Newcrest signs land­mark agree­ments

The Australian Mining Review - - NEWS: INTERNATIONAL - EMMA DAVIES PNG/CHILE

NEWCREST Min­ing is ramp­ing up its ac­tiv­i­ties over­seas af­ter en­ter­ing non-bind­ing agree­ments with ex­plo­ration ju­niors in Chile and sign­ing a mem­o­ran­dum of un­der­stand­ing (MOU) with its Wafi-Golpu joint ven­ture part­ner Har­mony Gold and the In­de­pen­dent State of Pa­pua New Guinea.

The Wafi-Golpu MOU es­tab­lished the frame­work for the par­ties to progress the per­mit­ting of the Wafi-Golpu pro­ject as quickly as prac­ti­ca­ble and re-af­firmed the in­ten­tion to achieve grant of a spe­cial min­ing lease by 30 June 2019.

“We have been work­ing con­struc­tively with the Govern­ment of Pa­pua New Guinea to progress per­mit­ting of the pro­ject and re­cently achieved key mile­stones in this process with com­ple­tion of our Fea­si­bil­ity Study Up­date in March 2018 and En­vi­ron­men­tal Im­pact State­ment in June 2018,” Newcrest man­ag­ing di­rec­tor and chief ex­ec­u­tive San­deep Biswas said.

“Get­ting this work started will ben­e­fit Morobe Province, with a cap­i­tal in­jec­tion into the econ­omy and im­proved ac­cess to re­mote parts of the Province.”

The com­pany’s agree­ments in Chile in­cluded an op­tion to farm-in on Mi­ra­sol Re­sources’ Gor­bea high-sul­fi­da­tion ep­ither­mal gold pro­ject; and Cor­ner­stone Cap­i­tal Re­source’s ep­ither­mal gold-sil­ver and por­phyry gold-cop­per de­posits along the in­ter­preted north­ern ex­ten­sion of the Mar­i­cunga mag­matic belt.

Mi­ra­sol chief ex­ec­u­tive Stephen Nano said the com­pany was pleased to again be part­ner­ing with Newcrest to ex­plore its prospec­tive Mio-Pliocene belt projects for district scale gold de­posits.

“Newcrest has al­lo­cated a com­bined $US7.3 mil­lion in sep­a­rate agree­ments, for the ex­plo­ration of Mi­ra­sol’s Gor­bea and Al­ta­zor projects over the next 12 to 18 months.”

Cor­ner­stone Cap­tial Re­sources chief ex­ec­u­tive Brooke Mac­don­ald was also en­thu­si­as­tic to be work­ing with Newcrest.

“Newcrest is one of the largest gold min­ing com­pa­nies in the world, op­er­at­ing mines in Aus­tralia, Pa­pua New Guinea, and In­done­sia, and we are pleased to have en­tered into this agree­ment with them,” Ms Mac­don­ald said.

“Newcrest is also ac­tively ex­plor­ing in Ecuador, where Cor­ner­stone has a first mover ad­van­tage as a prospect gen­er­a­tor in Ecuador since 2005, and sev­eral drill-ready prop­er­ties avail­able for op­tion.”

Im­age:NewcrestMin­ing.

The Wafi-Golpu Joint Ven­ture in Pa­pua New Guinea is ex­pected to be granted a Spe­cial Min­ing Lease by mid-2019.

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