Reviewed deal awaiting State Solicitor’s certification

MINING Minister Johnson Tuke says the reviewed memorandum of agreement for the Kainantu mine is awaiting the State Solicitor’s certificate of necessity.
He said the delay in the agreement was because due processes had to be followed.
The K92 Mining owns the high-grade, low cost underground mine in Eastern Highlands.
“The review is now with the State Solicitor,” Tuke said.
“Then it will go to the Mineral Resource Authority which will register it, do a position paper on it which I will take to Cabinet.
“That’s the final process.”
Prime Minister James Marape assured Parliament recently that the Kainantu gold mine in Eastern Highlands and two others would be a priority for the Government in 2022. He said it would ensure landowners and provincial governments in the project-impacted provinces received maximum benefits.
Eastern Highlands Governor Peter Numu welcomed the review of the mine’s project agreement.
“The review was carried out, concerned parties were involved, issues were sorted out especially to do with benefit-sharing.”
He understood that the Kainantu mine, though a new operation, had paid about K100 million in taxes from its exploration and production activities.
Numu said landowners and the provincial government had been waiting since last year for the review to be endorsed by the National Executive Council.
“At the moment, we are missing out big time,” he said.
“Under the review, there is a free five per cent equity share apart from royalties.”