PNG mining industry set to blossom By ERIC TAPAKAU
PAPUA New Guineas mining industry is set to blossom as the worlds leading miners set their sights on entering the countrys lucrative mineral exploration and mining sector. Worlds leading miners Rio Tinto and Brazilian Vale Inco have expressed interest to come to Papua New Guinea during the recently ended Prospectors and Developers Association of Canada conference. Rio Tinto is the major shareholder of Bougainville Copper Limited, the owner and once operator of the abandoned Panguna copper and gold mine in the Autonomous Region of Bougainville. The announcement by Rio Tinto comes at a time when preparations are underway to start the Bougainville Copper Agreement review and the Panguna landowners are also preparing to hold elections for office bearers for the Panguna Landowners Association.
BOC Price at posting:
49.0¢ Sentiment: ST Buy Disclosure: Held
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