Mining investor visits Madang


EFFORTS by Madang Governor Peter Yama to lure investors to the province is paying off with American mining investor, World Management LLC, arriving in town on Monday.
Yama said Madang had a lot of opportunities to offer international investors willing to comply with the country’s rules and standards, including the protection of the environment.
Madang provincial mines director John Bivi said Madang had seven mining prospect areas and exploration companies could apply for licences to explore.
He said the Ramu nickel and cobalt mine in Kurbukari, Bundi, was the only mine operating in the province.
Marengo is in its final construction phase.
American Michael Brouillette, from the World Management LLC, said his team’s visit was to view the potential investment which had financial and social merit contributions.
Brouillette and his team visited the Marengo mine in Yandera, Bundi.
Meanwhile, a hearing held eight weeks ago in Yandera decided to revoke the mining licence held by the Era Resource Limited.
Yama said landowners were frustrated that it had taken the company 12 years to develop the mine.
They wanted the mining licence to be revoked and given to another company.

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