THE K92 Mining Inc says an evaluation of the underground vandalism reported last month revealed only minor damage to underground equipment and infrastructure.
The company in a statement said equipment damage onsite as described last month was limited to two low-profile trucks, a small loader/telehandler and surface infrastructure with a total estimated value of less than $US1.4 million (K4.38m).
“With respect to the damage to this equipment, it is in the process of working with its insurer and taking appropriate claim action based on these policies.”
The company said a third low-profile truck was due to arrive on Sept 30. On site, the company has a Volvo 30 tonne ADT (articulated dump truck) designed to go underground to pick up mined material.
There are two 35-tonne ADT’s that can tram on surface.
K92 acknowledged the work and goodwill relating to the restart of mining, processing and drilling operations by Mining Minister Johnson Tuke, the Mineral Resource Authority under managing director Philip Samar, and representatives of the Eastern Highlands Provincial and Kainantu Local governments.
K92 chief executive John Lewins said: “This isolated but unfortunate incident has detracted attention from the significant opportunity presented within this project to all stakeholders.
“Fortunately the damage, while not insignificant, was minor in relation to the project as a whole, and we look forward to recommencing operations.
“Exploration drilling to follow up on the recently announced Kora Deposit extension discovery is ready to start and mine production from onsite is targeted to recommence shortly. We will provide an operational update next week.”
The company in a statement said equipment damage onsite as described last month was limited to two low-profile trucks, a small loader/telehandler and surface infrastructure with a total estimated value of less than $US1.4 million (K4.38m).
“With respect to the damage to this equipment, it is in the process of working with its insurer and taking appropriate claim action based on these policies.”
The company said a third low-profile truck was due to arrive on Sept 30. On site, the company has a Volvo 30 tonne ADT (articulated dump truck) designed to go underground to pick up mined material.
There are two 35-tonne ADT’s that can tram on surface.
K92 acknowledged the work and goodwill relating to the restart of mining, processing and drilling operations by Mining Minister Johnson Tuke, the Mineral Resource Authority under managing director Philip Samar, and representatives of the Eastern Highlands Provincial and Kainantu Local governments.
K92 chief executive John Lewins said: “This isolated but unfortunate incident has detracted attention from the significant opportunity presented within this project to all stakeholders.
“Fortunately the damage, while not insignificant, was minor in relation to the project as a whole, and we look forward to recommencing operations.
“Exploration drilling to follow up on the recently announced Kora Deposit extension discovery is ready to start and mine production from onsite is targeted to recommence shortly. We will provide an operational update next week.”