building—they’re attempting to make a bold design while still following the structural building codes.
By following established codes, there can be confidence in the safety of the design.”
Because if the rides aren’t safe, visitors won’t line up—and project sponsors won’t get their piece of
the revenue pie. —Emma Haak
UNDER THE SEA
As valuable mineral deposits become scarce on land, mining companies are looking to a vast new
frontier for valuable projects: the planet’s oceans.
The estimated value of underwater deposits for
just one mineral—gold—exceeds US$150 trillion.
Some of those deposits are off the coast of Papua
New Guinea. After years of negotiations, Nautilus
Minerals reached an agreement in April with the
country’s government to launch the first-ever
deep-sea mining project. The Canadian mining
company plans to extract gold and other valuable
metals at a depth of 1,500 meters ( 4,921 feet) just
north of Papua New Guinea within five years.
But without careful management of stakeholders during the permitting process, project plans
for pulling minerals from below the ocean may
have to stay on land. Complicating schedules and
budgets further, these projects require expensive
environmental-impact and feasibility studies.
As CEO of Chatham Rock Phosphate Ltd.,
Chris Castle has learned this firsthand. Mr. Castle
founded the Wellington, New Zealand-based
company in 2007 to extract phosphate from a
reserve estimated at 23. 4 million metric tons and
valued at approximately NZ$4.2 billion, about 450
kilometers (280 miles) east of Christchurch, New
Zealand, near the Chatham Islands. In December
2013, Chatham Rock received a 20-year mining
permit from New Zealand’s Ministry of Business,
Innovation and Employment for 820 square kilometers (317 square miles)—but Mr. Castle doesn’t
expect mining to begin until mid-2017. That’s
because the project must achieve a critical milestone in 2014: receipt of marine consent from New
Zealand’s Environmental Protection Authority (EPA). It’s the only remaining license the company
needs to begin mining. The EPA accepted Chatham Rock’s application in May, but before a license
can be granted, a six-month review process allows the public to comment on the project.
As part of the project, the company plans to invest NZ$12 million during 2015 and 2016 on further
exploration and mine optimization, Mr. Castle says.
Persuading the Public
To ensure that investment pays off, Mr. Castle made sure the company’s 400-page EPA application
included the scientific research it commissioned to address the questions of community members.
“We’ve consulted extensively with concerned stakeholders for nearly four years and have taken
their concerns into account,” says Mr. Castle.
A PMO FOR
After years of financial
scandals, the world’s
smallest sovereign state
is looking for solutions
through better project
management. The Vatican
is creating a new project
management office (PMO)
to establish policies and
practices and oversee
planning and project
delivery in its Secretariat
for the Economy. The
Secretariat, created by the
pope in February, manages
all economic and administrative activities within the
city-state, including budgeting, financial planning
and human resources.
Pope Francis has said he
wants the Vatican’s finances
to be administered with
“honesty and transparency.”
The move to create a PMO
follows allegations that the
number two official in the
Vatican under Pope Benedict
XVI, Italian Cardinal Tarcisio
Bertone, transferred € 15
million to a TV production
company run by a friend.
Australian project manager
Danny Casey was tapped
to run the new PMO at the
Vatican, where he’ll join
his former boss, Australian
Cardinal George Pell, who
heads the Secretariat.
PMO team may face a
“cultural rift” and possible
strife with the Vatican old
guard, who “see the talk
about transparency as an
indictment of what went
before,” The Boston Globe