Anglo American

Govt urged to follow Anglo American’s lead

The call has been made by the Alliance of Solwara Warriors following the May 4th announcement of the diversified miner in the Financial Times.

In a statement the Alliance of Solwara Warriors said the Government should “take heed of Anglo-American’s action as a professional example and withdraw its 15 percent share while there is still some value (K0.51 May 10th 2018)”.

“This is a clear indication of loss in investor confidence in the Solwara 1 Project and experimental seabed mining in PNG.

PNG mineral prospects high

The Minerals Resources Authority said positivity remains high following the registration of the Frieda River and Wafi-Golpu SMLs and the entry of Anglo American, as reported in the Mining and Petroleum Review (Vol.4 Issue 3).

The SML applications have been described as a unique situation in PNG mining history as there has been, on average, one project per decade.

The MRA says active licenses have increased for the period January to August 2016, from 125 to 134 (a 7 percent increase), which is consistent with the renewals increasing from 54 to 68.