Revised agreement ends Barrick’s observer status

Porgera Mine operator Barrick Niugini Ltd has agreed to be a party to the project’s memorandum of agreement (MOA).
The agreement was reached last Wednesday in Kokopo, where the parties met discussed a revised agreement.
The company agreed to call by landowners and the State to be a party, having been an observer only since 2006 when Barrick took over the project from Placer Dome.
The agreement by Barrick means that the company is now obliged to honour its commitments listed under the revised agreement.
The commitments include resettlement exercise, training and development and supply and procurement.
Despite not being a party to the agreement since 2006, the company still delivered benefits like training and localisation and business spin-offs under the mining development contract (MDC).
The company also delivered other benefits through the compensation agreement and tax credit scheme programmes.
Barrick Niugini country manager Dr Ila Temu said the company was looking forward to working with all stakeholders to deliver its part of the deal.
Mineral Resources Authority acting managing director Nathan Mosusu commended Barrick Niugini for committing itself to the landowners of Porgera mine and other stakeholders.
“Barrick is a major player in the industry and has always been an important contributor to Papua New Guinea’s economic wellbeing,” he said.
“The company’s commitment to delivering benefits to our stakeholders, especially our landowners, is a plus for the country.”