Wednesday, 3 February 2016

Mining Prospects in Papua New Guinea

After a decade of increasing mineral reconnaissance activity, PNG mineral sector appears to have leaked in 2012.

In contrast to the period antecedent to the recent decade has been braced. PNG resource sector has divulged remarkable resilience. In 2002, there was a widespread expectation that much of PNG’s resource sector.

Legislative changes in 2003 that made the mineral sector more tantalizing to investors. First for PNG export of nickel and cobalt commenced in March, 2012 with lateritic nickel venture expected to ramp up to full design capacity of 31,150 tons of contained nickel and 3,300 tons of cobalt in 2016.

PNG has been successful in tantalizing a broad cross section of mineral companies arbitrating a large number of junior companies as well as a group of larger international companies, inclusive of world leaders. This is a healthy situation for the industry as the juniors are often the most bellicose explorers, but it is the larger players that underwrite the joint ventures that provide exploration funds and hereafter a great balance sheet for any possible developments. 


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