A LOCAL landowner company from Kainantu, Eastern Highlands pro-vince, has been granted an alluvial mining licence by the Mineral Resources Authority (MRA).
Mt Victor Gold Investment Ltd, a company of landowners from Besa village near Kainantu, was granted the licence recently to fully operate as alluvial and small-scale miner at Mt Victor.
Mt Victor Gold Investment chairman Joe Bumbandi said: “It is a historic achievement for the people of Besa, Kainantu and Eastern Highlands being the first to be granted the alluvial mining licence.
“Within the Eastern Highlands province, there are many small-scale miners who are operating unrecognised by the mining authority but who should have been granted mining permits.
“We are fortunate to have been awarded the licence,” Mr Bumbandi said.
Mr Bumbandi, who is also the managing director, said his company aimed to develop and establish an alluvial mine at upper course of Ba’obo Creek, which is part of the upper course of Tutubiroa River within the vicinity of Mt Victor.
The licensed area is about 5ha, inclusive of Helipad Field located about 15km north-east of Kainantu.
The gold deposits in this zone had been tested and the assay test showed the gold resource was 85% to 90% pure.