PNG has mega Mineral Reserves from Wafi and Frieda River Mines

Papua New Guinea's  two oldest and largest mines may face closure within the next ten years.
This shocking remark was made by the incoming PNG Managing director or Mineral Resources Authority Jerry Garry last Friday.
Mr Jerry was speaking on MRA’s visions and goals under his leadership when he stated that these two mines will be comfortably replaced by Wafi-Golpu and Frieda River Cu-Au deposits.
However he said that when these deposits, goes into production, in about five years from now, PNG will not have any mega mineral reserves remaining.
He said what is more challenging is the fact that almost , if not, all the major mineral potential deposits located on the surface or near-sub surface; have already been tested sufficiently without success.
“Thus, we are now confronted with the huge challenge of securing our dependence on the mining sector for the future,” he said.
He outlined that in the medium term MRA under his leadership will continue to the various projects already initiated by various divisions, develop other programs deemed fit and necessary and provide short courses, training’s and job secondment for his employees.
For the long term goals he said they will work towards re-aligning MRA’s dreams and aspirations for the mining with the MTDPIII (2018-2022) and vision 2050.
Mr Garry pointed out that MRA’s existence as an institution will not last without an operating mine to regulate, or exploration tenements.
“This is our core business. Whilst MTPIII encourages diversification and shift towards renewal resources such as Agriculture of economic growth, our dependence on the mining sector, will remain in the foreseeable millennium, (100 years),”he added.
Among other long term goals, the three obvious are human capital which he explained that the mining industry will continue at the very least in the next 100 years.
“At the very heart of our business we invest in people, through various capacity building programs to ensure, we have qualified, experienced and well-trained people to regulate and promote our mining industry.
“Even more critical is the lead time from discovery to commissioning.
Given the fact, there will no mega reserves remaining, (after granting of WG & FR, a huge lead time of 10 years, and almost depletion of surface to near sub- surface our dependence on the mining industry will be facing extinction and requires urgent interventions for resuscitations now,” he said.  Post Courier

Next :

Landowners shut down Billion dollar Gold and Copper Mine in Papua New Guinea

Previous Post Next Post