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Mining

Barrick initiates World Bank conciliation proceedings with PNG Government over Porgera

PORGERA Gold Mine operator Barrick (Niugini) Limited (BNL has initiated conciliation proceedings before the World Bank’s International Centre for Settlement of Investment Disputes (ICSID) to settle its dispute with PNG arising out of the PNG Government’s decision not to extend the Porgera Special Mining Lease (SML). BNL says it exercised its legal right to apply for an extension of the Porgera Special Mining Lease in June 2017. The company alleges

Ok Tedi declares 2019 Full Year Profit After Tax of K754 million

FOLLOWING the Ok Tedi Mining Limited Annual General Meeting held on 22 May 2020, Chairman Sir Moi Avei KBE announced that the Company had recorded a 2019 Profit After Tax of K754 million (US$222 million). This was an increase of K289 million or 61% compared to the previous year. “The Company distributed PGK 400 million in dividends during 2019 while investing a further PGK 408 million in the strategically important

K92 reports significant high-grade resource increase at Kora

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%

Ewatinona delivers further positive drilling results for Kingston

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;

Barrick says non-extension of Porgera SML a catastrophe for Landowners

PORGERA gold miner Barrick Niugini Limited (BNL), claims the PNG Government’s decision not to extend its Special Mining Lease was tantamount to nationalisation without due process and in violation of the government’s legal obligations to BNL. The company said it remained willing to discuss the issue with Prime Minister James Marape and his government in the hope of averting what it described as a catastrophic situation for the communities at

Ok Tedi Mine vows to continue operating

OPERATIONS  at the Ok Tedi mine will continue as long as it’s safe and economical to do so, says Ok Ted Mining Limited Managing Director and Chief Executive Officer Peter Graham. Mr Graham made these remarks after Papua New Guinea announced yesterday (Thursday 16th April) that it had five new COVID-19 cases, of which three were from border villages adjacent to the mine’s Bige dredging project in the Western Province.

OTML sets-up COVID-19 screening station

A NEW COVID-19 screening station has been built along the Tabubil-Kiunga Highway by Ok Tedi Mining Limited (OTML) to monitor and prevent the spread of COVID-19 to its workforce and communities. The station was opened on Friday 10th April by Western Province Deputy Provincial Administrator and Chairman of the province’s COVID-19 Taskforce Mr Michael Viru. Other dignitaries who witnessed the small ceremony were the Provincial Police Commander Chief Inspector Silva

Kingston identifies extensive high-grade gold east of old Ewatinona pit

KINGSTON Resources Limited (ASX: KSN) has reported significant new high-grade assay results from recent channel samples taken in trenches excavated near the boundary of the existing Resource at the Ewatinona deposit, part of the 2.8Moz Misima Gold Project in PNG. The trenching programme has returned multiple high-grade intercepts including: 22m @ 3.90g/t Au incl 6m @ 12.65g/t Au, incl 4m @ 18.33g/t Au 44m @ 1.18g/t Au incl 10m @

Kingston reports further excellent Ewatinona definition drilling results

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

Kingston completes Misima resource definition drilling programme

KINGSTON Resources Limited (ASX: KSN) has completed its resource definition drilling programme at the Ewatinona deposit within its 2.8Moz Misima Gold Project in Papua New Guinea. Managing Director, Andrew Corbett, said the successful drilling campaign paved the way for the release of an updated Mineral Resource estimate in the June 2020 Quarter. The Resource drilling programme was designed to expand and upgrade the existing 220koz Inferred Resource estimate at Ewatinona,