A team fromthe Mineral Resources Authority is in Woodlark Island in Milne Bey Province to conduct awareness on mining exploration and to discuss a MoA on benefits withthe Woodlark Mining Limited.
Woodlark Island is inthe same area as what was previouslythe Misima Mine.
Woodlark Island is a volcanic island inthe Milne Bey Province. This beatutiful island has a population of over three thousand. It is home tothe Kula gold.
Modern exploration on Woodlark Island was initiated in 1973.In 2011, successful drilling inthe Beniavat area was announced. However, progress to date has been slow.
The state team led bythe Mineral Resources Authority is onthe island to conduct awareness on a Memorandum of Agreement with developer Woodlark Exploration Limited andthe people to achieve maximum benefits for the people in future.
The ther state team members includethe Treasury, Labour &Industrial Relations, Environment & Conservation, Petromin, Milne Bey Provincial Government and State Solicitors Office.
The pre-development forum has been held in-light of an application for a mining lease bythe Woodlark Mining Limited.
Discussions will be centred on initial benefit packages, royalties, Equity, Special Support GrantoTax Credit Schemend business spin-offs.
The islanders and its lLeaderssaidthey were happy to gain knowledge on how royalty distribution mechanisms work.