Govt close to sealing deal with Barrick

The National National

THE Government is poised to sign an agreement with Barrick Gold for the reopening of the Porgera Gold Mine in Enga, 12 months after its closure last April over rejection of renewing the mining lease by the State, Prime Minister James Marape announced yesterday.
Announcing the breakthrough in negotiations by the State and Barrick, Marape said Papua New Guinea would receive a “far superior deal” than the 31 years from 1989 to 2021.
“I’m announcing to our country that within the principles of my Government, which includes getting more from our natural resources, we are in a better position now to sign an agreement with Barrick for what will be a new Porgera,” he said.
“I can assure our country that this is a far-superior and better deal, meaning our landowners and Enga provincial government will get more, and the balance of equity through Kumul Minerals will mean we hold majority in equity.”

4 comments

  • PMJM please also intervene into the current negotiations at Lihir gold mine the biggest gold mine in the Asia Pacific and fifth gold producer in the world this is where the money is.

    There are currently 2 groups the LMALA asso iation reinstated by the PNG Courts and the mining operators SML6 tenament(CRA) groups. The company will be rolling out its goodies for its tenament groups July 2021. Leaving out LMALA which has been at the begining of the mines operations.

    24 years now big ounces of gold being shipped out and only half of the Lihir ring road sealed power supply only to 1/4 of the island.

    For the mine or plant site relocatees some already have their own families and have built their own houses. The mine has not fufilled the initial agreement to build houses very big delays.

    Everything happening silently and peacefully until policemen brought in by the mine operator to provide security for the CRA agreement rollout kill a company hired personnel bringing attention to the island.

    PMJM Lihir needs you to intervene and address our issues. You have done well for Porgera please do the same for Lihir we have suffered for too long.

  • It is a good start from Porgera Mine in order to get more benefits from our Natural Resources. I comment the Pangu Pati led government for the excellent job for taking back PNG for Papua New Guineans

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