Far more rational, sensible approach, hear! hear!
(I trust same applies to Wild Dog/Sinivit which is an environmental and LO relations disaster area, at least until the company has far greater capacity than it now enjoys.)
Am not 1000% fan of Tolekuma as the terrain/access is difficult, and there are environmental problems with the original mine and surrounds in the waterways, but I can see the logic there, and the neighbors are world class, and the original mine has produced a lot of gold though from narrow veins, so hopefully there are more deposits to be found nearby.....Rio obviously thinks there are.
Attached is an insight into how the Mines minister/government are thinking generally. The last para indicates a positive approach.
I feel we have moved forward recently, and management have shown prudence at the same time as getting things rolling along a bit more.
Post Courier | September 21, 2017Mining Minister Johnson Tuke says he is optimistic about the outcome of the Mining Act review.Mr Tuke told the Papua New Guinea Chamber of Mines and Petroleum this during his ministerial meeting yesterday.He told the Chamber officials that despite his proposal to review the Mining Act which has created a lot of anxiety within the industry, he is optimistic of an outcome that would be accepted by affected parties.He said as per the review of the Mining Act, his ministry and the National Government were working in line with government priorities to address it.He said Prime Minister Peter O’Neill will meet with the Secretary for Department of Mining Harry Kore for a briefing on the review of the Mining Act this week and that the Mineral Resources Authority (MRA) and the Department of Mining will also conduct a power-point presentation next week for all industry stakeholders.His meeting with the chamber was to enhance the ministry’s relationship with the industry at which the minister said he is more than happy to hear what the chamber has to say regarding the mining industry in Papua New Guinea.“All economic ministries have been given a 100-day ultimatum to perform by the National Government and therefore I would like to work closely with you, the Department of Mining, Mineral Resources Authority and all extractive industry companies in order to realise the government’s agenda.“My plan is to visit all mining projects in Papua New Guinea as minister responsible and I would like to meet with company officials and discuss matters of importance,” said the Minister.He also announced that during his term in the ministry he will take on board the Wafi-Golpu and Frieda River mining projects and ensure that these important mines are operational.[/table]
FNT Price at posting:
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Post Courier | September 21, 2017Mining Minister Johnson Tuke says he is optimistic about the outcome of the Mining Act review.Mr Tuke told the Papua New Guinea Chamber of Mines and Petroleum this during his ministerial meeting yesterday.He told the Chamber officials that despite his proposal to review the Mining Act which has created a lot of anxiety within the industry, he is optimistic of an outcome that would be accepted by affected parties.He said as per the review of the Mining Act, his ministry and the National Government were working in line with government priorities to address it.He said Prime Minister Peter O’Neill will meet with the Secretary for Department of Mining Harry Kore for a briefing on the review of the Mining Act this week and that the Mineral Resources Authority (MRA) and the Department of Mining will also conduct a power-point presentation next week for all industry stakeholders.His meeting with the chamber was to enhance the ministry’s relationship with the industry at which the minister said he is more than happy to hear what the chamber has to say regarding the mining industry in Papua New Guinea.“All economic ministries have been given a 100-day ultimatum to perform by the National Government and therefore I would like to work closely with you, the Department of Mining, Mineral Resources Authority and all extractive industry companies in order to realise the government’s agenda.“My plan is to visit all mining projects in Papua New Guinea as minister responsible and I would like to meet with company officials and discuss matters of importance,” said the Minister.He also announced that during his term in the ministry he will take on board the Wafi-Golpu and Frieda River mining projects and ensure that these important mines are operational.[/table]
