Project proponent seeking partner for alluvial mining project

Business

A PROJECT proponent, Ramu Resource Development Ltd is seeking joint venture partnership in developing an alluvial mining project in Middle Ramu, Madang.
The project, valued at K2.2 million, started in 2010 under EL1755 and operated with initial investor – Australia PNG Minerals Ltd until 2012, according to the Investment Promotion Authority’s (IPA) September newsletter.
In 2013, the project proponent applied for a new exploration license (EL2299) in partnership with Premier Projects (PNG) Ltd.
The project proponent is now seeking a new developer to develop a mechanised alluvial mining project.
All previous exploration information filed with the Minerals Resource Authority indicate high mineralisation deposits in several areas within the mine tenement area.