• Simberi oxide expansion circuit commissioned

    ST BARBARA has commissioned the 3.5 million tonne/annum oxide expansion circuit at Simberi Gold Project which it says is a vital step towards establishing a profitable and sustainable operation. The tailings thickener and detoxification unit was expected to be commissioned by the end of January.

  • WCB upgrades potential of Misima

    WCB RESOURCES is more confident about the potential of Misima Island porphyry Copper-Gold-Silver Project after examination of historic drill results resulted in identification of significant copper halo results. Halo drill results are considered important in demonstrating project potential and are routinely used for targeting the deeper higher grade central regions of the system.

  • PAPUA NEW GUINEA - Kibush signs gold joint venture

    Kibush Capital Corporation has signed a joint venture agreement with the leaseholders of two mining leases at Koranga, Wae, PNG. The leases cover approximately 26 hectares of alluvial resource and are in an area that has been producing gold since 1920.

  • PAPUA NEW GUINEA - Crater Gold lodges HGZ application

    Crater Gold Mining’s flagship Crater Mountain project is set to become PNG’s newest gold mine since Hidden Valley following lodgement of a Mining Lease Application for the High Grade Zone (HGZ) of the project. This could expedite production to begin as early as September this year.

  • PAPUA NEW GUINEA - Kula granted Woodlark permit

    An Environment Permit for the Woodlark Island Gold Project was issued last week by PNG Director of Environment Gunther Joku to Woodlark Mining Ltd, the wholly-owned subsidiary of Kula Gold.

  • PAPUA NEW GUINEA - Nautilus terminates agreement

    Nautilus Minerals advises that contrary to the arbitrator’s award of October 2, 2013, the Independent State of Papua New Guinea has not completed the purchase of its 30% interest in the Solwara 1 Project. Therefore, in accordance with the State Equity Option Agreement signed by the parties in March 2011, Nautilus has terminated the agreement and will now claim damages.

  • PAPUA NEW GUINEA - Yandera optimization work continues

    Optimization work on the feasibility study for Marengo Mining’s Yandera Copper-Molybdenum-Gold Project in Madang province is ongoing while the company is also continuing discussions with a number of groups regarding provision of power to the project.

  • PAPUA NEW GUINEA - Ok Tedi dumping order

    Papua New Guinea’s national court has ordered the Ok Tedi mining company to stop dumping waste into the Ok Mani, Ok Tedi and Fly rivers and all its tributaries - a move that could effectively shut the mine.

  • PAPUA NEW GUINEA - Indochine completes landowner study

    The completion of a Landowner Investigation Study (LIS) marks a major milestone at Indochine Mining’s Mt Kare Gold Project. This work will secure legal rightful entitlements for genuine traditional landowners as the LIS is included in the final submission of the Landowner Investigation Report (LIR).

  • PAPUA NEW GUINEA - Coppermoly drilling plans

    Mineral explorer Coppermoly Limited has announced drilling plans at its Nakru-02 prospect on New Britain Island. Exceptionally high-grade copper assays received from a surface sampling program in late 2013 have identified the area as the company’s priority exploration target.

  • PAPUA NEW GUINEA - High copper grades in Nakru-02 samples

    Coppermoly has received exceptionally high grade copper assays from rock chip and float samples collected over the Nakru-02 prospect at the Nakru exploration licence on New Britain Island.

    Best results from rock chip samples collected from mineralized outcrops are 24%, 5.15%, 3.4% and 1.88% copper. Samples were taken at 3 to 5 metres intervals from outcrops.

  • RMG to develop investment capabilities

    WITH natural resources currently accounting for 60% of Papua New Guinea’s (PNG) exports, and expectations that the liquefied natural gas (LNG) project will enter into production this year, doubling the size of the nation’s economy, mineral resources have become an important part of the overall PNG national development program. Now, with assistance from the World Bank, Raw Materials Group (RMG) has been asked to advise and support the PNG Government in further strengthening the investment promotion capabilities of its Mineral Resources Authority (MRA) and Geological Survey Division.

  • PanAust to acquire major Frieda River stake

    PANAUST Limited has entered into a share sale and purchase agreement with a subsidiary of Glencore Xstrata to acquire Glencore’s 80% interest in the Frieda River Copper‐Gold Project by acquiring all shares held by Glencore in Xstrata Frieda River Limited (XFRL), a PNG registered company. PanAust has also agreed to take a 7.5% stake in Highlands Pacific, which has the minority interest in the project, by way of a placement.

  • Funds for underground adit at Mt Kare

    INDOCHINE Mining will use around Aus$6 million raised in a 2 for 5 pro-rata non-renounceable entitlement offer to commence construction of an underground adit at Mt Kare Gold-Silver Project. The adit will enable Indochine to seek to achieve its near term target of defining 1 million ounces of gold at a grade of 10 grams/tonne gold.

  • Alexander project enters third phase

    ALEXANDER Mining’s project in the Prince Alexander range of East Sepik province is entering its third phase of exploration, according to PNG Minister for Trade, Commerce and Industry Richard Maru. This phase will involve drilling with two drills to operate at West Yangoru and one at Ulupu in Marprik.

  • Bonanza grades revealed at Crater Mountain

    CRATER Gold Mining has intersected very high grade gold in separate narrow mineralized structures underground in the High Grade Zone (HGZ) at Crater Mountain Gold Project. Bonanza grade assays returned from the No 1 East Cross Cut left hand wall include 0.2 metres @ 847 grams/tonne gold, 1.0 metres @ 554 grams/tonne, 0.2 metres @ 525 grams/tonne and 0.2 metres @ 523 grams/tonne.

  • WCB receives Misima technical report

    WCB Resources has received an independent NI 43-101 Technical Report covering the Misima Gold-Copper Project in Milne Bay province. The report includes the initial inferred resource estimate for the Umuna Zone of 43.1 million tonnes at grades of 1.1 grams/tonne gold and 6 grams/tonne silver for a contained total of 1.57 million gold ounces and 8.5 million silver ounces.

  • Kula Gold secures working capital facility

    KULA Gold has arranged a working capital facility for Aus$3 million with RMB Resources. The facility ensures the company is funded through the final stages of the PNG Government approval process for the Woodlark Island Gold Project and provides working capital for most of 2014.

  • Nautilus aims to push on with Solwara 1

    AFTER receiving a favourable decision on arbitration with the State of Papua New Guinea, Nautilus Minerals aims to bring the Solwara 1 polymetallic seafloor massive sulphide deposit into production as soon as possible. In light of the arbitrator’s award, Nautilus will work with the government to move the seafloor project forward.

  • Marengo assured of funds for 2014

    MARENGO Mining has agreed to a refinancing transaction with major shareholder Sentient Executive which will ensure financial support for operations at the Yandera Copper-Molybdenum-Gold Project through 2014. Sentient and its related entities hold 21.97% of Marengo, which would increase to 65.26% assuming conversion of all new debentures issued in connection with the refinancing.

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