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Writer's pictureAG INVESTMENT

Finschhafen Limestone Project: Paving the Way for Local Development


The Finschhafen Limestone Project, an ambitious initiative led by AG Investment Ltd (AGI), aims to harness the rich limestone resources found in the Finschhafen District of Papua New Guinea. This significant project focuses on the extraction and downstream processing of limestone to produce cement bags, which will play a crucial role in supporting local infrastructure development and fostering economic growth in the region.


Warden Hearing and Community Engagement

On August 20, 2024, a defining moment for the Finschhafen Limestone Project occurred during the Warden Hearing officiated by the Mineral Resources Authority (MRA) Mine Warden, Asi Sando, in Busiga. This event brought together limestone resource owners from the Yabem, Mape, and Kotec LLG areas in Finschhafen, alongside representatives from the Labuta LLG in the neighboring Nawaeb District. AGI’s Managing Director, Allan Guo, was actively involved, emphasizing the company's commitment to collaboration and establishing meaningful connections with the local community.

The gathering was enriched by the participation of local leaders and the Yaweng clan singsing group, showcasing the cultural significance of the project within the community. These interactions reflect AGI's dedication to community involvement and its recognition of the local stakeholders’ voices in the development process.


Exploration License Application

As part of its ongoing efforts, AGI is currently seeking Exploration License #2799. This application is an essential step toward assessing and establishing the feasibility of limestone mining in the region. Through this initiative, AGI demonstrates its strategic vision—not only to extract valuable mineral resources but also to engage in value-added processing that benefits the local economy. This commitment aligns with AGI's broader objectives of sustainable development and community empowerment.


Related Initiatives

AGI’s endeavors extend beyond the limestone project; we are also actively involved in the Finschhafen Hydropower Project. This project aims to harness the energy potential of the Burum, Kuat, Mongi, and Mape rivers for electricity generation. Both the limestone and hydropower projects are part of the larger Finschhafen District Development Authority initiatives, chaired by the current Minister. This alignment reflects AGI's commitment to supporting local development goals and contributing to the economic prosperity of the region.


Conclusion

The Finschhafen Limestone Project represents a significant step forward in resource development in Papua New Guinea. By harnessing local limestone resources and engaging with the community, AGI is not only working to boost infrastructure development but also empowering local economies. We are excited about the future of this project and its potential impact on the Finschhafen District.

Stay tuned for more updates as we continue our journey toward sustainable development and community engagement.

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