Informing Today, Inspiring Tomorrow
Brian Rodan, Executive Chairman of Augustus Minerals Ltd. Source: Augustus Minerals Ltd.
Augustus Minerals Ltd, Through its PNG Subsidiary, ACM Contract Mining PNG Ltd (ACM PNG)
A bold move in PNG’s highlands
Australian-listed gold explorer Augustus Minerals Ltd has gone all-in on a Papua New Guinea opportunity that has long tempted explorers yet resisted commercial development: the Mt Kare Gold Project. The company has acquired 100 % of ACM PNG, the vehicle holding the licence application for Mt Kare, via its parent, ACM International Pty Ltd. The deal, agreed for $250,000 cash, underscores the company’s confidence in what they describe as “one of the premier gold development opportunities in the Australasian-Pacific region.”
ACM PNG holds a valid application for Exploration Licence (ELA) 2446 for Mt Kare. Augustus describes this as “second-in-time” (or “second-in-line”) after the first application was removed from the register of tenements.
Background: Mt Kare – the elusive “crown jewel”
A mining site. Source: Augustus Minerals Ltd.
Located in the rugged highlands of Papua New Guinea, near the existing Porgera gold mine (one of the world’s richest), Mt Kare has long been viewed as among PNG’s next major resource-projects. Historically, Mt Kare hosts a mineral resource estimate of 43 million tonnes at 1.5 grams per tonne of gold for 2.1 million ounces of gold, and 18Moz silver. But the project has faced many obstacles: remote, rugged terrain; high development and infrastructure costs; contested tenure; and a chain of licence applications and expiry. Earlier work by companies such as Indochine Mining Ltd (now Summit Gold Ltd) advanced to pre-feasibility in 2012, yet the licence expired in 2015 and further progress stalled.
What Augustus now holds and the significance
With the acquisition of ACM PNG, Augustus Minerals Ltd now has full ownership of the PNG company that holds the Mt Kare application. The ASX Announcement (25 June 2025) confirms the acquisition and states Augustus is positioned “second-in-line” for the Mt Kare licence.
This positions the company to:
- Object to or negotiate with prior applications, under the PNG Mining Act, in order to secure tenure.
- Push for the granting of the exploration licence (ELA 2446) and then commence exploration work, drilling and eventual feasibility studies if successful.
For Augustus Minerals, Mt Kare represents a strategic asset: not just for the gold alone, but as a foothold in PNG’s mineral corridors, via a locally-based vehicle (ACM PNG) with plans for a major project.
Workshop for the landowners with Augustus Minerals Ltd, Executive Chairman, Brian Rodan (Standing) . Source: Augustus Mineral Ltd.
Current status & outlook
As of September 2025:
- Augustus Minerals has announced it is actively engaged with landowners, key stakeholders and PNG government departments to advance Mt Kare’s application.
- The company has secured capital ($1.675 M) of which part of it will fund the Mt Kare project.
- The company states that the licence grant is expected to progress during 2025.
Key next steps:
- Tenure: Formal granting of the exploration licence by the PNG Mineral Resources Authority (MRA).
- Exploration: Once licence granted, rapid drilling and resource definition work is proposed. Mt Kare’s proximity to Porgera and its analogous structural setting is a major draw.
- Feasibility / Development: If exploration results are positive, feasibility studies and eventual mine development could follow, but this remains some years out given remote terrain and infrastructure demands.
Brian Rodan, Executive Chairman (Standing) in discussion with the landowners. Source: Augustus Minerals Ltd.
Why this matters for the region & for investors
For PNG, Mt Kare represents the potential for significant economic benefit: jobs, infrastructure, export earnings. For Augustus Minerals, the upside is high: securing tenure on a gold project with historic resources in a proven gold district (near Porgera) could be company-making.
Mt Kare also has implications: ore transport logistics, access roads, highland communities, port and shipping linkages for export, all spun off from a major resource development.
Augustus Minerals’ move to acquire ACM PNG and stake a claim in the Mt Kare gold project is bold and timely. The project ticks many boxes: historical resource, premium location, regional significance. But the path ahead is still lined with major technical, regulatory and logistical hurdles. If the exploration licence is granted and Augustus executes its plans, Mt Kare could well transition from “elusive prey” to landmark project. Until then, it remains a high-risk, high-reward opportunity, one worth watching closely.
