The Provincial Government of West New Britain is committed to fostering a transparent, inclusive, and sustainable approach to mining development. Below is an update on the Simuku and Mt Nakru projects, highlighting our role in ensuring that mining activities benefit the province and respect local communities and resources:
Project Status Overview
- Ownership & Partnerships
The Simuku (EL 2379) and Mt Nakru (EL 1043) projects are held in partnership by Coppermoly, with a 72% interest in both tenements, reflecting a significant commitment to exploration and potential development in our province Ministry of Foreign Affairs Korea+3Listcorp+3pngbusinessnews.com+3. - Exploration Activity
Fieldwork, such as drilling and geophysical surveys, commenced in previous years (e.g., diamond core drilling at Simuku, VTEM surveys at Simuku, and resource-defining drilling at Nakru) Ministry of Foreign Affairs Koreageotech.ca.
However, exploration efforts were deferred in 2020 due to COVID‑19 travel restrictions, although the proponent maintained sufficient funding to resume once feasible pngbusinessnews.comThe National. - Economic Potential
Early-stage assessments, including a 2009 CMS for Simuku, indicate strong potential for development. The study projected benefits such as a 10‑year open‑pit operation with favorable cashflow dynamics beginning in year three under modeled cost and price scenarios