KANU IS KUMUL MINERALS MANAGING DIRECTOR

Industrial and Mining Expo brings stakeholders together

The recent PNG Industrial and Mining Resource Exhibition and Conference that was held in Port Moresby recently for two consecutive days had a positive turnout by exhibitors as well as representatives and attendees from different companies and businesses in the industrial and mining sector when they showcased their various products and services to potential buyers and clients.

More than 55 exhibition booths were set up by Exhibitioners and participants at the Sir John Guise indoor complex mostly by businesses from the industrial and mining sector to network and showcase their services and product capabilities.

During the course of the two-day event, there were various speakers from different companies within the industrial and mining sector as well as stakeholder organizations that presented their companies’ products, services, developments, and what they can provide and offer.

Some notable presentations were from the gold sponsor of the event, Motor Vehicle Insurance Limited (MVIL), Civil Aviation Safety Authority of PNG (CASA PNG), Cyber Security PNG Ltd, and Orica Mining Services.

The expo drew interest and extensive support from key stakeholders in government, and representatives from all business sectors as well as tertiary institutions who were pursuing courses in fields aligned with some of the exhibitors’ specialties.

The exhibition and conference were highlighted as a premier meeting place for industry trade and a forum for establishing high-quality customer contacts. There was also a special ‘Buyers Lounge’ for suppliers and purchasing officers to meet and purchase products and equipment.

Managing Director and Chief Technical Officer of Benchmark Industrial, Micheal Babul expressed his sentiments and held the exhibition and conference in high regard and was appreciative of the event and all its sponsors.

“It has really helped attract customers and clients to recognise the value and potential of our company’s products and the services that we provide, in fact we have sold a number of our equipment and products worth more than K100,000 and gained a lot more clients during this expo and we are really appreciative and happy that we attended as exhibitors,” Mr Babul said.

The purpose of the conference was to promote, harness and bring together companies in the industrial and mining sector to expose and network their products and services. It was held to bring Financiers, suppliers, logistic and procurement service providers, and other interested parties to attend from both the public and private sector.

Kanu Named Kumul Minerals Holdings Ltd Managing Director

Kumul Minerals Holdings Limited (KMHL) has named Sarimu Kanu as its new managing director.

Nellie James, KMHL’s president, made the declaration.

“Under the KMHL constitution, the power to appoint a managing director lies with the board,” James explained.

According to James, Vanguard International’s independent recruiting procedure resulted in Kanu’s hiring, and the board’s choice was based on the panel’s recommendations.

“He is a highly experienced senior national mining engineer with professional knowledge in mineral engineering, having held very senior management roles in the mining industry,” James said. “I congratulate Mr Kanu on his appointment and welcome him on board.”

James also acknowledged Hengene Ivan for acting as MD over the past three months.

Kanu graduated from the University of Technology in 1992 and has knowledge of the mining industry spanning 29 years.

“Mr. Kanu brings to the company a wealth of experience from the mining industry. His current role is country manager, PanAust, the developer of the Frieda River gold-copper molybdenum project in West Sepik.

Additionally, he has served in a variety of high managerial positions for mining firms, most notably as vice president of the Ramu-Nickel mine in the Madang, according to James.

“Mr. Kanu as the managing director and chief adviser to Kumul Minerals is a game-changer for the company in the highly competitive and challenging mining industry, as he brings high experience and energy to the company,” James said.

She continued by saying that the appointment would help the company carry out its responsibilities as the nation’s mining company as it worked to increase PNG’s involvement in significant mining projects across the nation.

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Newcrest Delivers Two Million Ounces of Gold In Fiscal Year 2022

There were no pandemic-related delays in Newcrest Mining Limited’s 2 million ounces of gold output in the fiscal year 2022, even though several maintenance and improvement projects were carried out.

Sandeep Biswas, managing director of Newcrest, stated at the company’s annual general meeting (AGM) in Melbourne that this output was delivered at an All-In Sustaining Cost margin of US$732 per ounce (K2580) and that this was achieved while maintaining a disciplined approach to their financial management, which saw four straight quarters of declining group costs over the course of the previous financial year.

He claimed that by successfully completing their acquisition of the Brucejack mine in western Canada, they were able to achieve value-accretive growth as a key goal.

“Brucejack is one of the world’s highest-grade operating mines and complements our quality portfolio of large-scale, long-life, and low-cost assets. It also means Newcrest now has exposure to six tier 1 ore bodies globally,” Mr. Biswas said.

He asserted that building a good gold firm requires having genuine, relevant exposure to copper.

“At the end of the 2022 financial year, on a 100 percent basis, our Group Ore Reserves contain approximately 11 million tonnes of copper, with an estimated 25 million tonnes inclusive of our Group Measured and Indicated Mineral Resources,” Mr. Biswas said.

“In addition to having substantial exposure to copper today, it means our exposure is well placed to increase in the future through the conversion of Mineral Resources to Ore Reserves. In the last financial year alone copper actually accounted for 25 percent of Newcrest’s total net revenue, up from 22 percent just one year earlier.

“Our intention is to build on this profile going forward through the building of the Red Chris Block Cave, pursuing the approval of Wafi Golpu and with the potential development of Namosi further down the track.”