Mining convention to discuss ways to improve industry

MINERS, gold exporters and regulators from the alluvial mining sector will meet in Goroka, Eastern Highlands, this week to deliberate on ways to improve the industry.
The third PNG Alluvial Mining Convention and Trade Show will be facilitated by the Mineral Resources Authority (MRA) at the National Sports Institute tomorrow and Friday.
According to MRA’s deputy manager technical assessment branch Margaret Aulda, capacity building for the alluvial mining sector will allow for its full potential to be realised to the benefit of the country.
With this year’s theme ‘Mechanising the alluvial industry’, Aulda said the authority recognised the alluvial sector needed to be promoted. Alluvial mining is reserved only for PNG citizens under the Mining Act 1992.
Alluvial gold production and revenue levels between 2014 and 2016 have naturally responded to the fluctuating gold prices on the world market.
According to the Mineral Resources Authority, production has continued to fall from the historic high of 120,000 ounces of gold in 2014 which netted in K373.3 million, to 113,000 ounces in 2015 which generated K356.3 million.
This year the MRA expects that 90,000 ounces of gold will be produced.
To date revenue is K266.7 million at the end of third quarter, and MRA projects around K355.6 million for the full year.