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Panaust ltd in frieda river project
The Frieda River Project is a large open cast mine and associated infrastructure in the Western Province of Papua New Guinea. The deposit is a large copper-gold porphyry deposit. The project includes a hydroelectric scheme to provide electricity. and service by the Frieda River Airport. In 2010, the mine had estimated reserves of 14.3 million oz of gold.
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The project was originally majority owned by Xstrata, it is now owned by PanAust Ltd after it was bought from Glencore/Xstrata in 2013
Feasibility studies were underway in 2010 and completed on 19 May 2016, and were reportedly on track at that time for submission to the Government of Papua New Guinea.
Frieda river project to enhance png s prosperity
References
Frieda River Project Wikipedia(Text) CC BY-SA