Warm welcome for Anglo American

ANGLO AMERICAN has received a warm welcome from the PNG government, with Prime Minister Peter O’Neill meeting executives from the company and partner Highlands Pacific in Port Moresby yesterday.

O'Neill said he was happy to see the execution of the joint venture farm-in agreements for the Star Mountains copper gold project, and looked forward to a lasting working relationship with the global miner.

"Anglo American have demonstrated their confidence in the investment potential of Papua New Guinea and we welcome their participation," he said.

"This is a wise decision for their shareholders and we look forward to an enduring relationship in the decades to come."

PNG Mines Minister Byron Chan echoed O'Neill's comments, saying Anglo American had come into PNG's mining industry at an exciting time, reflected in the granting of mining licences for the Woodlark and Crater Mountain projects and anticipating the submission of feasibility reports for the Frieda River and Wafi-Golpu projects.

"As minister responsible for mining, I congratulate and welcome the entry of Anglo American into PNG and assure you of our commitment to assist both yourself and your PNG partner - Highlands Pacific, in adding value to your project," he said.

"PNG is a proven exploration and mining jurisdiction and your entry into the country is evidence of investor confidence in doing business in the mineral sector."

Head of the Anglo American delegation Andre van den Berg said the company was looking forward to doing business in PNG through their joint venture partner.

Highland Pacific CEO John Gooding said he looked forward to getting exploration underway and the execution of the farm-in agreements was another major step forward.

"Together we can move forward with a defined exploration program that will test the size and grade of these exciting targets," he said.


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