Tolukuma Gold Mine is 100% owned bythe Petromin PNG Holdings limited.
Mr.Inguba in a news conference Thursday afternoon clariflied Petromin’s position onthe Tolukuma Gold Minersaying that Petromin still legally exists and is in control ofthe affairs ofthe mine.
The recent crisis atthe mine is now under control and all operations have been restored.
Petromin boughtthe mine in 2008 and to date has spent over K40m to upgrade and rehabilitatethe mine. He said recent reports of Petromin runningthe mine down is untrue.
Several employees ofthe mine have been terminated onthe grounds of non-compliance of safety regulations which he said was a management decision.
He clariflied his appointment asthe new CEO ofthe mine saying it is an integral part ofthe Tolukuma management team.