‘Wafi-Golpu equity, royalty shares being discussed’

Business

THE Government and project developers for the K18.5 billion Wafi-Golpu project in Morobe are yet to agree on equity and royalty shares, Mineral Resource Authority (MRA) managing director Jerry Garry says.
Garry told The National yesterday that negotiations would resume this week but details of negotiations would not be disclosed until agreements were reached.
“We are still waiting on a few fiscal agreements or settlements,” he said.
“Sometime this week, negotiations will recommence and hopefully we can agree on the equity and royalty shares issues.
“While negotiations are in progress, we have to protect the details so I cannot disclose anything but it will come to light when the parties reach an agreement.”
Prime Minister James Marape had said there was no rush in getting the project off the ground, highlighting the major issue of mine waste disposal system.
Morobe prefers the terrestrial waste dam while the Government favours the deep sea tailings placement (DSTP).
Marape had told the people of Morobe that “we understand your concerns on DSTP and benefit requirement for locals”.
“We are not in a rush,” he said.
“We will go through that until every party at the table is satisfied and their concerns have been heard.
“I is a serious matter and needs a lot of time for us to secure a deal (that) is good for everyone.”