Minister Ano Pala speech at the conference
The Mineral Resources Authority (MRA) is processing and monitoring over K45 million worth of new capital investments in mining projects, and about K10 billion worth of investments in sustaining capital expenditure on existing mines.
Mining Minister Honourable Sir Ano Pala (MP) revealed this when delivering his speech at the 16th PNG Chamber of Mines & Petroleum Conference 2022 in Sydney, Australia, this week.
“I’m very pleased to announce that some very important mining projects had already been permitted whilst others are currently going through the permitting process. These projects are worth a total of K13 billion of potential new capital investment. Projects going through the permitting process are the K5.3 billion Wafi Golpu Copper project, comprising K 2.5 billion sustaining capital expenditure, – and the K7.2 billion Freda River copper and gold project.
Projects that have been permitted are the Woodlark Gold Project, and the K3.331 billion Central Lime Cement project.
Ramu Nickel Cobalt mine will be undertaking a K1.5 billion expansion program.