A joint venture partnership is needed to kick start an alluvial mining project with huge potential in mineral deposits and Liquefied Natural Gas (LNG) reserves.Situated in Madang Province, the Alluvial (Merchanized) Mining Project is located in the Middle Ramu District covering roughly 2,230 square kilometres.
According to the Investment Promotion Authority’s (IPA) e-opportunity newsletter, the project is being promoted by Ramu Resources Development Limited, a registered company representing 12 landowner clans within the project area.
The company seeks a joint venture partnership to take the Alluvial (Merchanized) Mining Project off the ground.
Mineral explorations undertaken within the Exploration Lease (EL) area in 2010 and 2013 indicate gold to be the major resource tenement,
There are also significant deposits of copper and nickel, and silver, platinum and cobalt.
The area is also predicted to contain a significant amount of LNG reserves.
K2.2 million is needed to kick start the project with K200,000 towards initial exploration and K2 million to facilitate a two-year term exploration with intent to set up alluvial merchanize mining.
Landowners in the area have also agreed to selective logging of various hardwood trees including New Guinea Rosewood, Kwila and Taun being the main species.
Interested individuals or companies are to contact Benny Limbe or Kamis Yalakun for further information. They can be reached on email bennylimbe@gmail. com or Kamis Yalakun (Acting Manager – Investment Promotion Unit, IPA, Tel: 308 4531 and email kyalakun@ipa.gov.pg.
The potential development of the Ramu Alluvial (Merchanized) Mining Project joins the current operation of the Ramu Nickle and Cobalt mine in Madang.
The mineral deposits and gas reserves found in the Middle Ramu District are located within the New Guinea Thrust Belt. Source: LOOP PNG / Pacific Mining Watch