Article: PAPUA NEW GUINEA: Construction plans for proposed $40,000,000 gold mine, HIGHLANDS PACIFIC LTD. [Papua New Guinea] - Order #: 119303.

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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