By FRANK ASAELI
HARMONY Gold and InterOil Products Ltd signed a three-year, K100 million fuel and lubricants agreement last Friday at the Airways Hotel in Port Moresby.
The documents were signed by the acting chief executive Harmony South East Asia, Johannes Van Heerden and InterOil Products general manager Peter Diezmann.
The event had been considered a “milestone” for all stakeholders.
Under the contract, Interoil Products will provide all of Hidden Valley and Harmony’s fuel and lubrication requirements for a three-year period from Jan 1.
Harmony tendered its requirements to the market with InterOil winning the bid.
It is understood that InterOil will use Pagini Transport as hauler, which will provide this service under a contractor arrangement with NKW Holdings Ltd which is a Hidden Valley landowner company.
The award of the hauling contract to Pagini provided a great opportunity to not only Pagini’s but also to the Hidden Valley landowners.
The contract also included Harmony’s fuel requirements for its helicopters.
Interoil is to provide technical assistance during mine start up and also on an annual basis.
Interoil is also to guarantee to hold a minimum volume of fuel for Harmony in the case of an emergency.
Both Interoil and Harmony were now keen to begin work on this contract “to foster a solid relationship not only for the initial three-year contract but possibly long term”.