ARWA, Papua New Guinea – Island Passage Exploration Limited (IPX) and its partner Isina Resource Holdings Limited (IRHL) have disbursed K201,100 to Takuang Osikaiang Holdings Ltd. (Takuang). This payment represents land access and compensation for work conducted on the EL02 Project located on Bougainville Island, Papua New Guinea.
The financial transaction, equivalent to approximately $46,103 USD or $64,320 AUS, underscores the companies’ commitment to fulfilling their obligations to customary landowners as exploration activities progress. The EL02 license area is a key focus for the joint venture.
Landowner Partnership Emphasized
Glynn Tovirika, CEO of IRHL, expressed gratitude for the ongoing support from IPX. “On Behalf of the Directors of IRHL and Takuang Osikaiang limited, I would like to extend our sincere thanks to IPD, our Exploration Partner for their continued technical, financial and strategic support,” Tovirika stated. He further emphasized the strength of the partnership and its importance in realizing the mineral potential of the region while ensuring community benefits.
The collaboration aims to unlock the mineral potential of the customary lands within the EL02 license. This payment is a concrete step in ensuring sustainable benefits for the local communities involved in the project.
