Miner Promises to Follow the Proper Procedures of Acquiring lease

by PNG Business News - March 22, 2021

According to an official, the Wafi-Golpu Joint Venture (WGJV) will follow the proper procedures before its application for special mining lease 10 is approved.

David Masani, WGJV's principal community engagement advisor, stated this during the company's numerous scheduled meetings with communities that would be impacted by the K18.4 billion gold-copper project.

People were using mainstream and social media to speak about the advantages and procedures, according to Masani.

“Our province is jumping ahead in the process, talking about benefits, businesses and contracts,” he said. “We are not following due process; the mandated process by the government.”

Moses Mambu, a representative of the Mineral Resource Authority, explained that the environmental permit was just one step in a longer phase.

“An environment permit does not mean the company can now develop this project,” he said.

According to Mambu, the application for SML 10 that was submitted in August 2016 is still with the government and will go through a rigorous process before being granted.

A mining development contract will be signed, and a memorandum of agreement (MoA) will be developed through a developmental forum between the national, provincial, and local governments, landowners, and WGJV.

“This agreement is yet to eventuate,” he said. “And two key benefits to be discussed under this agreement are royalties and equity. These are only for people living along with the pipeline footprint, SML area or the tailings outfall.”

The fiscal stability agreement and the State equity acquisition agreement, according to Mambu, are two other agreements that need to be achieved.

“Such things are to be considered before granting the SML,” he said.

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PNG Business News - June 20, 2022

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PNG Business News - June 27, 2022

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