Frieda River Project

The Frieda River Project is a large open cast mine and associated infrastructure in the Sandaun and East Sepik Provinces of Papua New Guinea. The mine is located along a tributary of the Sepik River. The deposit is a large copper-gold porphyry deposit.[1] The project includes a hydroelectric scheme to provide electricity.[2] and service by the Frieda River Airport. In 2010, the mine had estimated reserves of 14.3 million oz of gold.[3]

Frieda River mine
Location
Sandaun and East Sepik Provinces
CountryPapua New Guinea
Production
ProductsGold Copper

The project was originally majority owned by Xstrata.[4] It is now owned by PanAust Ltd after it was bought from Glencore/Xstrata in 2013.[5] PanAust is "an Australian incorporated company" owned by Guangdong Rising H.K. Limited, "a wholly owned subsidiary of Guangdong Rising Assets Management Co. Ltd" which is a "a Chinese state-owned company" in Guangdong Province, China.[6]

Feasibility studies were underway in 2010[7] and completed on 19 May 2016, and were reportedly on track at that time for submission to the Government of Papua New Guinea.

There is enormous concern in Papua New Guinea and elsewhere about the potential for environmental damage to the Sepik River from the mine.[8]

See also

References
  1. "Xstrata says revised resource estimate confirms Frieda River's potential as a very significant copper-gold project - Proactiveinvestors (UK)". Retrieved 2010-11-28.
  2. "PNGIndustryNews.net + Frieda a standout: Highlands Pacific". Retrieved 2010-11-28.
  3. "Terrestrial mining and mineral resources of the Pacific Islands Region" (PDF). sopac.org. 2013. Archived from the original (PDF) on 2013-10-25. Retrieved 2013-06-21.
  4. Tasker, Sarah-Jane (2010-11-27). "Xstrata invests $125m in PNG". The Australian. Retrieved 2010-11-28.
  5. https://www.bloomberg.com/news/2013-10-31/panaust-buys-glencore-stake-in-frieda-river-copper-project.html
  6. https://panaust.com.au/company-profile
  7. "Mining Journal - Xstrata approves Frieda funding". Retrieved 2010-11-28.
  8. https://ramumine.wordpress.com/tag/frieda-river-mine/; https://www.abc.net.au/news/2016-06-01/first-mine-in-png-sepik-region-worries-environmentalists/7467984

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