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Papua New Guinea

New Aiabba Mine Needs Local Investors

By Vasinatta Yama – EMTV News, Mt Hagen

More than ten shareholder certificates were awarded to shareholders of a new gold and copper mine project along the borders of East Sepik and Enga Provinces.
Aiabba Minerals PNG Limited Managing Director, Moses Mondowa, wants to see locals owning and managing mining companies in PNG.
Aiabba Minerals PNG Limited is a new Gold and Copper mine project situated 80 km East of the Freda River and 150 km North West of the Kagamuga International Airport.
It is in its early stages of becoming a fully operated mine.
It is currently owned by the 12 clans of the Malaumanda community, bordering Enga and East Sepik.
Early explorations last year, have found gold and copper deposits.
Mondowa says it has the potential for exploration of major deposits.
He is extending his invitation for Nationals to invest in the company as shareholders, during the seed capital period.
They are focusing on developing or having a five-year production, once they are listed on the Australian Stock Exchange.

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