Papua New Guinea
A subsidiary company of Kibush Capital Corporation known as Aqua Mining has successfully received approval from the Department of Forestry Papua New Guinea to commence logging in the Kabuna and Rigo areas. The timber authority (TA) allows control of 2,000 hectares in Kubuna, located in the Central Provence District around 75 kilometres N NE of Port Moresby. Additionally, Aqua Mining has greater than 40,000 hectares of primary forest under contract for commercialization with landowners of such property over time (subject to TA approval).
Aqua Mining was also successful in securing a second TA for 2,000 hectares in Kwikila Station, located in the Rigo District around 55 kilometres E of Port Moresby. Furthermore, Aqua Mining has negotiated with landowners to commercialize the total area of 25,000 hectares over time with the appropriate TA approval.
For both of these respective sites, it is expected that 12 cubic metres of timber should be recovered per hectare and allowing for poor weather conditions, each site should produce an average of 300 cubic metres per month.