PanAust committed to doing business in PNG
PANAUST executive chairman Dr Qun Yang says the company is committed to doing business in PNG.
“PanAust is not only keeping our employees and communities safe, it facilitates above budget production and cost outcomes that enables us to provide a better future for people living in communities close to where we work. It also provides a template for how we intend to do business in jurisdictions we intend to enter, including PNG,” Dr Yang said in the company’s report.
PanAust in December 2018, announced a new pathway for the project which is focused on the development of share-use infrastructure that will support and in turn be supported by a hydroelectric facility and a mine operation.
Known as the Sepik Development project – the pathway contemplates four interdependent projects that together will create a new economic corridor across the West and East Sepik provinces.
These projects include the Sepik Infrastructure project, Frieda River Hydroelectric project, the Sepik Power Grid project and the Frieda River Copper-Gold project, owned by PanAust through its wholly-owned subsidiary Frieda River Limited.
Earlier this year in April Government representatives from CEPA and MRA and PanAust’s country manager, delivered copies of the Sepik Development Project Environmental Impact Study (EIS) to West and East Sepik provincial governments, several local level governments and the seven near-project communities.