MRA releases update on revised deals

THE Mineral Resources Authority (MRA) on Tuesday released an update on the status of all revised memorandum of agreements.
It highlighted the status of the agreements for operating mines and approved new mining projects.
Each of the operating mining projects have an agreement in place, which set out benefit-sharing arrangements between the Government, host provincial and local level governments (LLGs) and mine area landowners.
The agreements are reviewed periodically as agreed by the stakeholders. The process for reviews and negotiations is coordinated by the Mineral Resources Authority and involves the State Solicitor, departments of Treasury, National Planning and Monitoring, Labour and Industrial Relations, and Commerce and Industry.
Mineral Resources Authority managing director Philip Samar noted in the statement that six revised agreements had been completed and would be submitted to Cabinet by Mining Minister Byron Chan next month.
“This will be the first time that any government has submitted more than one revised memorandum of agreement in the past 10 years,” the statement said.
“The reviews for existing mines that are yet to be completed are for the Porgera and Lihir.
“We are confident that these will be completed and signed off in 2017.
“For new mining projects, the memorandum of agreement negotiations for the Woodlark mine has been completed while Solwara 1 will be attended to in 2017.”