17 May 2011

PNG company signs deal with Australian company Everest Remediation Limited

10:59 am on 17 May 2011

The Papua New Guinea company Petromin PNG Holdings Limited has signed a deal with the Australian company, Everest Remediation Limited to conduct a feasibility study of the Tolukuma Gold Mine in Central Province.

The paper, the Post Courier says the agreement was signed in Port Moresby on Friday.

The PNG Minister for Mining John Pundari, says under the agreement, Everest would carry out a feasibility study in the next six months, to assess the commercial benefits that could be derived from treating the waste at Tolukuma.

Mr Pundari says Everest conducted an initial inspection at the gold mine to assess the feasibility of building a treatment plant at the mine, which has accumulated more than 21 million tonnes of mine overburden and tailings over the past 20 years.

He says Everest owns highly specialised world class technology, and its is confident that once waste is treated and used for purposes such as road construction, there would be no adverse environmental implications.