Firms set for exploration

 LOCAL company Kair Engineering Ltd has signed a joint venture agreement with Australian-based Corporate Executive Mining Ltd in Port Moresby to conduct mineral exploration in Chimbu.

The directors and shareholders of Corporate Executive Mining Ltd (Australia) also announced a 50-50 joint venture partnership with Kair Engineering Ltd. 

Corporate Executive Mining Ltd managing director Robert Tindal said Kair Engineering was a 100% nationally-owned company operating in Chimbu.

“Corporate Executive Mining is proud of our new partnership and look forward to working with the communities in PNG,” he said.

Executive director Steven Kilage said it would be the first mine in Chimbu and was a big investment doing a joint venture with a local firm.

“We are proud of the formation of new partnership and it’s significant in delivering the first gold mine in Chimbu,” he said.

Kair Engineering Ltd managing director David Herman Tambagle added the joint venture was also a milestone for the province

“This is a milestone step of a thousand journeys yet to be covered.

“To reach a destination only takes a bold one-baby step at a time,” he said.

“We have struggled to do business in the country and it’s a milestone for the company.”