Hi fellas, You might want to have a read of this. Sorry but it aint good news
Frontier determined to mine Kokoda Track
Article from: AAP
Font size: Decrease Increase
Email article: Email
Print article: Print
By Lloyd Jones
October 30, 2007 12:53pm
AN Australian mining company is determined to dig for gold and copper near Papua New Guinea's Kokoda Track despite moves by Canberra to have it listed as a world heritage site.
Australian Environment Minister Malcolm Turnbull last week announced the Australian Government would provide $A15.9 million to assist in the listing of the track, where diggers fought Japanese troops in 1942.
Prime Minister John Howard opposes any mining near the 96km track, which has become increasingly popular with Australian trekkers in recent years.
But Australia's Frontier Resources Limited is determined to continue mineral exploration, and develop an open-cast pit close to the track to mine an estimated $A1.7 billion worth of gold and copper.
The company's managing director, Peter McNeil, told reporters in Port Moresby he did not believe the track fitted the criteria for world heritage listing.
Mining near the track was an issue for the PNG Government, not Canberra, he said.
"I expect a lot of opposition from the Australian Government, whether it be a re-elected Howard Government or whether it be a new Rudd Government.
"But at the end of the day, they have nothing to do with it."
McNeil said the proposed mine would not damage the track.
After a visit to the proposed site at Mt Kodu, PNG's vice mining minister Ano Pala assured Mr McNeil that the PNG Gwould grant his company exploration licences so mining could begin as early as 2013.
Central Province Governor Alphonse Moroi also backed the mine proposal along with Mt Kodu landowners who see it as an opportunity to gain mining royalties and improve the lives of their people.
Mt Kodu Resource Owners Association spokesman Jack Bani said landowners were looking at buying a plane to carry goods and enable the provision of services that the PNG Government had failed to deliver.
In announcing the Australian funding last week, Mr Turnbull said it would help PNG authorities preserve and maintain the track.
"The Kokoda Track remains an enduring image of our national spirit and, alongside Gallipoli, represents one of the most important landmarks in Australian military history," he said.
"This funding package will ensure that this source of great Australian pride is preserved for generations of Australians to experience in the future."
The PNG Government has said it is too early to be concerned about environmental damage to the track, and PNG has strict compliance processes that will ensure historical and cultural sites are protected.
- Forums
- ASX - By Stock
- extra life for oppies
Hi fellas, You might want to have a read of this. Sorry but it...
-
-
- There are more pages in this discussion • 14 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LNR (ASX) to my watchlist
|
|||||
Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $7.330M |
Open | High | Low | Value | Volume |
0.3¢ | 0.3¢ | 0.3¢ | $1.23K | 409.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
53 | 50616397 | 0.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.3¢ | 1514427 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
52 | 49616397 | 0.002 |
20 | 68225076 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.003 | 1514427 | 4 |
0.004 | 24128352 | 23 |
0.005 | 15312122 | 16 |
0.006 | 12335280 | 15 |
0.007 | 4985802 | 12 |
Last trade - 15.54pm 04/09/2024 (20 minute delay) ? |
Featured News
LNR (ASX) Chart |