Mining & Exploration Bulletin Jan-Jul 2012
The Bulletin is an official publication of the he Bulletin is an official publication of the Mineral Resources Authority (MRA) of Papua New Guinea. New Guinea
The Bulletin is a bi- The Bulletin is a bi-annual publication that is annual publication that is intended to give information on the performance and development of mineral exploration and mining projects in the country. and mining projects in the country.
It also contains articles on the administrative functions of the MRA as well as government initiatives and policies on the industry.
The last 10 years has been a enriching period for the minerals industry in Papua New Guinea. Papua New Guinea’s investment portfolio increased, with increased tenements and diversification in mineral elements.
This year will see Papua New Guinea exporting nickel and cobalt, and in exploration, companies are discovering, iron and Chromite in heavy beach sands, platinum and other PGM minerals, and rare earth elements.
Papua New Guinea’s tenements estate increased tremendously over this period. By March 2012, the country had 299 current exploration licenses and 275 applications for exploration licenses, taken by approximately 132 different companies (see figure 2).
Almost 80-90 percent of the country is under tenements. In 2006, just prior to the establishment of MRA, less than 5 % of the country was under tenements, as seen in figure 1.
In the mining industry Papua New Guinea commands the respect of international companies and investors. PNG is still seen as a prospective country, with the potential to host new world class mines to its portfolio of existing world class mines in Bougainville, Lihir, Ok Tedi, Porgera, Ramu, and in world class advance exploration projects such as Frieda River, Wafi Golpu and Yandera.
Projects like Coppermoly’s Simuku & Mt Nakru, Gold Anomaly’s Mt Crater, Papua Precious Metals’ Doriri, Urua & New Hanover, Goldminex’s Liamu, Titan Mines’ Amazon Bay Iron Sands, and Nautilus’ Solwara 12, are displaying encouraging results.
These projects may well be the next generation advance projects, and possibly mines in the near future, and will contribute to the continued good health of the mineral industry in Papua New Guinea…