African Rainbow Minerals (ARM) is currently studying a project major player in the copper sector in Papua New Guinea, in partnership with American mining giant Newmont Corporation, the chairman of the board of directors, Patrice, said on Tuesday Motsepe.

“We are currently looking at a significant investment. in Papua New Guinea,” Mr. Motsepe said at an event organized by Bloomberg. “We have a partnership there with Newmont who could require, in the long term, an investment of four to five billion dollars.”

The manager specified that the financial situation of his The group was strong enough to support such a project.

According to him, the company has 13 billion rand (i.e. ($756.2 million) in cash, as well as facilities additional R7 billion.

“A large portion of these funds will be invested in Australia. and in Papua New Guinea, which are mainly regions copper producers”, he added, specifying that the shareholders expect the company to focus on these markets.

The planned investment in Papua New Guinea is part of a long-term strategy, in line with trends global decarbonization and the growing demand for critical minerals, a underlined Mr Motsepe