Woodlark Mine

Mine operator, Geopacific Resources Limited, when announcing its optimization–focused work program, revealed how power consumption has been determined as the single largest cost driver.

The company says they now are now focused on optimizing areas of the Project that may yield reductions in power consumption.

Metallurgical testwork is being carried out on areas most likely to provide opportunities. These are considered to be the grinding and pumping circuits in the processing plant.

Mine operators Geopacific Resources Limited announced in a statement that many technical aspects of the mine have been investigated in detail and consequently, work is centered on assessing optimisation opportunities.

They include modular construction techniques; refining the processing plant flow sheet and technology.

Geopacific says considerable effort is being applied to optimising mining with areas of interest, including optimal mine design, refining grade-scheduling to shorten the capital paycheck period and equipment selection.

NASFUND to pay 7.25 percent to members

Over K260 million will be paid to the accounts of National Superannuation Fund Limited (NASFUND) members.

http://www.looppng.com/png-news/nasfund-pay-725-percent-members-53081

This is due to the establishment of an independent laboratory on the island which has already begun testing the samples.

Operators of Woodlark Mine, Geopacific Resources Limited, say the first ‘assay’ results are imminent which are prepared by Intertek who operate the laboratory at Woodlark.

‘Assay’ refers to the chemical analysis of a mineral or ore sample to ascertain its content of precious metals or minerals, such as gold, copper, or uranium.

The Intertek Laboratory is independent of Woodlark with supervision and quality control monitored by Intertek staff.