Papua New Guinea: Attractive Geology
PNG sits on the Pacific Ring of Fire in an area of high geologically activity and is associated with some of the world's greatest mineral deposits, such as Newcrest
's Lihir, Hidden Valley, and Wafi Golpu projects. Nearby is also the Ok Tedi mine, formerly owned by BHP.
Panguna was the world's largest copper mine up to the time it was shuttered, and would probably be a top 5 mine if it were ever to reopen.
Major Geological Elements in PNG (Corbett, 2004)
In the 1970's, a moratorium on new exploration was put in place on the Island of Bougainville, with little resource mapping having taken place since then. Even BCL was forced to rely on archive date for their 2008 Order of Magnitude Study.
A major German funded Geophysical and Geological survey however was undertaken in the 1980's, with one report published in 1989 by the Geological Survey of Papua New Guinea – R.J. Rogerson and another published in 1990 by the German Institute of Geosciences and Natural Resources. Both reports suggest that the Island is highly prospective for minerals.