The Wafi-Golpu Joint Venture (WGJV) is an unincorporated joint venture formed in 2008 to explore for and evaluate mineral deposits in the Morobe Province of Papua New Guinea and, if commercially feasible, to establish a mine and related facilities to extract and process them.
The WGJV is undertaking the exploration and potential development of the Wafi-Golpu Project (the Project) which is 100% owned by the WGJV. The Project, if developed has the potential to become a major contributor to the economies of Papua New Guinea and of Morobe Province, where the project is located.
The results of the Feasibility studies and declared updated Resources and Reserves completed in February 2016 confirm a viable investment case – one that supports proceeding with the permit applications for the project. The Golpu porphyry is a world-class resource due to its size, high grades, long-life and low operating costs. The design of the mine allows optionality and flexibility to scale the operation up with a relatively low capital investment in response to increasing commodity prices. Engagement with key stakeholders, including the PNG national government, the Morobe provincial government, landowners and community representatives continues so as to ensure clear alignment on the project objectives.
SPECIAL MINING LEASE
WGJV submitted the SML application to Mineral Resources Authority on August 25, 2016.
FEASIBILITY STUDY FINDINGS
Wafi-Golpu Stage One Feasibility Study and Stage Two Pre-feasibility Study prepared by the Wafi-Golpu Joint Venture project team.
PRE-FEASIBILITY STUDY FINDINGS
WGJV participants, Newcrest and Harmony, confirmed the first stage of the Golpu project to proceed to a Feasibility Study in 2015.