Photo credit: K92 Mining Inc K92 Mining Inc is pleased to provide its operational outlook for 2023. The Company expects gold equivalent production of 120,000-140,000 ounces, while also delivering low-cost production with an estimated cash cost of $620-$680 per ounce gold and AISC of $1,180-$1,300 per ounce gold. Cash cost and AISC per ounce have increa...

Photo: Barrick Gold Corporation Chief Executive Officer Mark Bristow Barrick Gold Corporation Chief Executive Officer Mark Bristow has urged all PNG parties involved in the Porgera Mine reopening negotiations to complete the process by the end of the first quarter 2023. Bristow was in country as part of his quarterly visits to all Barrick owned and ...

Photo: Minister for Mining Ano Pala The Mining Act of 1992 is set to undergo adjustments to address sensitive areas and unclear areas such as alluvial mining and exploration activities. This was announced by Minister for Mining, Ano Pala, in response to questions raised by Member for Bulolo, Sam Basil Jr, in Parliament. Mr. Basil highlighted the nee...

Photo: Barrick CEO and President Mark Bristow addressing PJV Town Hall meeting at Porgera Mine site during a quaterly visit in 2022 Barrick Niugini Limited (BNL) has clarified in a media statement that the Porgera Mine remains and is progressing in a care and maintenance mode of operation and that the current defined rehiring process of the skilled wor...

Many of Papua New Guinea’s most unruly problems are inseparably tied up with the country’s most promising sources of wealth. Mining, gas, timber, and other extractive industries are the most productive sectors of Papua New Guinea’s otherwise ailing economy. But exploitation of these resources has also led to violence, corruption, and lack of service deliv...

Photo credit: K92 Mining K92 Mining has announced production results for the fourth quarter of 2022 at its Kainantu Gold Mine in Papua New Guinea, of 35,538 oz AuEq or 31,204 oz gold, 1,827,085 lbs copper and 40,517 oz silver. Annual production achieved a record of 122,806 oz AuEq or 107,546 oz gold, 6,247,950 lbs copper and 126,043 oz silver, achievin...

Photo credit: Zijin Mining. Aerial view of the Porgera gold mine The Prime Minister recently responded to the press statement that was published by the Deputy Opposition Leader in relation to the reopening of the Porgera Mine. “The Deputy Opposition Leader has never sat down at the table with any project stake holders to negotiate a way forward for ...

Photo: A haul truck being loaded with ore at the Ok Tedi mine. Ok Tedi Mining Limited (OTML) recently announced that a dividend of PGK300 Million will be paid to shareholders on or before 31 December 2022. OTML Chairman Dr Roger Higgins thanked employees, contract partners and mine impacted communities for their support throughout 2022. He added ...

Photo: Sandeep Biswas According to the International Energy Agency, copper is essential for additional solar PV, wind, bioenergy, networks, electric vehicles (EVs), and battery storage in the field of clean energy solutions. According to Sandeep Biswas, managing director and chief executive officer of Newcrest Mining Limited, the International Energ...

Photo credit: K92 Mining K92 Mining is pleased to announce that the Government of Papua New Guinea has granted an extension of Mining Lease 150 for the Kainantu Gold Mine in Papua New Guinea for a period of 10 years to June 13, 2034. Concurrent with this announcement, K92’s Board of Directors have approved the Stage 3 and Stage 4 Expansions (collect...

Photo: OTML General Manager and Chief Financial Officer Cameron Clark speaking at the PNG Mining and Petroleum Investment Conference The Ok Tedi Mine will generate over PGK19 Billion in dividends for the benefit of Papua New Guinea over the next 11 years, says Ok Tedi Mining Ltd (OTML) General Manager Commercial and Chief Financial Officer Cameron Clar...

Photo: Musje Werror The Board of Ok Tedi Mining Ltd announced that it has accepted the resignation of Managing Director and CEO, Musje Werror. OTML Board Chairman, Dr. Roger Higgins, made the announcement today. Dr. Higgins thanked Mr Werror for his contribution to Ok Tedi over many years, starting as a graduate trainee, working across all aspect...

Photo credit: PNGEITI - Porgera Mine The Porgera chamber of commerce and industry hopes that the re-opening of the mine will go ahead as planned. Chamber president Nickson Pakea said the mine must be re-opened next month as announced recently by Prime Minister James Marape. Pakea said the mine closure had led to criminal activities. “The mine ...

Photo credit: Mining Digital  There were no pandemic-related delays in Newcrest Mining Limited's 2 million ounces of gold output in the fiscal year 2022, despite the fact that several maintenance and improvement projects were carried out. Sandeep Biswas, managing director of Newcrest, stated at the company's annual general meeting (AGM) in Melbourne...

According to Governor Luther Wenge, the Morobe government will review the 2005 Memorandum of Agreement (MOA) for the Hidden Valley project with developer Harmony Gold Mining and stakeholders. According to Wenge, the original agreement from 2005 called for a review once the Hidden Valley mine had been in operation for three years. “Many things stipul...

OK Tedi Mining Limited plans to extend its operation beyond the mine life in 2032. According to managing director Musje Werror, the Ok Tedi mine still contains roughly 200 million tonnes of resource that will remain in the earth after 2032 and can support mine operations long into the 2040s and even the 2050s. “We have been in operations now for 38 ...