before_revision: Economic importance Economic extraction of SMS deposits is in the theoretical stage, the greatest complication being the extreme water depths at which these deposits are forming. However, apparent vast areas of the peripheral areas of these black smoker zones contain a sulfide ooze which could, theoretically, be vacuumed up off the seafloor. Nautilus Minerals Inc. (Nautilus) is engaged in commercially exploring the ocean floor for copper, gold, silver and zinc seafloor massive sulphide (SMS) deposits, and mineral extraction from an SMS system. 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. 
after_revision: Economic importance Economic extraction of SMS deposits is in the theoretical stage, the greatest complication being the extreme water depths at which these deposits are forming. However, apparent vast areas of the peripheral areas of these black smoker zones contain a sulfide ooze which could, theoretically, be vacuumed up off the seafloor. Nautilus Minerals Inc. (Nautilus) was engaged in commercially exploring the ocean floor for copper, gold, silver and zinc seafloor massive sulphide (SMS) deposits, and mineral extraction from an SMS system. Nautilus' Solwara 1 Project located at 1,600 metres water depth in the Bismarck Sea, Papua New Guinea, was an attempt at the world's first deep-sea mining project, with first production originally expected in 2017. However, the company went bankrupt in 2019 after failing to secure funding for the project.
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