PNG’S TOLUKUM GOLD PROJECT PRODUCING, OK TEDI STILL CLOSED

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PORT MORESBY, Papua New Guinea (January 6, 1998 - PACNEWS)---The Tolukum gold project in the Central Province of Papua New Guinea has reported production valued at 60 million kina ($US35 million) for the period ending December 31, 1997.

Project Manager Simon Law says about 150 ounces of gold were obtained from the mine during the past year.

Law also says a mini-hydro-electricity project to power mine operations has just been completed.

The PNG drought has not hampered work at the mine, he noted, but actually made construction of the power unit, open pit work and underground drilling easier.

Meanwhile, the giant OK Tedi gold mine remains closed despite heavy rains in the area over the past several days. The Fly River water level now is higher, but still not deep enough to transport stockpiles of ore mined earlier.

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