Frieda River Copper-Gold Project

This includes the cost of the mine development, process plant, Integrated Storage Facility (ISF) and hydro-electric power plant, road construction and airport upgrades and power transmission network.

This is revealed in the Feasibility Study presented to Highlands Pacific Limited by project manager PanAust Limited.

The Feasibility Study also proposed a much longer mine life of 33 years, compared with 17 years in the prior study.

The lodgement of the application satisfies a ministerial condition placed on the key Exploration Licence (EL58) that an application for an SML in respect of the Frieda River Mining Project be made on or before 30 June 2016.

The Frieda River Project represents the next generation of mining operations in Papua New Guinea and if developed, has the potential to make a strong contribution to the national economy through the development of major shared-use infrastructure.