Kainantu Resources Limited (KRL) has started trading on the Toronto Stock Exchange in Canada.
Mining Minister Johnson Tuke extended his congratulations, adding that KRL is an emerging gold exploration company, proactively working with the people from PNG.
“KRL brings an experienced regional team to PNG at the junior exploration level, and their management has already teamed well with PNG nationals who have spent their careers working in our mining industry,” he said. “I trust this level of co-operation will set the groundwork for KRL’s future prospects in the country.”
The Mineral Resource Authority was glad to support KRL in its preparation for its public listing, saying that this is an example of a positive partnership that will benefit PNG and its people.
“I am also encouraged by the community stakeholder support in Kainantu for KRL as seen at recent Warden’s hearings in the district,” Mr Tuke said. “It gives me great pride as the local member to see the community working with KRL to support their efforts, which will generate further investment in the Kainantu region over time.”
He added, “I offer my congratulations to KRL as it continues its journey in PNG and joins the many existing miners already successfully operating in the country. The mining industry currently generates 26 per cent of PNG’s GDP and directly employs 20,000 people (and a further 30,000 people indirectly). As Minister, I stress the importance of mining to PNG’s economy and continue to encourage all levels of investment into the sector.”
