K110mil lost after closure

LOCAL contractors of Porgera Joint Venture (PJV) and others benefitting from the Porgera mine lost around K110 million since the mine closed two years ago, an official says.
Porgera Chamber of Commerce and Industry president Nickson Pakea said it included around 700 small-to-medium enterprises (SME) and 176 contractors.
“Most of the contractors went through difficult situations (when) banks recouped (vehicles) on lease or loan,” he said.
Pakea urged the Government to provide “relief funding to rescue the business losses”. “The K100 million Business Development Grant declared by the Government should be (provided as) relief funding to the SMEs (affected by) the mine shut-down,” he said.
“We want the State to set aside this funding for SMEs.
“We also appeal to the Mineral Resource Enga to sign the (outstanding) shareholding agreement (to allow the reopening of the mine) as soon as possible.”
Pakea said the contractors, mine employees and people in the Porgera Paiela needed assistance.