Highlands Pacific Limited (ASX:HIG) Managing Director, John Gooding presents Highlands Pacific at the Mining 2012 Resources Convention in Brisbane, November 2012Highlands Pacific Limited
(ASX:HIG) has a market cap of about $20 million at the moment and $18 million in cash, we have no debt and our major shareholders are PNG Government bodies. BHP Billiton Limited
(ASX:BHP) who bequeathed their interest in the giant Ok Tedi mine around 2002, set up the PNG Sustainable Development Program for the benefit of the PNG people. Last year the Fund received a dividend of about $1.2 billion which is used to invest in Papua New Guinea assets and infrastructure.
PNG is home to world-class copper/gold projects and the new Prime Minister has a strong mandate in developing the country. The country’s mining law is modern and the fiscal regime now really steady after previous political unrest. Big developing companies such as Newcrest, Harmony, Barrick Xstrata and others are operating world-class copper/gold projects in this region.
Our three main assets are the Star Mountains exploration project just north of Ok Tedi in the Western Province, the Ramu nickel project just out of Madang and the Frieda River copper/gold project in joint venture with Xstrata.
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