Yandera copper project in PNG ready to start, CEO tells industry
CANADIAN-based mining company Eda Resource, the developer of the Yandera copper project in Madang, is ready to get things off the ground as it has an efficient capital structure.
President and chief executive officer of Marengo Mining, Pieter Britz, made this known at the Mining and Petroleum conference in Port Moresby this week.
He said the company continued to investigate other base metal opportunities.
Britz said the company had an experienced board and management with good funding supported by “cornerstone investors”.
“As part of the evolution of the feasibility work that have been done throughout 2011, 2012 and 2013, we have an investor agreement with the Government,” he said.
“We have a strong working relationship with the landowners, the villagers, the tribes on the areas impacted by the Yandera project and we are already underway with our revised scoping studies. Blitz said the Yandera project had the potential to be developed.
He said the project was looking forward to making it a reality by working on the feasibility programme that would lead to a decision on the commercialisation of the project.
“We hope to have by the end of 2018 a definitive feasibility study completed and ready to make a decision on going forward in early 2019.”