Name and Location
Wafi-Golpu exploration project, Morobe province, Papua New Guinea.
Client
The project is owned by the Wafi-Golpu unincorporated joint venture (JV) between subsidiaries of Newcrest (50%) and Harmony Gold Mining Company (50%).
Project Description
The Wafi-Golpu project includes the Golpu copper/gold porphyry deposit, the Nambonga copper/gold porphyry deposit and the Wafi high-sulphidation epithermal gold deposit.
The project had mineral resources estimated to contain 28.5-million ounces of gold, 9.1-million tonnes of copper and 50.6-million ounces of silver as at December 31, 2012.
Value
Not stated.
Duration
Not stated.
Latest Developments
Gold major Newcrest is hoping to complete an updated prefeasibility study on its Wafi-Golpu joint venture by the end of 2014.
Newcrest, which published its September quarter production report this week, said work was under way to evaluate access options and reduced capital expenditure development options for Wafi-Golpu.
A 2012 technical PFS confirmed Golpu as a world-class deposit, with cash costs expected to be at the bottom of the industry curve and a mine life of more than 20 years.
Subject to the completion of the updated PFS, Newcrest expects Golpu will be mined using a block cave bulk underground mining method, with an indicative processing plant capacity of between 20-million tonnes a year to 30-million tonnes a year.
Key Contracts and Suppliers
WorleyParsonsTWP (feasibility study).
On Budget and on Time?
None stated.
Contact Details for Project Information
Newcrest, tel +61 3 9522 5333, fax +61 3 9525 2996 or email corporateaffairs@newcrest.com.au.
Harmony Gold Mining Company investor relations manager Henrika Basterfield, tel +27 11 411 2314 or
email henrika@harmony.co.za.