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Production / Operations

Freeport continues with Wardens hearing for EL 1335

By The Northwire Desk — AI Analysis Mar 26, 2026 · 17:57 FRI · 0.065 Freeport Resources Inc.
FRI · Price

Executive Summary

  • Freeport Resources Inc. provided an update on the Wardens hearing for the renewal of Exploration Licence 1335 (EL 1335) covering the Yandera copper project in Papua New Guinea.
  • The hearing took place on March 25, 2026, with significant support from local landowners, tribes, clans, and government officials, including the Member of Parliament for the Usino-Bundi district.
  • The renewal is for a two-year term ending November 19, 2027, pending final recommendation by PNG's Mining Advisory Council to the Mining Minister.

Key Details

  • Hearing Details: The Wardens hearing for EL 1335 occurred on March 25, 2026, at Yandera, conducted by senior Mineral Resources Authority (MRA) mining warden Kopi Wapa.
  • Attendees: Principal landowners, tribes, and clans were present in significant numbers. Also in attendance were Vincent Kumura (MP for Usino-Bundi district), representatives from the Madang governor's office, and the Usino-Bundi district office.
  • License Terms: EL 1335 covers a 245.5-square-kilometre concession. The renewal is for a two-year term ending November 19, 2027.
  • Regulatory Process: The MRA administers the licence under the Mining Act of 1992. The PNG Mining Advisory Council will consider the application and the Warden's report before recommending approval to the Mining Minister.
  • Community Relations: Concurrent with the hearing, Freeport delivered a shipment of medical supplies to support local healthcare systems. The company is also in discussions with a local foundation for collaboration on healthcare and educational support.
  • Project Background: The Yandera copper project is located 95 km southwest of Madang and 235 km northwest of Lae, PNG. It is described as one of the largest undeveloped copper reserves in the world.
  • Historical Resource Data: Over $200 million (U.S.) in exploration and development expenditures have been completed. A 2017 prefeasibility study by Worley Parsons estimated historical measured and indicated resources of 727 million tonnes grading 0.45% copper equivalent.
  • Cautionary Note: The company cautions that the historical resource estimate is not current, as a qualified person has not done sufficient work to classify it as such under NI 43-101. Verification would require new exploration programs, including twinning of historical drill holes.

Notable Quotes

  • "We are very grateful for the support shown by the Landowner Association, the Madang provincial government, our local member of Parliament, the Honorable Vincent Kumura, the Usino Bundi District Development Authority and the many members of the local community who attended the Wardens public hearing on for the renewal of EL 1335. We would also like to thank the leadership of the Mineral Resources Authority of PNG for their efficiencies in processing the application for renewal of Yandera copper exploration licence." — Dr. Nathan Chutas, Senior Vice-President, Operations, Director and Qualified Person
Read the original news release →

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