PanAust today announced it had completed the feasibility study on the Frieda River copper and gold project in Papua New Guinea. The project is owned 80% by PanAust and 20% by Highlands Pacific. Highlands Pacific also made an announcement to the Australian Securities Exchange.
The completion of the feasibility study represents an intermediate step towards development of one of the world’s largest copper and gold deposits. The resource is estimated to contain 12 million tonnes of copper and 19 million ounces of gold.
PanAust envisages a multi-stage development that involves an initial project stage that forms the platform for subsequent phases of exploration, Mineral Resource definition and development. There are pathways to expand production rates and extend the mine life.
Frontier (Australia) assisted PanAust in preparation of the feasibility study, and regularly advises clients in the resources sector.
For more information, please contact Marita O’Keeffe at m.okeeffe@frontier-economics.com.au or phone +61 3 9620 4488.
