RHG to start with three mining projects

INFLUENTIAL Malaysian forestry giant Rimbunan Hijau Group has applied for three vast exploration licences in Papua New Guinea with its Perth-based partner Siburan Resources, targeting gold and copper opportunities in Morobe, Milne Bay and Central provinces.
RHG to start with three mining projects RHG to start with three mining projects RHG to start with three mining projects RHG to start with three mining projects RHG to start with three mining projects

Outside of being a major forestry player, RHG owns The National newspaper and a considerable commercial property portfolio in PNG and its subsidiary RH Resources has a 70% stake of the joint venture with Siburan (30%).

Out of the three exploration licence applications, Siburan said warden hearings had been completed for the Rossel Island licence (ELA1988) and the Rigo licence (ELA1990).

The Rossel Island project is in Milne Bay province with access either by sea from Misima Island or by air from the PNG mainland.

The ELA on Rossel Island covers 512sq.km, with grades as high as 94.6 grams per tonne gold found through panning.

Previous exploration from Sierra Mining found a copper and zinc anomaly on the eastern end of the island.

Both of these metals were considered as leads for exploring the gold mineralisation at the Misima Island next door.

The Misima mine produced about 3.7 million ounces of gold and 18Moz silver over 14 years.

The Rigo project is about 70km southeast of Port Moresby and the ELA covers 13,555sq.km and is considered prospective for copper porphyry deposits.

The JV also applied for ELA2002 in eastern Morobe province.

Named the Garaina project, it covers 687sq. km, including a large tract of the Owen Stanley fault zone.

Australian Securities Exchange-listed Siburan expects this licence to be granted in the second half of 2012 and believes it is prospective for gold, platinum, copper, zinc and nickel.

Siburan managing director Noel Ong said he was excited the applications were progressing through the grant process.

"These tenements in PNG will result in Siburan having presence in a highly mineralised region of the world which contains world-scale gold and copper mines," he said.

"We are looking forward to commencing exploration on our PNG tenements which have potential for new precious and base metals."

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