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Mining In Papua New Guinea
Mining in Papua New Guinea is an important part of the Papua New Guinea economy. History Up until 1970, there was little mineral extraction in Papua New Guinea. 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. In 2009, the Hidden Valley gold and silver mine (Morobe Province) commenced production. 2010 will see the start of production from the Ramu nickel-cobalt mine. All the mining activity that has taken place in the country since 1970 has produced approximately 5 million tonnes of copper between 1970 and 2007. The country produced 202,277 t of copper in 2003 compared to 211,315 in 2002, all of which was produced by the Ok Tedi Mine the most active mine in the country. The mine reported that 29.32 Mt of ore was mined (approximately 240,000 t/d mat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lihir Gold
Lihir Gold Limited was a gold mining company with operations in Papua New Guinea, Australia and West Africa. The company, incorporated in Papua New Guinea in June 1995, and named Lihir as its first project was to raise capital to build the Lihir Island gold mine was merged with Newcrest at the end of August 2010 (last day for trading of Lihir Gold shares was August 30, 2010). Australian economist Ross Garnaut Ross Gregory Garnaut (born 28 July 1946, Perth) is an Australian economist, currently serving as a vice-chancellor's fellow and professorial fellow of economics at the University of Melbourne. He is the author of numerous publications in schol ... served as Lihir's chairman from 1995 to 2010. Merger talks were first made known in April 2010, with an announcement by Newcrest. On August 23, 2010 the A$9.5 billion takeover offer by Newcrest was approved after 99.86% of Lihir Gold Shareholders voted in favour of it. The takeover received national court of Papua New Guinea ap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cash Crops
A cash crop or profit crop is an agricultural crop which is grown to sell for profit. It is typically purchased by parties separate from a farm. The term is used to differentiate marketed crops from staple crop (or "subsistence crop") in subsistence agriculture, which are those fed to the producer's own livestock or grown as food for the producer's family. In earlier times, cash crops were usually only a small (but vital) part of a farm's total yield, while today, especially in developed countries and among smallholders almost all crops are mainly grown for revenue. In the least developed countries, cash crops are usually crops which attract demand in more developed nations, and hence have some export value. Prices for major cash crops are set in international trade markets with global scope, with some local variation (termed as "basis") based on freight costs and local supply and demand balance. A consequence of this is that a nation, region, or individual producer relying o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Artisanal Mining
An artisanal miner or small-scale miner (ASM) is a subsistence miner who is not officially employed by a mining company, but works independently, mining minerals using their own resources, usually by hand. Small-scale mining includes enterprises or individuals that employ workers for mining, but generally still using manually-intensive methods, working with hand tools. Artisanal miners often undertake the activity of mining seasonally – for example crops are planted in the rainy season, and mining is pursued in the dry season. However, they also frequently travel to mining areas and work year-round. There are four broad types of ASM: permanent artisanal mining, seasonal (annually migrating during idle agriculture periods), rush-type (massive migration, pulled often by commodity price jumps), and shock-push (poverty-drive, following conflict or natural disasters). ASM is an important socio-economic sector for the rural poor in many developing nations, many of whom have few ot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barrick Gold
Barrick Gold Corporation is a mining company that produces gold and copper with 16 operating sites in 13 countries. It is headquartered in Toronto, Ontario, Canada. It has mining operations in Argentina, Canada, Chile, Côte d'Ivoire, Democratic Republic of the Congo, Dominican Republic, Mali, Papua New Guinea, Saudi Arabia, Tanzania, the United States and Zambia. In 2019, it produced 5.5 million ounces of gold at all-in sustaining costs of $894/ounce and 432 million pounds of copper at all-in sustaining costs of $2.52/pound. the company had 71 million ounces of proven and probable gold reserves. Barrick has met or beaten market consensus on its financial and operating results for eleven consecutive quarters as of Q3 2021. Barrick had been the world's largest gold mining company until Newmont Corporation acquired Goldcorp in 2019. Barrick expects to produce between 4.6 and five million ounces of gold and between 440 and 500 million pounds of copper in 2020. Chief executive Ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Orogen Minerals Ltd
