PETROMIN HOLDINGS LTD PLACES TOLOKUMA GOLD MINE UNDER CARE MAINTAINENCE – CEO SAM INGUBA.


Petromin Hold Limited has announced over the weekend it will close down one of its operations at Tolokuma.

Petromin CEO Mr Sam Inguba was on site over the weekend and told the workforce Petromin has decided to close down TGM.

The primary grounds of the closure stems from the fact, according to TGM GM and CEO Sam Inguba, is “there is not Gold deposits any more” in TGM.

All critical services are been placed under Care Maintainence while non critical operations have been shut down immediately.

Same exercise has been done to the workforce. All casuals and departments that aren’t crucial to the mines operation has had their worl force stood down immediately too.

Mr Inguba and TGM GM were supposed to fly back into Port Moresby yesterday but bad weather has prevented them from traveling.

They will travel today if the weather permits.

Just last week NEC approved the Reviewed MOA for TGM after the YLA Chairman George Gusi retaliated due to the fact MOA for TGM was never approved.

A few days later, Petromin CEO Mr Inguba drops the mine closure bomb directly to the workforce at the mine site.

It is obviously there is a break down in communication or there are different factions at work in relation to ownership and operations of Petromin owned Tolokuma Gold Mine in Goilala District.

More updates to follow…

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