PM MARAPE WITNESSES FIRST POURING OF GOLD BY NEW PORGERA MINE

In a long-anticipated moment on Friday (23.02.24), Prime Minister Hon. James Marape witnessed and officiated at the first pouring of gold from the reopened Porgera Mine.

The New Porgera Mine, under renegotiated arrangements of SML 13, will see Enga landowners and provincial government and the State receive a combined equity share of 51 percent with the remainder (49 percent) will go to the developer. Out of the share to PNG, Enga landowners and provincial government will have 15 percent while Kumul Mineral Holdings Limited will keep 36 percent on behalf of the State.

A 3 percent royalty is also included for landowners over the 20-year life of the mine.

This is a huge increase from the previous five percent under the former agreement which has led to the Marape-Rosso Government’s insistence to close the mine and have a better deal re-negotiated for Papua  New  Guineans.  The  First  Gold  Pour  event  signifies  the  first successful step in the Government taking back more resource content for Papua New Guinea in the extractive industry sector.

“Today  marks  a significant  moment  where we are  witnessing  New Porgera Limited’s first gold pour and stamping of the first gold bar,” said the Prime Minister inside the gold processing plant.

He commended all stakeholders for their patience over the three-year shutdown while the Government was holding the negotiations.

“This is a very good, close cooperation between the Government and resource developers Barrick Gold and New Porgera.

“This first gold pour is the outcome of the Government, New Porgera Limited, Enga Provincial Government, and mine-affected communities working together. This is teamwork.”

Prime Minister Marape thanked President of Barrick Gold Corporation Mark Bristow and Barrick for understanding his government’s aspirations to get more out of PNG resources to put back into lifting the standard of living for Papua New Guineans and developing the country.

“I thank Mr Bristow and Barrick for their understanding which has led to this moment. If all major investors think like Mr Bristow, developing nations like PNG would arrive much faster at making their countries better places for their citizens to live in.

“Thank you New Porgera Limited and management for this milestone event – the beginning of many more gold productions to come.”

PM Marape also thanked the workforce of New Porgera Limited for maintaining the mine processing plant and facilities during the three- year shutdown.

“I want to sincerely thank you all for coming back to work when the new Porgera mine restarted operations.”

PM Marape gave the assurance that the Government would help support and relocate communities within the mine affected area.

The Prime Minister was accompanied to the First Gold Pour event by Minister for Mining Hon. Muguwa Dilu, Member for Lagaip-Porgera Hon. Amos Akem, Enga Governor Sir Peter Ipatas, and Mineral Resources Authority Managing Director Jerry Garry.

The first pouring of the gold signifies the actual production of gold at New Porgera Limited gold processing and production facility at Porgera in Porgera-Laigap district of Enga Province.