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Article: PAPUA NEW GUINEA: Construction plans for proposed $40,000,000 gold mine, HIGHLANDS PACIFIC LTD. [Papua New Guinea] - Order #: 119303.
- Article from:
- WWP-Business Opportunities in Asia & the Pacific
- Article date:
- November 1, 2003
CopyrightCOPYRIGHT 2003 Worldwide Projects, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PROJECT OVERVIEW:
The local HIGHLANDS PACIFIC LTD. recently gave conditional approval for the development of its Kainantu gold mine subject to the conclusion of agreements with landowner groups and the finalization of a funding package. The property located in the Eastern Highlands of Papua New Guinea has estimated reserves amounting to some 715,000 tons with an average grading of 21.8 gr per ton of ore.
The development of the mine is expected to take about 15 months and enable the annual production of 11,500 onces of gold over a 4.5-year mine life. Operating plans envision using simple floatation technology to enable the production of sulphide ...
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