Diversify, Re-Invest and Manage Better: Mr Garry

GOROKA: Alluvial gold miners in the country have the potential to become billionaires if they diversify into other businesses, re-invest and manage their money well, said Mineral Resources Authority Managing Director, Jerry Garry.

Mr. Garry was speaking at the 6th Alluvial Mining Convention & Trade Show 2024 in Goroka yesterday, where over 300 miners, government regulatory agencies, gold buyers, exporters, financiers and other relevant stakeholders are gathered this week, to share information, experiences and discuss regulatory policies amongst other agendas.

The MD shared a motivational story of how the former operator of Porgera Mine, Placer Dome started from the Wau-Bulolo gold fields in 1926. He said two expatriates went up to Wau-Bulolo in 1926, where they realized that there was abundant gold resources in the area. The two men, an Australian and a New Zealander, formed a company called Placer Development Propriety Limited. The men raised funds and purchased eight dredge machines and mined in the Wau-Bulolo gold fields.

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