"Molybdenum, as well as being difficult to spell and difficult to pronounce has a wealth of uses. Its substitution is more difficult and it is better to pay more for it than try and find a substitute."

Les Emery, Marengo Mining managing director. Marengo is developing the Yandera project in Papua New Guinea.

"There are huge world class deposits still to be discovered. Only one-third of the mineral resources have been exploited. There are still two-thirds in the ground."

John Horan, Marengo Mining chairman presenting an address on behalf of PNG Mines Minister Sam Akoitai to the Asia Pacific Down Under Conference held in Perth recently.