tenneco, Deepsea has tentatively reserved 1976 as the year in which it plans to mine, process and market the nodules.

Jan 1, 1971

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Map

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New Products Equipment

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PROGRESS IN DRILLING tungsten-carbide bits, lighter pneumatic drills, bonus plans, and alloy steels are discussed at northwestern gathering.

Jan 3, 1951

STANDING COMMITTEES Executive-A. R. LEDOUX, chairman. Membership-GEORGE C. STONE, chairman. Finance-J. V. N. DORR, chairman. Library-E. GYBBON SPILSBURY, chairman. Papers and Publications--BRADLEY STOUGHTON, chairman. Nominations-POPE YEATMAN, chairman.

Jan 9, 1919