Progress of mines impresses O’Neill

Business, Normal

The National, Thursday 2nd May 2013

 PRIME Minister Peter O’Neill has been given updates on the developments of the Newcrest Lihir gold operations and the Yandera project in Madang.

He met with the chief executive officers of Newcrest Mining Ltd Greg Robinson and Marengo Mining Ltd’s Les Emery on Tuesday and was briefed on their progress in the country.

Robinson briefed the prime minister on its Lihir gold operations and development of the Wafi-Golpu mine.

“Newcrest has ensured that it fulfills its two main goals, which are reliability and predictability, in terms of being consistent in minerals production,” O’Neill said.

He said Newcrest was also expecting government assistance in infrastructure development in the Wafi-Golpu area.

Emery and his board also briefed O’Neill on the progress of the Yandera mine project in Madang.

O’Neill extended the government’s appreciation of the company’s efforts and investment in the country.

“The Yandera project is in its advanced stages of exploration and feasibility study. 

“After the feasibility phase in 2014, the company will be seeking government approval, specifically on environmental permits and mining lease agreements, before they can commence the export of their first shipment in 2016 to overseas markets,” O’Neill said.