Revised agreement beneficial to landowners: Chan

MINING Minister Byron Chan says a revised agreement regarding the Tolukuma gold mine in Central will see greater benefits for the landowners.
During the signing ceremony facilitated by the Mineral Resource Authority in Port Moresby yesterday, he thanked the efforts of Central Governor Kila Haoda and the people of Goilala.
“I want to thank you for your commitment and dedication in making the events come to pass. The details of the revised MoA reflects your people’s genuineness to share the benefits derived from the Tolukuma mine,” Chan said.
“The mining project agreements are a benefits-distribution document. This is where stakeholders commit to each other and the project on their various commitments ranging from royalty distribution to infrastructure,” he said.
“The Tolukuma agreement is reviewed every five years with the first review undertaken and completed in 2012.  The current agreement was initially negotiated between stakeholders of the project including the previous owner Petromin PNG Holdings Limited who diverted their ownership of the project in 2014 and saw the entry of new owner Asidokona in early 2015.”
Chan commended Asidokona for its confidence to invest in the country and to partner local stakeholders in the mina area for their mutual benefit.
He said the Government recognised the concerns raised by the Yulai landowners association and would cater for them in the revised agreement after appropriate discussions were held.