Island Passage Development Canada Limited (IPDC) has begun mineral exploration in Bougainville, Papua New Guinea, in partnership with Isina Resource Holdings Limited (IRHL), a customary landowner company.
The two partners are exploring the 261 square kilometres of mineral property located in south-central Bougainville in the Crown Prince Range, south-east of the historic Panguna copper and gold mine.
This marks the first undertaking of a large-scale mineral exploration program on Bougainville outside the special mining lease held by Bougainville Copper Ltd since 1965.
It is also the first valid license for metals exploration on Bougainville issued under the Autonomous Bougainville Government’s 2015 Mining Act.
Director of IRHL and Chair of the Central Veterans Association, Steven Topesi said the Kongara people on Bougainville had always rejected claims on its mineral resources by outsiders.
“Now, as the recognised owners of our minerals, we are proud to be the first landowner company to invite an outside partner, Island Passage, to join with us to explore and develop what we have,” Mr Topesi said.
IPDC initiated the exploration program in March with a team led by several Indonesian geologists who are experienced on the island and specialised in porphyry copper geology and exploration.
The team is supported by more than 30 Bougainvilleans who have undergone field operations training.
Co-Founder and Chief Executive of IPDC, Donald McInnes said for 17 years beginning in 1972, Bougainville was host to one of the world’s largest copper-gold mines.
“Today, the world is chasing new supplies of critical and precious metals, and demand is driving gold and copper to new highs,” Mr McInnes (pictured) said.
“Island Passage Development is committed to working with the customary landowners of Bougainville through an innovative partnership to reassess the mineral potential of Bougainville and to provide a sustainable future for its people.”
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Plugging the gap in ammonia production
Green hydrogen company, Plug Power Inc. has announced the signing of a memorandum of understanding (MoU) with Allied Green Ammonia (AGA), an Australian company focused on green ammonia production.
Plug Power will supply up to three gigawatts of electrolyser capacity for AGA’s hydrogen-to-ammonia facility proposed for Australia’s Northern Territory.
Founder and Managing Director of AGA, Alfred Benedict said the MoU built on a long list of leading global firms who were joining the company on its journey to build one of the largest green ammonia production facilities in the world.
“This agreement, in light of Plug’s unrivalled expertise and complementary technologies, is a strong vote of confidence in our capabilities and a significant milestone in the planned delivery of Allied Green’s facility,” Mr Benedict said.
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Foreign tourists return to Italy
The
Florence-based Centre for Tourism Studies (CTS) has released data showing that
nearly seven million guests were recorded at Italian accommodation
facilities over the Easter
period, an increase of
1.2
per cent compared to the same period in 2023.
Foreign
tourists in particular increased by 3.2 per cent, while the
percentage of Italians decreased slightly by 0.8 per cent, probably influenced
by economic factors and a reduction in purchasing power.
The CTS found
that foreign tourists showed a strong preference for art in cities and
villages, while Italian tourists preferred beach or spa locations, in addition
to showing a growing interest in slow tourism.
“This trend is
confirmed by the success of FrecciaLink, the all-in-one train plus bus service
offered by Trenitalia, and the use of trains as the favoured means of transport
for these trips,” the CTS stated.
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YY Group expands into Vietnam
Singapore-based data and technology company, YY Group Holding Limited, specialising in intelligent labour-matching services and smart cleaning solutions, has announced its entry into Vietnam’s hospitality industry.
This follows YY Group’s successful entry into the Malaysian market last year.
The company already has a strong presence in Singapore, supplying skilled manpower to major hotels such as Ritz-Carlton, Hilton, and Shangri-La hotels and resorts.
Founder and Chief Executive of YY Group, Mike Fu said that building on this success, the company aimed to adopt the same innovative approach in Vietnam, tapping into the growing demand for high-quality hospitality staff in the region.
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Partnership to boost blockchain innovation
OKX Ventures, the investment arm of crypto exchange company OKX, says it will partner with Stanford University’s Future of Digital Currency Initiative (FDCI), promoting blockchain innovation and sustainability.
Partner of OKX Ventures, Jeff Ren said that through this collaboration, OKX aimed to advance the frontiers of knowledge, tackle industry challenges, and unlock new opportunities for innovation.
“We plan a series of initiatives in research, knowledge-sharing, technical collaboration, and community activities engaging students, institutions, regulators and more,” Mr Ren said.
“Stanford's Future Digital Currency Initiative is an institution known for its ground-breaking research and innovation in digital currencies.”
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