Highlands Pacific Limited

Over K20b needed for Frieda River 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.

Gangloff appointed to Highlands Pacific board

In a statement, Highlands board chairman, Ron Douglas, said he was delighted that Gangloff had agreed to join Highlands, where he will contribute extensive corporate expertise and PNG experience to the Board.

Gangloff brings a broad range of skills that will be invaluable to the Highlands’ Board as they enter a new chapter in our corporate development.

Potential expansion of PNG project investigated

In a statement early this month, Highlands Pacific said the manager and majority partner in the Ramu joint venture, Metallurgical Corporation of China Limited (MCC), is investigating the expansion of the project which may cost in the order of US$1.5 billion.

The company said details of any proposed expansion will be announced when they are finalised.