In a colourful ceremony last Saturday, Mining Minister Byron Chan, on behalf of the State, presented the licence (EL2368) to Governor Julie Soso who later presented it to Giopa Holdings Ltd financier Obed Pupune.
With the exploration licence, GHL will search for mineral deposits in the mountains between Eastern Highlands and Madang. An estimated 5000-plus people converged on the National Park in Goroka, Eastern Highlands, last Saturday, to witness the presentation of licence.
The licence will enable the company to look for mineral deposits in a landmass of 85 square kilometres.
GHL is formed by 59 landowner groups in Eastern Highlands.
Chan acknowledged the Kinoku Resources Owners Association for its perseverance and struggle for the last seven years to set up the company and eventually, acquiring a licence.
“Papua New Guinea is like an island of gold floating on a sea of oil but the majority of the people are still living in poverty,” Chan said.