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Friday, 22nd December 2006 (2134 views)

It is hoped that the opening of a new gold plant in Arawa, Bougainville will help to boost economic prosperity and allow local people to make their own fortune.

According to the Papua New Guinea newspaper The National, Invincible Resources has opened a smelt and assay laboratory and a communications facility on the Pacific island in a bid to boost gold trading in the area.

The Canada-based mining company said that any money it earns from the use of the plant will go towards community projects that will benefit the people of Bougainville.

Joseph Kabui, the island's president, said he hopes the new gold plant would aid the recovery of Bougainville's economy by helping to retain the money earned from gold mining in the Panguna River.

"Our dream is to make the people of Bougainville become millionaires and to ensure that Bougainville shores up economically," he told The National.

Earlier this year Invincible Resources reportedly donated $10.5 million (£5.36 million) to the Autonomous Bougainville Government as a gesture of goodwill.

 

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