The district administration of Bulolo is venturing into mining by directly involving as a big player in the shareholding stakes.
The Bulolo District Development Authority has been granted two mining exploration licenses and is now holding talks to engage two overseas mining companies to partner it.
Bulolo MP and Deputy Opposition Leader Sam Basil, says they want to benefit more from their mineral resources and sees this as a good opportunity to maximize their benefits under the enabling powers of the authority to do business.
He says, Wau and Bulolo towns have not changed a decade on since the Hidden Valley mine began operation.
Mr. Basil says this is because its revenues are shared between the developer, the national and provincial governments, leaving the electorate with nothing.
Basil says being a mining area, his district government wants to exploit their own wealth by taking a bigger shareholder stake in the venture.
The two licenses covers exploration in Bulldog and Waria.
The Bulolo District Development Authority has been granted two mining exploration licenses and is now holding talks to engage two overseas mining companies to partner it.
Bulolo MP and Deputy Opposition Leader Sam Basil, says they want to benefit more from their mineral resources and sees this as a good opportunity to maximize their benefits under the enabling powers of the authority to do business.
He says, Wau and Bulolo towns have not changed a decade on since the Hidden Valley mine began operation.
Mr. Basil says this is because its revenues are shared between the developer, the national and provincial governments, leaving the electorate with nothing.
Basil says being a mining area, his district government wants to exploit their own wealth by taking a bigger shareholder stake in the venture.
The two licenses covers exploration in Bulldog and Waria.
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Mining News