For Indonesian President Joko Widodo, seeking reelection next year, getting a majority stake in the mine for Indonesia would be a political boon.
Papua New Guinea Mining News
During the term of the contract, Total will be supplying 14 million litres of lubricants to the 6th largest gold mine in the world.
Fresh setback for the company’s Solwara 1 project, expected to be the world’s first seabed gold, copper, silver mine.
Anglo has a 4 per cent stake in Toronto-listed Nautilus.
But according to the updated feasibility study total capital expenditure for the life of Wafi-Golpu mine will fall by about the same amount to $5.5 billion.
The power generation facility that supplies electricity to the Porgera Joint Venture mine experienced significant damage during the earthquake.
Barrick Gold Corp said a power station that supplies its Porgera gold mine had been damaged, while Ok Tedi Mining Ltd said a landslip had blocked a road and damaged pipelines to its copper and gold mine in the Star Mountains.
The Bougainville government has imposed an indefinite moratorium on mining at the controversial Panguna site — once the world's biggest open-pit copper mine.
The Indonesian unit of Freeport-McMoRan Inc has temporarily shut the main supply route to its Papua mine after a shooting incident.
Gold producer says its total gold output from mines fell to 522,917 oz in the quarter ended Sept. 30 from 615,498 oz in the same period a year earlier.
An autonomous region of Papua New Guinea has lifted a ban on mining that has been in place since 1971 - but it will not allow the restart of the controversial Panguna copper mine which has been the source of deadly internal strife.
They have found valuable minerals atop an underwater mountain, which is basically a huge flat-topped mound of some of the scarcest materials on Earth.
Together these giant orebodies contain reserves worth $796 billion at today's gold price.
Canada’s Nautilus Minerals is getting closer to kicking off operations at its Solwara 1 gold, copper and silver project off the coast of Papua Guinea.
The miner attributed the good results to higher metals prices, increased gold and copper output and productivity improvements.
Newcrest's gold production dropped to 614,715 ounces in the quarter ended in December, from 615,498 ounces in the three months immediately prior and 620,691 ounces a year ago.
Company to launch probe into the causes of the illegal sit-in of nearly 48 hours.
This as the creature lays its eggs on the dead stalks of sponges, attached to rocky crusts, which are rich in metals like manganese.
Scientist from Victoria University of Wellington says too little is known about the seafloor communities found in in New Zealand's Exclusive Economic Zone.
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.
Ten gold mines that timed the gold price rally to perfection – Barrick owns four of them.
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.
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 Gold has been looking for new assets to meet its goal of increasing production to 1.5 million ounces over the next three years.
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.