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Mining

Chamber says uncertainty over mining leases could threaten economic growth in PNG

THE  PNG Chamber of Mines and Petroleum claims that the continued success of existing projects and the development of new ones is critical to the future of Papua New Guinea. And that any significant delay in the renewal and extension of mining licences for the country’s biggest producing mines would have a detrimental effect on the nation’s economy. Chamber president Gerea Aopi CBE commented following reports that projects such as

Chamber says PNG employment and rebound in growth thanks to mining & petroleum

The PNG Chamber of Mines and Petroleum has welcomed a report by the World Bank that has forecasted that new large-scale resource projects could boost Papua New Guinea’s real Gross Domestic Product (GDP) to five percent this year. The World Bank recently released its February 2019 edition of the PNG Economic Update which outlined PNG’s economic situation and medium-term development prospects. The report stated that the country’s medium-term economic outlook

Nautilus receives additional loan under secured loan facility

SUBSEA mining proponent Nautilus Minerals Inc. has announced that the company has received a loan from Deep Sea Mining Finance Ltd for US$500,000 under a previously announced loan agreement. Pursuant to the Loan Agreement, provides for a secured structured credit facility of up to US$34 million, Nautilus has issued to the Lender an additional 2,147,766 warrants of the company in connection with the US$500,000 loan. To date Nautilus has issued

K92 Mining receives positive news for US$13.6 million Kainantu expansion

CANADIAN miner K92 Mining Inc. has received  positive results of the Preliminary Economic Assessment (PEA) update for a proposed US$13.6 million expansion of the Kanaintu gold mine in PNG. The PEA found that mining production and plant processing capacity could be increased to 400,000 tonnes per annum over a period of approximately 12 months; The expanded plant would treat 4.9 million tonnes averaging 9.0 g/t Au. 20 g/t Ag and

World class Frieda River project moves a big step closer to development

LONG time PNG miner and explorer Highlands Pacific believes the Frieda River copper/gold project has moved an important step closer to development following the completion of a new Feasibility Study. Highlands Pacific reported that is has now received the feasibility study ffrom the project manager PanAust Limited, which contains a major turn around in options for Frieda River, one of the largest undeveloped copper and gold deposits in the world

Gold Mountain getting closer to key target at Wabag project

PNG minerals explorer Gold Mountain Limited believes it is on target to find the main mineralised zone at its new K-Lam copper prospect at Mongae Creek in the PNG Highlands. The company said assay results from its latest drill hole (MCD002) and results of its reconnaissance exploration programme of the newly discovered K-Lam prospect within its flagship Wabag project area have shown an improvement in grade on previous resuls. Assay

PNG mine workers benefit from FIFO lifestyle

A questionnaire by the PNG Chamber of Mines and Petroleum has unearthed a range of benefits that the Fly-in/Fly-Out (FIFO) operating model delivers to PNG workers, their families and the broader community. Distributed to mining projects with PNG employees engaged under FIFO arrangements, the questionnaire revealed inspiring stories and long-term benefits for employees from across PNG. Thousands of workers within Papua New Guinea’s mining industry are employed on a FIFO

Demand tightens for mining and construction equipment

EY’s landmark Yellow Goods Report has this year found tightening demand for mining and construction equipment and labour.   “While we have not returned to mining boom territory, we are seeing a tightening for key goods such as tyres, which was a real pain-point during the last boom,” said Scott Grimley, EY Oceania Mining & Metals Leader.   Yellow Goods – a term for construction, earth-moving and quarrying equipment, including

K92 Announces Increased Resource for Kora North

K92 Mining Inc. has announced that an updated resource estimate has been completed at its Kora North deposit, based on results from underground grade control, exploration diamond drilling and face sampling. The updated resource estimate comprises a Measured Resource of 154,000 tonnes @ 18.7 g/t Au, 8.9 g/t Ag and 0.5% Cu; an Indicated Resource of 690,000 tonnes @ 11.6 g/t Au, 14.1 g/t Ag and 0.8% Cu and an

Woodlark DFS confirms high margin development project

WOODLARK Island miner Geopacific Resources Limited has announced that new study results have confirmed the viability of a development of the historic this Woodlark Gold Project. The company said a newly completed Definitive Feasibility Study (DFS), builds on the March 2018 Pre-Feasibility Study (PFS) and the November 2018 Woodlark Ore Reserve Update, in delivering strong economic and technical outcomes for a viable project. The Woodlark DFS completed by Lycopodium Pty