PAPUA NEW GUINEA - Marengo appoints national manager

Marengo Mining has further strengthened its executive management team, appointing a new national manager for its Papua New Guinea operations. Stevie TS Nion will take the lead role in moving the company towards possible development of its flagship Yandera copper-molybdenum-gold project in central Madang province. The project hosts a measured and indicated 362 million tonnes @ 0.43% copper.

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PAPUA NEW GUINEA - Xstrata assesses Frieda River stake

Copper-mining giant Xstrata is assessing options for its stake in the Frieda River Copper Project in Papua New Guinea, potentially worth more than $2 billion, as part of a review of its development projects worldwide.

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PHILIPPINES - Astra secures buyer for Babuyan Channel iron ore

Kunming Gongxin Trading (KGT) has signed a letter of intent to purchase 600,000 tonnes of iron ore from Astra Resources’ Babuyan Channel iron sand project in northeast Luzon. An offtake agreement will be signed once KGT has received confirmation of the grade of iron ore within the project area, and outlines KGT’s intent to buy 50,000 tonnes of iron ore each month for the next year.

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