OVERVIEW - Tax credit essential for the mines of tomorrow

Research undertaken by the University of Western Australia in 2012 indicates that mineral discoveries are reducing, getting deeper and harder to find, and equity investment is being lost to competitive offshore projects. It also found that the national mineral inventory is gradually being depleted and the mining industry is becoming unsustainable in the long run.

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PAPUA NEW GUINEA - Mt Kare exploration licence renewed

Indochine Mining has been formally advised that the exploration licence has been renewed over the company’s Mt Kare Gold/Silver Project. The licence is held by Indochine’s wholly-owned subsidiary, Summit Development Limited.

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PAPUA NEW GUINEA - Nickel laterite found at Sewa Bay

Highlands Pacific reports encouraging nickel laterite assay results from a reconnaissance exploration program on its Sewa Bay tenements on Normanby Island at the southeast tip of Papua New Guinea.

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PHILIPPINES - Didipio ramp-up takes three months

OceanaGold’s Didipio Gold-Copper Project has successfully ramped up to commercial production rates in just three months from commencement of first ore through the mills in December 2012. This prompted the company to declare commercial production effective April 1.  1

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