Mine’s presence in PNG praised


PAPUA New Guinea represents Newcrest Mining’s most significant presence outside  Australia, company chairman Peter Hay says.
He said the strong association was reflected in the company’s listing on the Port Moresby Stock Exchange.
PNG accounted for 40 per cent of Newcrest’s total gold production in the 12 months to June 30 this year.
“Newcrest is a major economic contributor to PNG, as well as the provinces and local communities where our mines and projects are located, investing over US$3 billion (K9b) in PNG since 2010,” Hay said.
“In the last financial year alone, our operations spent over K1 billion in PNG on local contractors, employee wages, community compensation and development programmes on top of government royalties, taxes and levies.”
Hay noted the improving performance at Lihir and the benefits to all stakeholders.
Hay, Newcrest’s full board, managing director and chief executive officer Sandeep Biswas and the management team visited Papua New Guinea this week to see the company’s largest mine at Lihir in New Ireland.
The board and management team had a series of productive meetings with government, landowners, communities and employees. The board hosted a function to thank stakeholders, Government ministers and officials, diplomats and business leaders, for their continued support.for Newcrest’s presence in PNG.

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