Wafi-Golpu project negotiations ongoing, says Garry

NEGOTIATIONS are still ongoing for the US$5.4 billion (K18.5 billion) Wafi-Golpu project in Morobe, Mineral Resources Authority (MRA) managing director Jerry Garry says.
Garry told The National that at this stage, all information were being treated as confidential.
Prime Minister James Marape before leaving for a trip to Australia earlier this month instructed Cabinet to make an announcement last Wednesday however that did not eventuate.
Marape had tasked Deputy Prime Minister Sam Basil to work with Mining Minister Johnson Tuke and the state negotiation team to bring the Wafi-Golpu negotiations to a close for the Government to sign an agreement with Harmony Gold Mining Company Ltd and Newcrest Mining Ltd.
However, Garry when asked by The National on the progress and if an announcement was expected soon said “negotiations are still in progress”.
“While negotiations are afoot, we are treating everything confidentially until agreements are reached before we release them into the public domain.”
Garry previously told The National that the State was hopeful it would finalise agreements in the first quarter of the year.
He said the SNT had been engaged in discussions for a mining development agreement where many of the items in the term sheet had been agreed on.
“There are one of two outstanding things that need to be agreed upon with stakeholders which included royalty benefits which the state wants to be set at eight per cent.
“The NEC (National Executive Council) decision is at eight per cent and the company is saying no and it’s offering 3.5 per cent only, so that’s where the negotiations are,” he said.