Parties to meet, review structure

THE Department of Commerce and Industry will meet with the K92 Mining and landowners to review the landowner company structure and its plans, an official says.
Gabriel Pita, the acting first assistant secretary for the department’s commerce division, said this was to get a clear picture of what the landowners’ plans were, and align their plans with the company’s.
He is among those attending the weeklong memorandum of agreement review of the Kainantu gold mine in Eastern Highlands in Kokopo, East New Britain.
Under the agreement, the Department of Commerce and Industry will ensure that the K92 Mining submits a business development plan, and that business spin-off opportunities are (in order of preference depending on availability of skills and capacity) given first to businesses owned by landowners, businesses owned by the people of the Kainantu rural local level government, to businesses owned by people of the province and to business owned by Papua New Guineans.
Eastern Highlands Governor Peter Numu said the province was ready to go into business and benefit from the K92 mining project agreement.
He was referring to the State’s commitment in the K92 project agreement which is being reviewed this week in Kokopo.
Numu said his government could buy helicopters to be contracted to the K92 mine.
“It is for the people of the Eastern Highlands,” Numu said.
He expressed concern that external business interests could steal business opportunities for the people.
The K92 Mine took over the project from Barrick Niugini Limited two years ago, and has since been operating the mine.
Prior to that, the mine was owned and operated by Barrick Niugini Ltd.