Cedric Patjole | Loop PNG | May 4, 2018
Indochine Mining Limited and its subsidiary, Summit Development Limited, are planning to appeal a National Court decision upholding a Ministerial decision to refuse the granting of a mining exploration licence to them.
Justice Leka Nablu delivered her ruling on April 27th 2018 following a judicial review sought by Indochine and Summit, on the former Mining Minister, Byron Chan’s decision not to grant Summit the exploration licence (EL 1093) over the Mt Kare Au-Ag Project area.
In a statement, Summit says it respects the Court process that gave rise to the decision, but intends to immediately review the published judgement when available to determine the appropriate grounds for appeal.
The Company’s and Summit’s view is that an appeal is the only way for Summit to secure its rightful tenure of the exploration licence and undertake the development of the Mt Kare project.
The company says it is financially solvent (it is not under any form of external administration), has a strong technical team in place and is fully capable of performing its obligations under the existing, or any further, exploration licence that is granted in respect of the Mt Kare area.