MRA calls for more exploration

By NATHAN WOTI
EXPLORATION expenses in the mining sector dropped to about K108 million in 2023 from a high of K604 million in 2015 which was an 83 per cent fall in eight years.
Mineral Resources Authority managing director Jerry Garry urged the Government to seriously consider investing in exploration as the life of current mines was projectd to end by 2065.
“There are still potential for exploration in most parts of our country that we haven’t looked at,” he said.
“In the past, we lack the resources to do scoping, and there was also concerns of environment damage when it comes to exploration.”
The MRA has bought a K3 million seismic survey technology from the United States capable of reading and giving accurate data of minerals in the earth.”
He said the decrease in exploration expenses meant that most of the areas in the country with mining potential would not be discovered when the existing mines reached their depleting phase.
“Take for instance the Frieda River project (in East Sepik). It was first discovered in the 1970s, but up until now, it is yet to be given a mining licence.
“We need to start now before the existing mines hit their closing life,” Garry added.
He said the Coronavirus pandemic in 2019 and the Ukraine-Russia war had driven up the cost of doing business, which played a major role in a decrease in exploration activities by major developers.