Neptune Minerals Plc (NPM.L) – the AIM listed explorer and developer of Seafloor Massive Sulphide (“SMS”) deposits – announces that it has commissioned a conceptual engineering scoping study for technologies that may be used for the commercial development of SMS deposits.  The study will be undertaken jointly by marine engineering specialists, The Technip Group of Companies (“Technip”), and deep-water dredging specialists, Royal Boskalis Westminster nv (“Boskalis”). The scoping study report will be completed in first quarter 2008.

The scope of the current conceptual report is to identify and compare several options with regard to the following operations:

• Sub-sea mining tools and strategy;
• SMS lifting alternatives;
• SMS processing;
• Water and Tailings disposal; and
• Transport and offloading techniques.

The SMS mining options will encompass existing marine equipment and technologies, which will be assessed for validity, operational reliability, capacity and environmental issues.  Results will be evaluated with the aim of making recommendations for pilot testing and for a follow-on mining pre-feasibility study.

The Technip Group (www.technip.com)

The Paris-based Technip Group is a major player in full-service engineering and construction services in the fields of hydrocarbons, petrochemicals and metals & mining. Technip offers a wide range of products and technologies in the sub-sea arena; specifically pipelines, umbilicals and riser systems. The company provides all or part of the services for basic and detail engineering, procurement, construction and project management.

The Boskalis Group (www.boskalis.com)

Dutch-based Royal Boskalis Westminster nv is an international group with a leading position in the world market for dredging services. The company’s core activities are the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection.  Dredging and earthmoving - including mining - accounts for 87% of Boskalis turnover.

Neptune’s Chief Executive Officer, Dr Simon McDonald, said:

“Neptune is pleased to have engaged Technip and Boskalis to implement the fundamental but vital step of appraising technologies to mine SMS deposits.  The current scoping study, which will identify existing and potential mining, lifting and processing systems, is only the first step.  It is Neptune’s intention to evaluate the results of this scoping study when available and follow up any recommendations in a second and more detailed pre-feasibility study.” 

For further information please contact:

Simon McDonald (Neptune MD and CEO):                                   This e-mail address is being protected from spam bots, you need JavaScript enabled to view it  

Olly Cairns (Blue Oar Securities Plc, Nomad and Broker):       T: +61 (0) 8 6430 1631 

Sofia Rehman (Cardew Group, PR):                                             T: +44 (0) 20 7930 0777