30.7 C
Port Moresby
October 25, 2021
News

LO’s call for Indochine to mine Mt Kare

The Mt Kare Gold project is a long way away from producing its first Gold bar butthe people believe this may happen in 2015.

The landowners are optimisticthe government will grant a license to Australian companyIndochine to begin mining operation.Indochine was inthe area since June 2011 and has already commenced drilling.

Mt Kare is an alluvial gold mine located 15km from Pogera Mine-one ofthe world largest gold mine. Bet unlike Pogera gold Mine, Mt Kare is a long way behind in operation and production.

It’s long and colorful history marred by violence. The people now linethe streams panning for gold earning K2000 to K3000 daily. Betthey are rich yet poor.

The bulk ofthe population are uneducated andthe area underdeveloped.

They are calling onthe government to issue license to Australian mining companyIndochine for mining operation to begin in 2015.

The company currently based inthe area has already completed a pre-feasibility study costing K65m.

From initial assessments Mt Kare is expected to produce 100 000 to 160 000 ounces of gold per annum.In monetary terms about AUS$200 m a year while AUS$2 billion in eight years.

Governor Peter Ipatas is pleased withthe progress ofthe project and assuredIndochine of his governments backing.

Mickey Kavera, National EMTV News

https://youtube.com/watch?v=J3FHuPVUJRk%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

Related posts

Basketball: Exodus beat Saints

EMTV Online

In Moresby Tonight – Episode 28, 2014

EMTV Online

Labour Dep’t To Host Soccer Competition

EMTV Online
error: Content is protected !!