Highlands need PNG.
This is becoming interesting and I can't see anything positive until the following is settled.
- Professor Garnaut was forced to resign as Chairman of PNG’s biggest mining company OK Tedi.
- Professor Garnaut has had a travel ban imposed on him by PNG’s Prime Minister Peter O’Neill.
- Professor Garnaut is a director of Highlands Pacific.
- Professor Garnaut resigned from the position of chairman of PNGSDP.
What worries me is Mr. Garnauts last statement here in regard to the OK Tedi Chairman resignation:
Professor Garnaut said the Ok Tedi board must address three pressing issues: proposals to extend the life of the mine; a performance review of senior managers; and potential co-operation with mining giant Xstrata and Brisbane-based Highlands Pacific to develop nearby ore bodies.
If Highlands Pacific requires aid from OK Tedi and PNGSDF to develop the above then he may also have to resign from $HIG .
This will happen sooner rather than later for $HIG & Star Mountain to proceed.