Chamber welcomes mine agreement

THE PNG Chamber of Mines and Petroleum has welcomed the signing of a memorandum of understanding between the Government and the joint venture partners of the Wafi-Golpu project.
The signing last week was between Newcrest Mining Ltd and Harmony Gold.
Chamber executive director Dr Albert Mellam said the project was important to Papua New Guinea, particularly at a time when major mining projects such as Ok Tedi and Porgera were at a “mature” stage.
Mellam said the decision by the Government and the project partners to reach an understanding on a way forward to bring the copper-gold project to development was commendable.
Newcrest in a statement said “as a result of entering into the agreement, the WGJV was completing approval processes to commence a substantial work programme, including establishment of underground access for further drilling of the Golpu deposit and the construction of a bridge over the Markham River, which is an integral feature of the proposed new Northern Access road from the Highlands Highway to the mine site”.
It said the agreement was also an indication of the parties’ intent to proceed with the Wafi-Golpu Project, subject to finalisation of the permitting process and Newcrest and Harmony Board approvals.
Mellam also pointed out that like all other resource projects, the Wafi-Golpu project will inject significant revenue into the country’s economy, and provide substantial socio-economic benefits to the project impact communities including the local landowners, the host province of Morobe, and the country.