At last, Porgera Gold Mine to reopen
News that matter in Papua New Guinea
At last, Porgera Gold
Mine to reopen
PORT MORESBY: The reopening of the multi-billion-kina
Porgera Gold Mine in Enga will now move ahead following the signing of the
long-awaited shareholders agreement and security deed by the Mineral Resources
Enga yesterday (Aug 18, 2022).
According to the mine
developer, Barrick Niugini Limited (BNL), the agreement was the only delay
holding up the reopening of mine operations since April.
The mine has been closed
since April 2020 following the Government’s decision not to renew BNL’s special
mining lease.
The news break was published by The National:
Shareholders’
agreement signed, Porgera set to reopen
August 19, 2022The
NationalBusiness
THE Porgera gold mine in Enga will now be
reopened following the signing of the shareholders’ agreement and security deed
by Mineral Resources Enga (MRE) in Port Moresby yesterday.
According to developer Barrick Niugini Ltd(BNL), the agreement had been the
only delay holding up the restart of mine operations since April.
The miner and Kumul Minerals Holdings Ltd (KMHL) signed the shareholders’
agreement in April but MRE finally signed yesterday.
Chief executive officer Mark Bristow had said once the shareholders’ agreement
and other associated agreements were signed, BNL would commence with
incorporation of the new project company – New Porgera Ltd.
Bristow had added that they would also submit an application to the Mineral
Resources Authority (MRA) for a new Special Mining Lease (SML).
Prime Minister James Marape said the long overdue opening of the mine was finally
in sight since its closure in 2019.
Enga governor and MRE director Sir Peter Ipatas flanked by fellow director
Nixon Mangape and Porgera-Paiela MP Maso Karipe with others, said the
resettlement of the special mining lease (SML) and the lease for mining
purposes (LMP) landowners needed to be addressed by the Government.
“It has taken us a long time to actually come to signing the document because
if you see the PPCA (project commencement agreement), there was an allocation
of the free carry but not specified. We insisted that it be written down on
paper so that everyone in the Porgera valley and the country know what the
split is in terms of equity that has been agreed to.
“The next key issue is resettlement, we can’t have our people continue to live
in the SML area, because they are living in the SML area, the illegal miners
are also being accommodated.
“Now that there is provision in the agreement for resettlement, we have signed
off, but we want to also take it up to the State to ensure that resettlement
does take place quickly, for 30 years there has been no relocation, very little
resettlement, this time we want to see real resettlement,” he said.
He said when they went to the development forum all those issues would be
brought up but an initial letter from MRE would be going to the prime minister
to address those issues.
MRE wants 40pc stake
August 19, 2022The
NationalBusiness
By PETER ESILA
MINERAL Resources Enga
(MRE) wants a 40 per cent share in the Porgera gold mine, an official says.
MRE director Nixon Mangape said in Port Moresby yesterday in relation to the
development forum for the new Porgera mine after they signed the shareholders
agreement.
“During the development forum, we will ask the prime minister to increase (our
stake) from 15 per cent to 40 per cent.”
Barrick Niugini Ltd owns 49 per cent share of the Porgera while Kumul Minerals
Holdings Ltd(36 per cent) and MRE (15 per cent).
He said MRE would ask Prime Minister James Marape to increase their share in
the project by 25 per cent to 40 per cent which would lessen the State’s share
to 11 per cent.
“On behalf of 10,000-plus SML (special mining lease) landowners, and the people
of Porgera and Enga, I thank Prime Minister James Marape on taking back
Porgera.
“We have been spectators on our own land for 30 years,” he said. Mangape said
of the 15 per cent, five per cent was for the Enga provincial government, 7.5
per cent for SML landowners and 2.5 per cent for LMP (lease for mining purpose)
landowners.
He also appealed to landowners to stop fighting in the valley and prepare for
the reopening of the new Porgera mine.
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