A locally owned company, Kair Engineering entered into a joint venture with Australian based Corporate Executive Mining.
It was an historical signing on Friday for work to begin onthe first ever gold mine inthe Simbu Province.
It came after 2 years of feasibility study.
After 20 years of operating, local exploration company Kair Engineering Limited has sealedthe deal for more development opportunities inthe Simbu Province.
Kair Engineering is one hundred per cent nationally owned and operated fromthe Simbu Province.
This new partnership with Corporate Executive Mining Limited is a milestone for many good things to come inthe Simbu province.
Directors and shareholders of Corporate Executive Mining Limited from Australia are committed to this 50/50 Joint Venture with Kair Engineering Exploration which is set to create job opportunities for locals as well.
Operating on an exploration Mining license for 2 years, Geologist with Kair Engineering Joe Agua says sampling has been done andthe signing pavesthe way for ground work to commence to buildthe prospect to a project stage.
The signing of this joint venture signifiesthe beginning of a long and productive relationship with Kair andthe people of Papua New Guinea Contributing tothe future development ofthe country.
Sophie Yaruso, National EMTV News