Proactive's Tylah Tully breaks down ‘Just the Facts’ of the latest news from Tolu Minerals Ltd.
Tolu has made progress on multiple initiatives as it advances operations at the Tolukuma mine in Papua New Guinea. Key developments include the commissioning of a gravity gold plant, optimisation of access road construction and plans for hydropower infrastructure.
The gravity gold plant, built by Appropriate Process Technologies (APT), was completed in December 2024, with cold commissioning finalised the same month. Full commissioning will proceed using lower-grade ore stockpiles to optimise plant performance, with higher-grade ore to follow once the Inspector of Mines grants final approval. Full production will begin immediately after approval.
Tolu faced delays in constructing an access road due to extended rainy conditions and landslides. To address these challenges, the company redesigned the route in late 2024 to follow ridge lines, reducing risks of landslips and improving long-term safety and maintenance. While this redesign delays road completion to mid-2025, the new route is expected to enhance operational reliability.
In energy infrastructure, Tolu is exploring a Special Purpose Vehicle (SPV) model for refurbishing its hydroelectric power station. Under this approach, an Independent Power Producer (IPP) would build, own and operate the facility under a long-term power purchase agreement, supplying power to both Tolu and the local grid.