An orogenic belt, or orogen, is a zone of Earth's crust affected by orogeny. An orogenic belt develops when a continental plate crumples and is uplifted to form one or more mountain ranges; this involves a series of geological processes collectively called ''orogenesis''. Overview Orogeny typically produces ''orogenic belts'', which are elongated regions of deformation bordering continental cratons. Young orogenic belts, in which subduction is still taking place, are characterized by frequent volcanic activity and earthquakes. Older orogenic belts are typically deeply eroded to expose displaced and deformed strata. These are often highly metamorphosed and include vast bodies of intrusive igneous rock called batholiths. File:Active Margin.svg, Subduction of an oceanic plate beneath a continental plate to form an accretionary orogen. (example: the Andes) File:Continental-continental convergence Fig21contcont.gif, Continental collision of two continental plates to form a collision ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Placer Dome Inc
Placer Dome Inc. was a large mining company specializing in gold and other precious metals, with corporate headquarters in Vancouver, British Columbia, Canada. In August 2005, the company had interests in 16 gold mining operations in 7 countries; it had a market capitalization of $6.7 billion USD (on June 30, 2005). For the year 2004, it had sales of $1,888 million, net earnings of $284 million, and cash from operations of US$376 million. The company was purchased by Barrick Gold in 2006, and was assimilated into Barrick. History Placer Dome was formed in Vancouver in 1987, by amalgamating Placer Development Ltd. of Vancouver (founded in British Columbia in 1926), Dome Mines Limited of Toronto (founded in Ontario in 1910), and Campbell Red Lake Mines Ltd. of Toronto (founded in Ontario in 1944). ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misima Mine
The Misima mine was a mid-sized gold mine in Papua New Guinea that was operated from 1989 to 2004 by Placer Dome. The mine is located in the south-east of the country in Milne Bay Province. One estimate of the remaining resource is 5 million oz of gold Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile met .... References {{DEFAULTSORT:Misima Mine Gold mines in Papua New Guinea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misima Island
Misima (formerly called St. Aignan) is a volcanic island in the northwest of Louisiade Archipelago within Milne Bay Province of Papua New Guinea. History Misima Island was inhabited by Austronesians since about 1500 BC. The island was sighted in 1768 by French captain Louis Antoine de Bougainville and explored 1793 by French explorer Antoine Bruni d'Entrecasteaux. Misima island owes its name to Élisabeth-Paul-Édouard de Rossel, which was a lieutenant of the Counter admiral Antoine Bruny d'Entrecasteaux during his journey of scientific exploration. In 1888 the British Empire annexed Misima Island, and it became part of British New Guinea (since 1904 - the Territory of Papua administered by Australia). Gold was discovered on Misima late in 1888. By March 1889, eighty men were on the island digging for gold, and a storekeeper had set up a business. Since 1975, Misima belongs to the independent state of Papua New Guinea. A gold and silver mine was opened on the island in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fox Business
Fox Business (officially known as Fox Business Network, or FBN) is an American business news channel and website publication owned by the Fox News Media division of Fox Corporation. The channel broadcasts primarily from studios at 1211 Avenue of the Americas in Midtown Manhattan. Launched on October 15, 2007, the network features trading day coverage and a nightly lineup of opinion-based talk shows. Day-to-day operations are run by Kevin Magee, executive vice president of Fox News; Neil Cavuto is the vice president and managing editor for the network and business news operation overall. As of February 2015, Fox Business Network is available to approximately 74,224,000 pay television households (63.8% of households with television) in the United States. History News Corporation chairman Rupert Murdoch confirmed the launch at his keynote address at the 2007 McGraw-Hill Media Summit on February 8, 2007. Murdoch had publicly stated that if News Corporation's purchase of ''The Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ross Garnaut
Ross Gregory Garnaut (born 28 July 1946, Perth) is an Australian economist, currently serving as a vice-chancellor's fellow and professorial fellow of economics at the University of Melbourne. He is the author of numerous publications in scholarly journals on international economics, public finance and economic development, particularly in relation to East Asia and the Southwest Pacific. Throughout his career Garnaut held a number of influential political and economic positions as: senior economic adviser to Prime Minister Bob Hawke (1983–85), Australia's ambassador to China (1985–88), chairman of the Primary Industry Bank of Australia (1989–94), chairman of BankWest (1988–95), head of division in the Papua New Guinea Department of Finance (1975–76) and chairman of Lihir Gold. On 30 April 2007 the state and territory governments of Australia, at the request of Kevin Rudd, then leader of the Australian Labor Party and Leader of the Opposition, appointed Garnaut to exa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
