Four mining reviews complete

 By GYNNIE KERO

The conclusion of the Ok Tedi review brings to total four mining project memorandum of agreement (MoA) completed, the Mineral Resources Authority says.

Managing director Philip Samar said the three others included Simberi (New Ireland), Sinivit (East New Britain) and Tolukuma (Central).

He said these MoAs were completed and ready for sign off by the parties this year. 

 “This is indeed a milestone achievement by the MRA where never before has the government been able to achieve such an outcome with the Ramu MoA signed off last year and with another four MoAs to be signed off before the end of this year. 

“We set a target of executing three MoAs this year but it looks we will be exceeding that,” Samar added.

He said the remaining agreements for Porgera and Hidden Valley were 90% completed.

He said Lihir’s agreement has been stalled due to the integrated benefits package (IBP) discussions by Lihirian parties.

The IBP is a standalone document that is not replicated in other mines within the country.

The MRA clarified yesterday’s report on the transfer of royalty split from the Ok Tedi Mine.

The authority said the Fly River Provincial Government (FRPG) will not give the 10% royalty to Mount Fubilan Resource Owners Authority (MFRA).

But, both parties have resolved for FRPG to give K2 million from its annual general budget to MFRA every year to sustain its operations.