3 Apr 2012

Australian mining company expands operations in PNG

10:28 am on 3 April 2012

An Australian mining company Siburan Resources is expanding its operations in Papua New Guinea.

The National newspaper reports Siburan has been granted two exploration licences for a joint venture with RH Resources, in which it will have a 30 percent stake.

RH Resources, the majority stakeholder, is associated with Malaysia's Rimbunan Hijau Group, one of Malaysia's largest multi-industry companies.

The licences have paved the way for Siburan to mine at Garaina, Morobe province and Rigo, Central province.

The Garaina project, which covers 697 square kilometres, is believed to be prospective for a range of precious metals, including gold and platinum, and for base metals, copper, zinc and nickel.

The Rigo project which covers 1,355 square kilometres, is believed to be prospective for porphyry style copper deposits.