PNGSDP has responded to speculation that it may
consider buying a major stake of the Xstrata Copper-led Frieda River
project in Papua New Guinea by saying no such move is part of its plan.
 |
| The Ok Tedi mine, photo taken by Cindy Brown. |
PNGSDP
recently acquired a 13.04% stake of Highlands Pacific Limited.
Highlands owns 18.18% of Frieda River and 100% of the Star Mountains
copper-gold project which has prospects OTML considers “very promising”.
PNGSDP owns 63.4% of Ok Tedi while the PNG government owns the
remaining stake (36.6%).
Although acknowledging the “potential synergies” between Ok Tedi and Frieda River, a PNGSDP spokesperson has dismissed PNGIndustryNews.net’s report that it may consider buying a stake in the mine from Xstrata.
Although acknowledging the “potential synergies” between Ok Tedi and Frieda River, a PNGSDP spokesperson has dismissed PNGIndustryNews.net’s report that it may consider buying a stake in the mine from Xstrata.
No comments:
Post a Comment