Chamber welcomes mine’s registration

THE PNG Chamber of Mines and Petroleum has welcomed the recent lodgment and registration of a Special Mining Lease application for the Frieda River copper-gold project.
Executive director Greg Anderson in a statement noted the importance of the SML application and said the project represented the next generation of mining operations in the country.
And if developed, it has the potential to make a strong contribution to national economy through development of major shared-use infrastructure.
“This is a significant milestone for the long-awaited Frieda River project and, while there is much work to do before the project can be developed, the efforts of the proponent PanAust supported by joint venture partner Highlands Pacific are to be applauded,” Anderson said.
He said the SML application came at a challenging time for the industry. “Before a positive final investment decision can be made, the Frieda River project will require an improved metals price outlook and strong support from the Government, including through ensuring legal and regulatory certainty,” Anderson said.