Table of Contents
Where is Wafi-Golpu mine?
Morobe Province of Papua New Guinea
The Wafi-Golpu Project is an advanced exploration project located in the Morobe Province of Papua New Guinea, 65 kilometres south-west of Lae City.
Who owns Wafi-Golpu?
Newcrest and Harmony Gold Mining Company Limited (Harmony) each currently own 50% of the Wafi-Golpu Project through the Wafi-Golpu Joint Venture (WGJV).
What type of mine is Wafi?
Underground
Project Contacts:
| Stage | Permitting |
|---|---|
| Mine Type | Underground |
| Commodities | Copper Gold Silver Molybdenum |
| Mining Method | Block caving |
| Processing | Flotation |
Which mine in PNG is now under development?
Lihir Gold Mine, Lihir Island, Papua New Guinea.
What is the biggest mine in PNG?
Since the 1970s, mineral extraction has dominated the national economy. With the exception of the Ok Tedy Mine (copper-gold) almost all of the mining in PNG has been gold mining. The two largest gold mines are the Porgera (Enga Province) and Lihir (New Ireland Province) mines.
Who owns the gold mine PNG?
After months of difficult negotiations, a deal has been forged between the resource-rich Pacific nation and the forces of global capital, giving PNG majority ownership of the mine. Previously, Barrick Niugini enjoyed 95 percent ownership of the mining operation.
How much gold is in a PNG?
Gold Reserves in Papua New Guinea remained unchanged at 1.96 Tonnes in the first quarter of 2022 from 1.96 Tonnes in the fourth quarter of 2021. source: World Gold Council.
How many gold mines does PNG have?
three
Papua New Guinea currently operates three world-class, open pit mines since the Misima gold mine in the Milne Bay Province of Papua New Guinea has now ceased operations. Ok Tedi, Porgera, and Lihir mines and one medium scale underground operation at Tolukuma.
What is the largest mine in Papua New Guinea?
The Porgera Gold Mine is operated by the Porgera Joint Venture (PJV). Porgera Gold Mine is the second largest mine in Papua New Guinea and is regarded as one of the world’s top ten producing gold mines….Porgera Gold Mine.
| Location | |
|---|---|
| Website | Barrick Gold Corp Website |
Where in PNG is gold found?
The Lihir gold mine is located on the island of Lihir, in Papua New Guinea’s (PNG) New Ireland Province, 700km north-east of Port Moresby.
Who owns the mine in Papua New Guinea?
The PNG government owns a 51% share in the mine, while Barrick Niugini Limited, jointly owned by Barrick and Zijin, holds 49% and remains the operator. Barrick and Zijin each previously held a 47.5% stake. Porgera produced nearly 600,000 ounces of gold in 2019 before being put on care and maintenance.
What is the price of raw gold?
This would make a melted down single gram of raw gold worth about $58-$61 per gram. Quality natural nuggets of good size, purity and color will sell easily for about 10-30% over spot (currently $6 to $15 dollars per gram over spot price).
Who owns the Wafi-Golpu project in PNG?
in PNG currently in the permitting phase. Newcrest and Harmony Gold Mining Company Limited (Harmony) each currently own 50% of the Wafi-Golpu Project through the Wafi-Golpu Joint Venture (WGJV).
Where is the Wafi-Golpu project?
The Wafi-Golpu project is located in the eastern Papua New Guinea, approximately 60km south-west of Lae, the capital city of Morobe Province in the north coast region.
Who is the parent company of Wafi Mining Limited?
Wafi Mining Limited and Newcrest PNG 2 Limited, both established under the laws of Papua New Guinea are 50:50 participants in the unincorporated Wafi-Golpu Joint Venture. The ultimate parent company of Wafi Mining Limited is Harmony Gold Mining Company Limited.
Where does Harmony Mining operate in PNG?
In Papua New Guinea, Harmony operates the Hidden Valley open-pit gold and silver mine and has a 50:50 joint venture participating interest with Newcrest Mining Limited in the Wafi-Golpu project, both of which are located in the Morobe Province.