News Events around Morobe
This page will highlight significant events and milestones occurring in the Morobe Province.
August 29 2012, Newcrest Mining Limited announced a significant upgrade to the Ore Reserve estimate for the Golpu copper-gold
deposit. The Golpu deposit forms part of the Wafi-Golpu Project (the Project) located approximately 65 kilometers west
of Lae, in the Morobe Province. The updated Ore Reserve estimate containing 12.4 million ounces of gold and 5.4 million tonnes
of copper. The latest pre-feasibility study confirms Golpu as a world-class deposit with an expected mine life in excess of
25 years.The capital cost is estimated at US$4.8 billion to establish the mine and achieve first commercial production, which
is anticipated around 2019.
- Papua New Guinea's biggest and fastest growing export wharf (terminal)
at Lae is getting a 150-million U-S dollar facelift. The Lae port is the most important port in the country accounting for
60% of the nations trade. The project has been officially launched by the Vice-President of the Asian Development Bank, Lawrence
Greenwood Junior. The A-D-B is backing the project with a 100-million dollar loan.
- Lae to get new fish plant
- A multi-million Kina fish cannery will be built at the Malahang Industrial Centre in Lae, creating new job opportunites
for Papua New Guineans.
- The first phase of a PNG power upgrades for the Yonki power station costing 58 million
Kina is scheduled to be completed by the end of 2012.