Alluvial gold and silver generates revenue of over K300 million a year.
The majority of this goes directly to local miners, their families and the community.
Currently, the Mineral Resources Authority is in its’ second phase in developing a document for the upcoming PNG Alluvial Mining Convention in September.
Mineral Resources Authority, or MRA, hopes to elevate the profile of alluvial mining or small-scale mining through the convention, to be staged in Lae from the 24th-25th of September.
The document MRA is working on outlines the proposal for development, compensation agreement and a tribute agreement, which will assist applicants in completing their applications and providing guidance to those operating within the sector.
Prior to this, MRA conducted a review of the tenements involved and undertook a trial assessment as part of its verification process.
From April to June this year, MRA conducted a re-registration process to verify applicants and gather details of their current mining operations and intentions. Of the 304 tenements, only 175 were found to be genuine.
The tenements date back to the early gold rush in Wau – Bulolo. In fact, 95 percent of the historic exploration licenses are located within the Wau – Bulolo area which is home to the most sustained mining of alluvial gold in Papua New Guinea.
Through the PNG Alluvial Mining Convention, it is anticipated that all stakeholders will engage in all aspects and subsequently, double the revenue within the next 5 years.