Tolu Minerals has delivered a robust quarterly update as it presses forward with the long-anticipated restart of the Tolukuma gold mine in Papua New Guinea (PNG).
The December quarter report outlines detailed infrastructure works and a scaling drilling program that set the stage for near-term production growth, as well as the introduction of a “mine-defining project” targeted at unlocking greater resource access and shortening timelines for commercial output.
Central to this initiative is the award of contracts for new access tunnels and dewatering systems, improvements to ore haulage infrastructure, and expanded underground exploration platforms designed to position Tolukuma for stepped-up activity.
Significant progress was also recorded across operations. The underground licence has been issued by the PNG Mineral Resources Authority, development blasting has commenced, and ongoing dewatering has achieved notable vertical advance.
Rehabilitation of primary drives and critical services is reportedly complete, with full access operations now in place ahead of a planned underground ramp up.
On the processing front, Tolu is nearing completion of refurbishment on key plant assets while preparations for full plant restart continue.
Additional site enhancements include hydro-power plant negotiations to deliver long-term energy cost efficiencies and the construction of an in-house assay laboratory to support grade control.
Reflecting the company’s confidence in its exploration upside, Tolu plans to expand its drilling fleet to eight rigs by mid-2026, with surface and underground programs aligned to accelerate resource definition and eventual production readiness.
The company is now targeting a phased production ramp beginning in early 2027, with initial quarterly gold recoveries forecast in the order of 20,000–25,000 ounces.
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