Latest Papua New Guinea News

Kingston Resources has received the first $50 million payment from the sale of its Misima Gold Project, bolstering its balance sheet and enabling a strategic pivot towards expanding its Australian copper operations.

St Barbara Limited has reported significant high-grade gold intercepts from its FY25 drilling program at Simberi Operations, revealing promising sulphide mineralisation beneath existing open pit reserves. With assay results pending for 20 more holes, the company anticipates further resource upgrades.

Gold Mountain Limited reports promising high-grade rare earth element anomalies and new gold targets at its Varzedo Prospect in Brazil, advancing its Down Under Rare Earths Project.

Kingston Resources has fulfilled all regulatory conditions to complete the $95 million sale of its Misima Gold Project to Ok Tedi Mining, unlocking an immediate $50 million payment.

Legacy Minerals' latest Airborne Magneto Tellurics survey at the Drake Project reveals extensive new gold-copper-silver targets, highlighting significant potential for resource expansion and fresh discoveries.

LCL Resources has extended the known gold-copper porphyry mineralisation at its Dada project in Papua New Guinea through new trenching and pit sampling, revealing promising grades and open-ended potential.

Ricegrowers Limited (SunRice) reported a 3.7% rise in profit after tax for FY25 despite a 1.5% decline in revenue, driven by strategic cost savings and product innovation. The company announced a fully franked 50 cent final dividend and reactivated its Dividend Reinvestment Plan.

Augustus Minerals has secured a key position in the Mt Kare Gold Project by acquiring ACM Contract Mining PNG Ltd, positioning itself second-in-line for the exploration license in Papua New Guinea.

Tolu Minerals has launched a AU$15 million exploration campaign deploying seven diamond drill rigs to expand the Tolukuma gold mineralised corridor in Papua New Guinea, aiming to boost production and extend mine life.

Lakes Blue Energy NL has secured $6.5 million through a fully underwritten placement to fund drilling at its Wombat Gas Field in Victoria, aiming to address looming gas supply shortages on Australia's east coast.

St Barbara’s application for early renewal of the Simberi Mining Lease is set for review by Papua New Guinea’s Mining Advisory Council in June, a crucial step toward expanding gold production.

St Barbara Limited updates its FY25 gold production guidance amid temporary mining delays caused by heavy rainfall at Simberi, while maintaining steady cost expectations and financial resilience.