Prime Minister Hon. James Marape said today that the Government is expected to make a major announcement concerning the Wafi-Golpu Mine project in Morobe. This eagerly awaited announcement is set to take place during the forthcoming PNG Mining and Petroleum Conference scheduled for next month in Sydney, Australia.
The Prime Minister said this during a press conference held earlier today, where he officially extended a warm welcome to Newmont Corporation, the world’s foremost gold company, into Papua New Guinea. Newmont Corporation has assumed control over all Newcrest operations in Papua New Guinea, including the Wafi-Golpu project.
“We’re now at the stage where the principle of what constitutes the Mine Development Contract (MDC) and Special Mining Lease (SML) is waiting to be agreed upon,” Prime Minister Marape said.
“We want to have these two key documents ready at the same time, and we’re hoping that at the December Mining and Petroleum Conference, we will make an announcement to the market.”
Expressing his confidence in the process, Prime Minister Marape noted that stakeholders were able to successfully collaborate in creating an MDC and SML for the Porgera Mine in Enga, and he believes that similar progress can be made for the Wafi-Golpu project.
In recognition of the collaborative efforts, Prime Minister Marape expressed his gratitude to Wafi-Golpu partners Harmony, Newmont (formerly Newcrest), and Kumul Mineral Holdings for their commitment to working within a defined timeline.
Prime Minister Marape revealed that a 36-month timeline has been stipulated for the partners to reach a Final Investment Decision, underscoring the State’s vested interest in advancing this pivotal project.
“We want to make some good announcements at the mining conference in Sydney,” he said.