MT BINI (KODU/ELO)
Location
Owen Stanley Ranges 65 kilometres north-north-east of Port Moresby, Central Province.
Latitude: 9°17'50.31"S Longitude: 147°36'19.58"E
Status
Mining Exploration Lease (EL1348 not renewed).
Type of Mine and Waste Disposal
The Mt Bini project near Port Moresby was at an advanced stage of exploration and an Environmental Assessment Report was produced to support Frontier’s case that there is no valid reason under the Mining Act or even in the National Interest to not renew the Exploration License (EL 1348). The exploration license in question, EL 1348 (containing the Kodu copper-gold-molybdenum deposit), was officially refused renewal by the Minister of Mining for Papua New Guinea in June 2008. No reasons were given. Frontier's application for a Judicial Review regarding the Papua New Guinea Minister for Mining’s decision not to renew EL 1348 was unsuccessful (December 2008).
Frontier Resources has four other Exploration Leases in PNG and has announced that it has entered a strategic alliance with Ok Tedi Mining Limited. Two Joint Venture Agreements were signed covering 3 of Frontier's Exploration Licenses and 2 exploration license applications.
Target Minerals
Gold, Copper, Molybdenum.
Current Production
N/A.
Ownership and Finance
Mt. Bini (Kodu/Elo) operations are 95% owned by Frontier Resources Ltd which is an Australian Stock Exchange listed junior mineral exploration company, whose shares also trade on the Frankfurt, Berlin and Munich Stock Exchanges.