What We Do
Kumul Minerals is leading the way in the exploration and development of mineral assets across Papua New Guinea.
What We Do
Kumul Minerals is leading the way in the exploration and development of mineral assets across Papua New Guinea.
Kumul Minerals is the State Nominee for State Equity Option projects in Papua New Guinea.
It is a feature of all Exploration Licences in PNG that the State has the option to acquire up to 30% of any mineral discovery in a single transaction at any time until the commencement of mining. The exercise price is pro-rata to the equity acquired, payable on the accumulated exploration expenditure for the project. After the acquisition, the State is required to contribute on a pro-rata basis to ongoing exploration and development costs. See Mining Regulation 1992, Form 1 for further detail on the State Equity Option.
As the State Nominee, it is Kumul Minerals’ role to participate in negotiations to acquire shares in minerals projects and raise the funds required for the exercise of the State Equity Option. KMHL then holds these shares and contributes to exploration and development costs on an ongoing basis.
Kumul Minerals’ mandate allows for targeted participation at all levels of the Minerals Sector in PNG.
Kumul Minerals takes a strategic approach to providing and creating value at all levels of the minerals value chain. We connect investors with mineral assets and profits with the people of Papua New Guinea. It’s a local-first approach to mineral asset development.
Exploration
We manage the deployment of the KMHL Exploration Team across the country. This is first and foremost for the known instances of base metals, precious metals, and strategic commodities. However, we are rapidly developing our Critical Minerals database and investing in cutting-edge technology.
Operations
Kumul Mineral holds major shareholdings in the Ok Tedi and Porgera operations.
- KMHL owns 67% of Ok Tedi Mining Limited, which is our flagship asset and primary source of revenue. The Ok Tedi Copper-Gold Mine also serves as our platform for growth, providing the technical and operational expertise to independently develop new mines in Papua New Guinea.
- KMHL owns 36% of New Porgera Limited, which is the owner of the Porgera Gold Mine. Porgera is one of Papua New Guinea’s longest-running mines, with reserves sufficient to underpin long-term profitable operations.
Mine Projects
KMHL supports and participates in development projects.
- We are actively engaged with the State Negotiating Team for the exercise of the State Equity Option in the Wafi-Golpu Project. The State of PNG has announced its intention to exercise its right to acquire 30% of the Wafi-Golpu Project, with 20% retained by KMHL and 10% to be shared by the Morobe Province and landowners, subject to completion of the permitting process.
- KMHL owns 15% of the Solwara 1 Project in the Bismarck Sea, which is among the world’s first seabed mining projects.
- KMHL has taken a strategic shareholding in Tolu Minerals, owner of the Tolukuma Gold Project.
Downstream Processing
It’s important to KMHL that we are able to maximise the value of Papua New Guinea’s mineral resources and enhance the resource utilisation across the country. In this way, we are seeking to capture maximum revenue and generate the largest number of jobs for Papua New Guineans.
We are actively studying opportunities for development of downstream projects:
- Gold refinery
- Copper smelter-refinery
- Nickel smelter-refinery
- Tailings reprocessing studies
Exploration Strategy
KMHL’s focus on cutting edge technologies maximises efficiency in the exploration of PNG’s mineral assets. We are actively and continuously pursuing new technologies to fast-track exploration success for the benefit of our strategic partners and local communities.
Here are some of our strategic technologies in progress:
Satellite-based remote sensing – pilot program completed
XRF scanning for field assays – scanner procured and logging program
Drone-based lidar topography and magnetics surveys – pilot training and certification
Integrated database software to collate geospatial and geological data
Exploration Strategy
KMHL’s focus on cutting edge technologies maximises efficiency in the exploration of PNG’s mineral assets. We are actively and continuously pursuing new technologies to fast-track exploration success for the benefit of our strategic partners and local communities.
Here are some of our strategic technologies in progress:
Satellite-based remote sensing – pilot program completed
XRF scanning for field assays – scanner procured and logging program
Drone-based lidar topography and magnetics surveys – pilot training and certification
Integrated database software to collate geospatial and geological data
Critical Minerals Strategy
Many countries across the globe have developed critical minerals lists and have adopted special policies for the exploration, development, and export of these minerals. These countries include the USA, EU, Australia, UK, Japan, India and Korea.
There is an opportunity for Papua New Guinea to benefit from global focus on critical minerals through exploration and development of deposits.
Strategic supply agreements with global partner economies can drive lasting benefits for Papua New Guinea, but first these deposits must be discovered and developed. KMHL is leading this exploration process for the benefit of Papua New Guinea.
Partners & Investors
Kumul Minerals Holdings Limited is always open to new strategic opportunities with partners and investors. We hold many strategic partnerships with both local and international investors and mining companies.
A commitment to developing Papua New Guinea
All of our operations are underpinned by a commitment to developing Papua New Guinea. With every new advancement we make in PNG’s mining infrastructure, we have an opportunity to develop Papua New Guinea as a whole. We endeavour to maximise shared use infrastructure to ensure it’s to the benefit of the country and the local community.
We’re motivated to make the most of our company’s success with the knowledge that the profit we achieve for our own company and for our strategic partners will benefit the economic success of Papua New Guinea.
A commitment to developing Papua New Guinea
All of our operations are underpinned by a commitment to developing Papua New Guinea. With every new advancement we make in PNG’s mining infrastructure, we have an opportunity to develop Papua New Guinea as a whole. We endeavour to maximise shared use infrastructure to ensure it’s to the benefit of the country and the local community.
We’re motivated to make the most of our company’s success with the knowledge that the profit we achieve for our own company and for our strategic partners will benefit the economic success of Papua New Guinea.