REM International today announced that it has acquired a 58 percent equity of a gold mine deposit in Papua New Guinea’s mineral-rich Misima Island.
Online PR News – 09-September-2020 – YOKOHAMA – REM International’s new project will be covering approximately 297 square kilometers of subsea area containing four prospective exploration targets of two different mineralization types being seamount-related epithermal and modern placer gold.
Misima Island off Papua New Guinea is one of the world’s largest known terrestrial gold deposits and this deposit can add significant strategic value to REM International’s diversified Mineral’s portfolio.
REM International’s Exploration Manager, Mr. Satoshi Tanaka commented on the acquisition saying “Opportunities like this one do not come around very often so this acquisition is very exciting. Due to the ongoing pandemic, many businesses have suffered and have either stopped operations or shut down completely, which gives us the opportunity to make potentially good investments at the right time.”
“After our previous exploration expeditions earlier this year, our geologists conducted tests and results indicated a polymetallic resource with high grade gold content. It is believed that the gold deposits have originated from a volcanogenic source that is rich in minerals on Misima Island. We are looking forward to applying REM International’s years of deep ocean exploration experience to understand the full potential of the resources available and cannot wait to get going,” added Satoshi Tanaka, Exploration Manager of REM International.
About Us - REM International
REM International is a mineral exploration and production company with a commitment to discover, develop and produce from Rare Earth Mineral sites throughout the Pacific Ocean. REM International has a focus on innovative, state of the art technology in its exploration, analysis and mining of mineral sites, utilizing the latest advances in undersea robotics.
REM International has mining interests in both the Okinawa trough which lies to the northwest of Okinawa Island and off of the Izu Islands south of Tokyo bay. REM International geologists were also recently a part of an exploration of over 78 sites across the Pacific Ocean which concluded that more than 100 billion tons of rare earth minerals reside in the soft mud of the Pacific floor.
Japan consumes approximately 30,000 tons of rare earth metals each year and the Japanese Natural Resources and Energy Agency has, over the last few years, placed a focus on increasing Japan’s production of rare earth metals, offering development grants and exploration concessions in both the Okinawa Trough and around the Izu Islands. Both areas are highly active volcanic regions with rare earth producing hydrothermal vent systems.