Perhaps one of the important sectors in the extractive resource business in Papua New Guinea (PNG) is alluvial gold mining, it has contributed quite a lot in mining revenues over the years, but activities in this sector has gone down in the past couple of years.
This was revealed by the Managing Director for Mineral Resources Authority (MRA) Mr. Jerry Gerry when giving his keynote address at the opening of the 2nd Geosciences, Exploration & Extractive Conference (GEE 2024) in Port Moresby city yesterday.
Mr. Gerry, when giving an update on the overall progress of the country’s mining sector, said alluvial gold mining or small-scale mining, has declined significantly.
“We’ve seen a drastic decline in the last three years,” said the MRA Managing Director.
“Last year it went down to around 36, 000 ounces from over 120, 000 ounces.”
According to data on a graph which he referred to on the alluvial gold mining sector, 2008 saw an increase of production from 80, 000 ounces per annum to over 120, 000 ounces per annum in 2019. Fast forward to 2023, that figure was reduced to 32, 274 ounces per annum. That is an export value of K247million.
Mr. Gerry later explained that assessments are being carried out to determine the cause behind the drastic reduction of activities so to revive it. The sector itself employs over 40, 000 to 80, 000 people.