Santos President Upstream Oil and Gas, Brett Darley, has said the Angore Development Project would be a significant plus for Papua New Guinea. Mr Darley made his comments at the Australia Business Forum in Brisbane as he announced the next tranche of backfill gas that will help maintain PNG LNG production. The first gas from the development is due in 2024. Santos’ capital expenditure share would be about US$135 million
The Mineral Resources Authority (MRA) has launched the OSIsoft PI system that allows access to data collected in real-time by mining sector companies. Operators in the mineral sector can now report the volumes of resources they extract and export. These amounts can then be monitored by the MRA. The managing director of the MRA, Jerry Garry, said, “Under the Mining (Amendment) Act (2020), it requires mining companies to provide information
With the successful signing of the stakeholder agreements, the Porgera Mine has been given the go-ahead to reopen. Mark Bristow, the president and chief executive officer of Barrick Niugini Ltd (BNL), said that the cost of reopening and restarting the mine is around US$300 million (K1.05 billion). Dairi Vele, the chairman of the State negotiation team, said that this would require around 3100 people, most of the Papua New Guineans,
Karenga Kua, PNG’s Petroleum Minister, attended a virtual meeting with China’s Sinopec in Beijing recently. Minister Kua and Wapu Sonk, the Managing Director of Kumul Petroleum, met with the Senior Vice President of Sinopec to discuss various aspects of Papua New Guinea’s petroleum business. Among the topics discussed were Sinopec’s interest in additional long-term LNG contracts for the PNG LNG project. The Chinese petroleum giant was the first LNG customer
K92 Mining Inc. is pleased to announce results from the updated resource estimate completed on the Kora deposit and the maiden resource for the Judd deposit, at its producing Kainantu Gold Mine in Papua New Guinea. The resource estimate is based on surface and underground exploration diamond drilling and underground face sampling. The focus of exploration at Kora since the previous resource estimate from April 2020 was on upgrading Inferred Resources
K92 Mining Inc. has reported a 180% increase in its updated resource estimate on the Kora deposit, at its producing Kainantu Gold Mine in Papua New Guinea. The resource estimate is based on surface and underground exploration diamond drilling and underground face sampling (grade control). The Kora eeposit Mineral Resource Estimate highlights include: Measured and Indicated Resource of 1.1 million ounces at 10.45 g/t gold equivalent (“AuEq”) representing a +180%
Kingston Resources Limited has reported further significant assay results from Resource definition diamond drilling at the Ewatinona deposit, part of the 2.8Moz Misima Gold Project in Papua New Guinea. Latest results include: 2m @ 4.67g/t Au from 95m; 6m @ 1.2g/t Au from 175m; 14m @ 0.92g/t Au from 150m; including 8m @ 1.23g/t Au from 155m; 12m @ 1.33g/t Au from 22m; including 4m @ 3.33g/t Au from 22m;
Kingston Resources Limited’s (ASX: KSN) latest diamond drill core assays results from Resource definition drilling at the Ewatinona deposit, part of the 2.8Moz Misima Gold Project in PNG, have returned significant zones of mineralisation. Results include: 0m @ 2.16g/t Au, including 7m @ 3.83g/t Au; 5m @ 1.26g/t Au, including 10.5m @ 1.43g/t Au from 146m; 0m @ 1.35g/t Au from 42m; 0m @ 1.19g/t Au, including 2m @ 1.70g/t
CANADIAN oil and gas drilling rig provider High Arctic reports that it has received formal notification from its main customer in Papua New Guinea that it is suspending all drilling operations in the country until further notice. High Arctic said the customer’s decision to suspend and defer operations is in reaction to the current low oil and gas prices and the COVID-19 pandemic. The company is now working with the
K92 Mining Inc. has hit a number of high-grade intersections from the continuing diamond drilling of the Kora North Extension of the Kainantu gold mine in Papua New Guinea. The results for the latest 10 diamond drill holes completed from both surface and underground into the Kora North deposit include multiple high-grade intersections, and in particular KMDD0147 & KMDD0147A, which are among the company’s most southern holes at Kora North