Better deal if Porgera remained open: Barker

The National National
A man sitting a his table market in Porgera. Papua New Guinea Institute of National Affairs executive director Paul Barker says PNG would have struck a better deal by keeping Porgera mine open. – Picture supplied

By PETER ESILA
PAPUA New Guinea would have done a much better deal by keeping the Porgera mine open, says PNG Institute of National Affairs executive director Paul Barker.
Economist Barker said Porgera had seen an active joint venture partnership with good future prospects, and with no intention of walking away from its assets, “even if they recognised the Government’s right to withdraw or cede the mine license to itself.”
Barker said after the mining lease expired in 2019, the Government was right to renegotiate and seek a better deal, with enhanced returns to the Government and local stakeholders, which the companies were ready to concede.
“But the Government unfortunately misplaced their cards, increased costs and risks to themselves, and forfeited several years of valuable earnings,” Barker said.