THE Mineral Resources Authority says it is making good progress on its programmes to acquire new geological data and update existing ones to attract mineral investment into the country.
Its geological survey division is into its final phase of acquiring geophysical data over the Western
Papua New Guinea border with Indonesia.
When acquired and processed, the geophysical datasets, comprising magnetic and radiometric data, will provide useful information on possible exploration targets that could be prospective mineralised areas.
These areas could be further explored as possible mineral deposits, by interested investors.
To date, over 20,000 line kilometres of data were acquired with and a further 10,000 line kilometres yet to be acquired. It was expected the programme, which started last September, would take another 12 weeks to complete.
Such surveys and ultimately acquisition of such data is normally left to individual companies to carry out using their own resources and funds.
But with the downturn in commodity prices, mineral exploration activity in the country has almost come to a halt with most exploration companies shelving their exploration projects.
The authority saw the survey as an incentive to companies as it believes that by acquiring data and having the datasets easily accessible would boost investment in the country.
The survey area is strategically located between the huge Ok Tedi porphyry copper deposit and the potentially huge Frieda River project.
Its geological survey division is into its final phase of acquiring geophysical data over the Western
Papua New Guinea border with Indonesia.
When acquired and processed, the geophysical datasets, comprising magnetic and radiometric data, will provide useful information on possible exploration targets that could be prospective mineralised areas.
These areas could be further explored as possible mineral deposits, by interested investors.
To date, over 20,000 line kilometres of data were acquired with and a further 10,000 line kilometres yet to be acquired. It was expected the programme, which started last September, would take another 12 weeks to complete.
Such surveys and ultimately acquisition of such data is normally left to individual companies to carry out using their own resources and funds.
But with the downturn in commodity prices, mineral exploration activity in the country has almost come to a halt with most exploration companies shelving their exploration projects.
The authority saw the survey as an incentive to companies as it believes that by acquiring data and having the datasets easily accessible would boost investment in the country.
The survey area is strategically located between the huge Ok Tedi porphyry copper deposit and the potentially huge Frieda River project.