MRA expecting shareholders agreement for Porgera

A PORGERA shareholders agreement is expected soon with the state working closely with Mineral Resources Enga (MRE) and other stakeholders to finalise details, according to the Mineral Resources Authority (MRA).
Managing director Jerry Garry said MRE had refused to sign off the agreement earlier due to various issues which had halted progress towards the restart of the multi-billion Kina mine in Enga.
This is a key agreement that must to be signed in-order for a new project company for Porgera and the registration of interest for the exploration licence, special mining lease and other supporting tenements.
“The prime minister and the State team are working in close collaborations with MRE board, SNT (State negotiation team, KMHL (Kumul Mineral Holdings Ltd) and the Enga government to finalise and to sign off on the shareholders agreement,” Garry said.
“This will pave the way for the formal registration of interests in the Porgera assets, that is exploration licences, SML and supporting tenements by shareholding in the new Porgera Project Company with MRA.
“This will now pave the way for development forum and allow the new project as the legitimate operator of Porgera gold mine.” Prime Minister James Marape had asked landowners of the Porgera gold mine to bring their concerns to be discussed during a forum in the province this week.
This may be pushed forward to mid next month as arrangements are not finalised pending the signing of the shareholders agreement.