Nautilus Minerals has announced that a shipbuilding contract between contractor Marine Assets Corporation (MAC) and shipyard Fujian Mawei Shipbuilding has been rescinded.
Nautilus Minerals has entered a $US34 million ($45 million) agreement with lender Deep Sea Mining Finance for deep sea mining development in Papua New Guinea.
The PNG LNG project in the Highlands of Papua New Guinea, damaged by a powerful earthquake in late February, has now resumed normal production according to project co-venturers Santos and ExxonMobil.
Gold miner St Barbara has released its third quarter (Q3) results, posting an overall steady performance, with no debts and improved production guidance, but a slight dip in gold production when compared with previous quarters.
Arbitrator Richard Chesterman QC has made a first stage decision in the dispute between Papua New Guinea-focused Highlands Pacific and PanAust over the former’s 20 per cent interest in the Frieda River joint venture. PanAust, a subsidiary of China’s Guangdong Rising Assets Management (GRAM), entered into a JV agreement with Highlands over the Frieda River copper-gold … Continue reading Arbitrator sides with PanAust in first stage of Highlands Pacific proceedings
Landowners in Bougainville, an autonomous region of Papua New Guinea, have expressed backing for an RTG Mining-led consortium to take over the abandoned Panguna mine instead of Bougainville Copper (BCL).
Nautilus Minerals’ long-in-development Solwara 1 deep sea mining project, located in offshore Papua New Guinea, has fond itself the topic of local legal action against the PNG Government.
Deep-sea mining has a storied history; people have been attempting to tap the mineral potential of the Earth’s oceans for decades, with mixed results. As far back as the 1960s, interested parties have explored the concept with research vessels; the discovery of hydrothermal vents, which spew mineral-rich deposits from fissures in the earth’s surface.
Santos has signed an agreement to farm-in for a 20 per cent interest in a Papua New Guinea exploration licence from both ExxonMobil and Oil Search.
Papua New Guinea (PNG) has given its share in the Panguna copper gold mine to the people of Bougainville in a historic move by the parliament.
Rio Tinto has given its 53.8 per cent share in Bougainville Copper (BCL) to an independent trustee, to allow Bougainville residents greater input into Panguna’s future.
Newcrest has reported the death of a worker at the Hidden Valley joint venture in Papua New Guinea over the weekend.
Newcrest was forced to shut down its Lihir gold mine in Papua New Guinea over the weekend after “illegal actions” by local community members.
A new bill passed by the Bougainville parliament has completed the drawdown of mining powers from the PNG national government to the autonomous region.
Poor mining performance and delays to ramping up the new processing circuit have been cited as reasons for a modest March quarter at Simberi gold mine in Papua New Guinea.
Santos have announced a record sales revenue of $1.1 billion for the fourth quarter of 2013 with the result driven by the company’s highest oil production in six years, strong oil prices and higher third party sales volumes.
At least three miners have been killed after a confrontation broke out at the Porgera gold mine in Papua New Guinea.
GlencoreXstrata agreed on Friday to offload its 80 per cent stake in the undeveloped Frieda River mine in Papua New Guinea to Australian miner PanAust.