Kokoda miner to sue PNG
Thursday, June 26th, 200826/6/08
An Australian mining company says it will sue the Papua New Guinean Government for $3 billion after it was denied an exploration licence for a site near the Kokoda Trail. The Perth-based company Frontier Resources yesterday confirmed that the PNG Mining Minister, Puka Temu, had refused to renew its Mount Kodu licence. Planned work at the site would have threatened parts of the track, where 600 Australian soldiers died fighting the Japanese during World War II. In a statement to the Australian Stock Exchange, Frontier said it would seek to recover $3.2 million in exploration expenditure, in addition to “lost potential future profit” close to $3 billion.
