Over K28m spent on exploration: Firm

More than K28 million has been spent on exploration activities in at least 12 months by Harmony Gold.

This makes it one of the largest exploration expenses in PNG.

This was revealed by Harmony Gold’s district geologist, Bernard Kavanamur, during the recent mining conference.

The mining firm has identified a good number of areas and is currently under project programs in terms of gold and copper-gold mining.

During the presentation of Harmony’s tenement portfolio, Kavanamur highlighted that projects are underway, including Wafi-Golpu, Kili Teke and Poru in the Ialibu-Pangia district in Southern Highlands Province.

He said Harmony in the last six years has seen a large development in mining of the resources gold and copper, along with the development in explorations.

The geologist revealed that Papua New Guinea has some of the world’s largest deposits which are in access of 30 million tons and 73 million ounces still not developed and still in the development pipeline.

The geologist noted that there is a potential for many parts of Papua New Guinea to be explored in terms of large scale deposits of gold and copper.

(Production at Hidden Valley – Image by Morobe Mining Joint Ventures)

Author: 
Imelda Wavik