Wednesday, 5th January 2005 (2720 views)

Metals Refining Operations has announced that it has recently made its first export of gold bars.

The only gold refinery in Papua New Guinea (PNG) has exported 50 kg gold bars worth K2 million to Johannesburg in South Africa.

According to Mining Weekly, the export deal took place straight after the company changed its name to Melanesian Metals Corp (MMC).

Under the new company, up to one million ounces of gold will be refined and exported as PNG gold each year.

Previously raw PNG gold was shipped to Australia and sold as Australian gold.

 

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