Following the completion of all terms with former joint venture partner Pan Pacific Copper to buy its 19% stake in the Misima gold project in Milne Bay, Kingston Resources Ltd now holds a 100% interest in the project. Kingston has received the final tranche of the overall consideration of AU$2 million (K4.31 million) since receiving all regulatory appr...
K92 Mining recently revealed that its Kainantu gold mine in Papua New Guinea's Eastern Highlands province produced a record annual gold-equivalent output of 98,872 oz. The gold equivalent volume is 95,109 oz of gold, 1,853,078 lbs of copper, and 36,067 oz of silver, reflecting a 20 per cent growth in AuEq from the previous year. Cash costs of US$651/oz...
The Mineral Resources Authority (MRA) is gathering feedback from all project stakeholders involved in the Simberi gold mine in New Ireland to determine the best course of action for the amended memorandum of agreement (MoA). The National Executive Council (NEC) authorised the updated MoA for signing in April 2017, according to managing director Jerry G...
Ok Tedi Mining Limited (OTML) has begun introducing a Mass Testing Program within its activities in order to avoid further COVID-19 transmission and ensure a secure return to operations. Following a spike in COVID-19 cases on the mine site and in Papua New Guinea, the company began introducing the program on Friday, March 19th, for a period of 14 days....
Adyton Resources Corporation has started a 3,000-meter diamond drilling program at its Gameta Gold Project on Fergusson Island, which is part of Papua New Guinea's "Rim of Fire." The Gameta Gold Project has a 360,000-ounce gold (oz Au) inferred mineral resource, and Adyton's Wapolu Gold Project on Fergusson Island has a 140,000-ounce gold (oz Au) infer...
After PNG declined to renew a special mining lease (SML), the mine was shut down about a year ago. Barrick Niugini is appealing both the rejection and PNG's August decision to grant an SML to state-owned Kumul Minerals Holdings. President and CEO Mark Bristow said in Barrick's annual report issued last week that the company had signed an in-principle d...
K92 Mining said that the corporation, as well as the resource sector, is worried about the rise in Covid-19 cases in the nation. According to John Lewins, the company's CEO, it has the potential to have a huge impact on PNG's entire resource industry and, by extension, the rest of the economy. “While the major concern should be the health and wellbe...
According to K92 Mine Inc, the falling worldwide gold price means that mining companies in the country will reduce non-essential spending, which would have an effect on suppliers. John Lewins, the company's CEO, was responding to questions about existing gold prices. He added that the gold price began the year at around US$1,950 per ounce (K6,694.49...
According to an official, the Wafi-Golpu Joint Venture (WGJV) will follow the proper procedures before its application for special mining lease 10 is approved. David Masani, WGJV's principal community engagement advisor, stated this during the company's numerous scheduled meetings with communities that would be impacted by the K18.4 billion gold-copper...
The Australian Government's ban on incoming and outgoing travel between the neighbouring countries is expected to have no effect on Newcrest Mining's Lihir gold activity in Papua New Guinea (PNG). The Lihir operation is undergoing a scheduled maintenance shutdown and is steadily resuming operations. Newcrest stated that it was working closely with t...
COVID-19 has forced Ok Tedi Mining Limited (OTML) to pause operations in order to protect its employees, communities, and operations. Due to a recent increase in COVID-19 cases at the mine site and in Papua New Guinea, OTML will temporarily pause operations on Friday, March 19th for 14 days to prevent further virus transmission within its operations. ...
According to the National Research Institute, given Bougainville's position within the Pacific Rim of Fire, the possibilities for mining various minerals, especially gold and copper, are vast (NRI). Following the collapse of the Panguna mine, NRI noted in a recent report on Bougainville that regaining foreign investor trust in mining in Bougainville wa...
The head of one of the Bougainville landowner groups impacted by the Panguna mine says it is up to the landowners to decide whether or not to reopen the mine. The Panguna Mine was at the heart of the ten-year Bougainville civil war, and it was forced to close in 1989 when it was PNG's largest export earner. But, thanks to Panguna Development Company...
In 2021, K92 Mining will invest K50 million in exploration. Exploration dollars are critical, according to John Lewins, chief executive officer and director of K92 Mine, because they extend the project if good prospects are discovered. The mine was re-commissioned in 2017 and announced commercial production at the start of 2018, according to Lewins....
By the end of the month, a technical team from the Papua New Guinea technical (PNG) Mineral Resources Authority (MRA) will soon be tabling an assessment on the details regarding the construction of the Wafi-Golpu Mining project to the mining advisory council (MAC) According to MRA managing director Jerry Garry, “Permitting of a special mining lease for...
The Singapore company exploring sand mining opportunities in Madang in Papua New Guinea has withdrawn its interests. According to the Mineral Resources Authority (MRA) Jerry Garry, the company had told them of its intention to pull out. “The (mining advisory) council has not deliberated on the withdrawal application,” he said. “As and when it’s re...
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