Newcrest-Harmony JV Gets Papua New Guinea Approval

Australian miner Newcrest Mining Ltd has received approval from the Papua New Guinea government for a gold joint venture with South Africa-listed Harmony Gold Mining Co, Newcrest said on Thursday.

"The ministerial approval paves the way for the conclusion of formalities between the two companies and the development of the joint venture interests in Papua New Guinea," Newcrest said.

"These include the Hidden Valley gold mine which is expected to commence production mid-2009 and the highly prospective Wafi Golpu copper-gold deposit."

Reuters