Western Pacific Precious Metals Projects Updated

Major precious metals projects are underway in Australia, Papua New Guinea, Indonesia, the Philippines and New Zealand. This article reviews the status of those projects. Included in this review are project location, reserves, method of resource exploitation, anticipated production, and other unique conditions. The article is limited to major precious metals projects in the Western Pacific region. This is not meant to negate the attractiveness or importance of the many other projects in that area. The geographical setting of these five countries are shown in [Fig. 1]. The gold output of the countries has increased dramatically during the 1980s. [Table 1] compares 1980 and 1988 production figures. The compound growth rate is 120%. That reflects the attractiveness of the region’s resource base as well as the impact of price increases, new exploration models and processing technologies, and changes in government policies. If the 10 projects discussed here are all brought onstream, their combined output - at about 130 t (4.17 million oz) - would amount to an increase of greater than 50% over 1988 production from this region. Table 2 shows indicative production levels for each of the 10 projects. Dollar amounts are in US currency unless otherwise specified. Australian dollars have been converted to US dollars at the rate of 1.28: 1.00.