MRA data for foreign investors

FOREIGN investors in the mining sector can now have direct access to mineral data which is now available with the Mineral Resources Authority (MRA).
The data from “Airborne geophysical survey and the geological mapping and mineral potential assessment (Geomap) of the PNG highlands” is contained in disks and selling at US$5,000 (about K14,000) each.
According to MRA managing director Kepas Wali the Geomap survey projects are part of the mining sector support programme (MSSP) with a total European Union (EU) funding of K178 million.
He said one of the objectives of the MSSP was to increase foreign investment in PNG’s mining sector.
He said this during the launch of the mineral data, which also coincided with the opening of a new thin-section laboratory equipped with new tools purchased costing about K1.5 million.
The laboratory is at the Mining Department office at Konedobu, Port Moresby.
The results of the laboratory will contribute to the development of geological and geochemical maps providing information that unlocks the hidden mineral wealth of PNG.
Geomap project manager Dr Fritz Bandelow said the data set the result of the collection of geophysical data using helicopter-borne state-of-the-art instrument over the Highlands region.
Dr Bandelow said data had more than 5,000 stream sediments sample collected from the same area which were analysed with regards to 48 chemical elements.
He said the geochemical data covered an area of about 40,000sq km from Eastern Highlands to Enga and parts of Southern Highlands.
Vice-Minister for Mines Ano Pala and head of the EU Ambassador Aldo Dell’ Ariccia jointly officiated at the launch last Friday.
Mr Pala said the mineral sector was a key component to PNG’s economy.
He particularly made reference to Central Bank’s Economic Bulletin for the September quarter last year noting that total mineral exports amounted to K2.34 billion making up 61.2 % of total exports.
Geomap allows producing extremely thin sections of rocks which can be microscopically examined to determine the mineral components.