Miner, landholders sign deals

Newcrest Mining Ltd’s wholly owned subsidiary Lihir Gold Ltd has signed new compensation, relocation and benefits sharing agreements with the mining lease area landholders at its Lihir gold mine in New Ireland.
The company announced to the market this week that the review of the previous agreements conducted over several years was sanctioned by the Mineral Resource Authority and identified key improvements to previous agreements.
It said the new agreements enhance socio-economic development outcomes for landholders and enable benefits to be distributed directly to their intended beneficiaries. “There will now be efficient and transparent distribution of compensation and benefits, without a material increase in quantum,” said the miner.
It said the agreements were structured to provide a direct and transparent relationship between the mine and landholders and were valid for the term of Lihir’s special mining lease.
Newcrest chief operating officer for PNG Craig Jones said: “These agreements build on the strong relationships developed with the mining lease area landholders over recent years and provides transparency of compensation, relocation and benefits sharing and clear accountability for the development agenda for Lihir Island.”
Team leader for 13 tenement and relocation, Newman Sana, said: “The signing of the agreements marks the dawn of a new era on Lihir.
“One of inclusiveness, empowerment and transparency for dealings with the landholders.”