Papua New Guinea Mining News

Harmony logs record quarterly revenue, halves debt

The world's fifth largest gold miner increased production, had stronger cash flows and paid shareholders a dividend in the first quarter of its 2017 financial year.

Harmony Gold bullish on cash flows as it reports increased output in Q3

After losing money for three years to 2015, Harmony is now focused on finding mines able to offset falling production at its South African operations.

US miner goes after rare earths in the Cook Islands

Texas-based Ocean Minerals says the area is also rich in scandium, a key ingredient for making an extremely light, strong, corrosion resistant, heat tolerant and weldable alloy.

Harmony buys out Newcrest stake in Hidden Valley gold mine

Harmony Gold has been looking for new assets to meet its goal of increasing production to 1.5 million ounces over the next three years.

Ownership of Panguna copper-gold mine triggers fresh dispute

Conflict comes as Rio Tinto donated its majority stake in the operation to both Papua New Guinea and the Autonomous Region of Bougainville last month.

China snaps up $4.5bn worth of overseas mining assets in just six months

Most of them have been after existing operations and companies, rather than trying to build mines from scratch.

Rio Tinto sells its Blair Athol coal mine for less than a bus ticket

The Blair Athol mine, closed in 2012, would be the second Australian coal asset in a year to be sold for just A$1.

Rio Tinto exits PNG, gives away copper-gold mine with $51bn in reserves

Decision follows a company review of the asset that was triggered by the Bouganville government’s pressure to restart mining at Panguna or give it up.

Nautilus underwater project in Eastern Pacific richer than thought

Inferred mineral resources for Nautilus' CCZ project went up to 685 million tonnes from 410 million tonnes.

China’s Zijin Mining profit in 2015 hit by gold, base metal prices slump

Net profit for 2015 dropped by almost 30% to $261 million (1.7 billion yuan) from the previous year's $353 million.

Nautilus Seafloor Production Tools arrive in Oman

The three SPTs are scheduled to undergo extensive wet testing at Duqm Port.

European consortium launches Blue Nodules project

On 1 February a European consortium launched a new Horizon 2020 project: Blue Nodules. This project addresses the  challenge of  creating a  viable  and  sustainable value  chain to  retrieve polymetallic nodules from the ocean floor. […]

Nautilus takes delivery of Seafloor Production Tools

Nautilus Minerals Inc. announces that the Solwara 1 Joint Venture (comprising Nautilus 85% and Eda Kopa (Solwara) Limited 15%) has taken delivery of the three Seafloor Production Tools (“SPTs”) from Soil Machine Dynamics Limited’s facility in Newcastle upon Tyne.

Nautilus to test seafloor mining production equipment

The Canadian deep sea miner has signed agreements with United Engineering Services LLC to provide support services associated with wet testing the company’s production and storing equipments.

World's first seafloor miner inks copper sales deal with Chinese customer

The new agreement replaces a previous three-year contract that would have seen Nautilus supplying 1.1 million tonnes of unrefined copper ore to Tongling Nonferrous Metals Group.

Hillary Clinton’s emails reveal pro deep sea miner move after request from son-in-law

The 2012 emails from an investor in Florida-based deep sea mining firm Neptune Minerals Inc. were forwarded to Clinton by her son-in-law and hedge fund partner Marc Mezvinsky.

China’s Zijin hands $298 million to partner Barrick Gold

The cash injection comes from selling half of its interest in the Porgera mining operation to the Chinese group last May.

Deep sea mining: a potential source of renewable resources?

Not metaphorically, but literally – the deep sea is a gold mine, and that is just scratching the surface.

Nautilus Minerals: Vessel dewatering plant detailed design contract awarded

Nautilus Minerals Inc. announces that contract for the detailed design of the Solwara 1 dewatering plant to be used on the Company’s Production Support Vessel has been awarded to the Brisbane office of the DRA Group.

Papua New Guinea’s Ok Tedi copper, gold mine halts production

The company is also slashing 30% of its foreign employees and 15% of the local workforce.

Scientists, environmentalists call for freeze in deep sea mining permits

A group of scientists is asking international authorities to temporarily halt the approval of new underwater mining contracts until further environmental controls are put in place.

NGOs question Nautilus Minerals report on seafloor mining ‘minimum’ impacts

They are calling the company's shareholders “not to pay the price of ignorance” when it comes to investing in the Solwara 1 deep sea copper, gold mining project in Papua New Guinea.

Gold mining still most significant source of income in Africa, Asia — WGC

Mali, Papa New Guinea, Burkina Faso, Guinea, Tanzania, DRC and Mongolia among countries where gold mining contributed the most to their locals economies, says the World Gold Council.

Seafloor copper extraction better than traditional mining — report

The study, commissioned by Nautilus Minerals, shows seabed copper mining may cause less disruptions to the environment and local communities than terrestrial operations.

Nautilus Minerals named to 2015 OTCQX Best 50

Nautilus Minerals Inc. is pleased to announce it has been named to the 2015 OTCQX® Best 50, a ranking of 50 top performing companies traded on the OTCQX Best Marketplace last year.