Wafi-Golpu Project On Final Stages Of Negotiation

by PNG Business News - June 20, 2022

Photo credit: Wafi Golpu Joint Venture

The Wafi-Golpu project's State Negotiating Team is thought to be in the final stages of discussions with shareholding companies.

However, due to the National General Election, most of the work on the ground has been put on pause.

Any development forum procedure that arises following the successful completion of the mining development contract discussions, according to Mineral Resources Authority managing director Jerry Garry, will be effective after the elections.

“Right now the State Negotiating Team and the shareholding companies including Newcrest and Harmony Gold are very much in the final leg of negotiations.

“The details of the negotiations are confidential at this stage and we will have to wait until SNT and the development concludes this phase of work,” he said.

In the meanwhile, the Frieda River mine is expected to open in the fourth quarter of this year.

Mr Garry stated that nothing has progressed in the assessment process for Frieda River and that they plan to begin construction after Porgera and Wafi-Golpu are completed.

“Weare involved in what we called the state negotiation or the state-related negotiations. It does not only require the MRA officers but requires a full complement of state-related departments and agencies,” Mr Garry said.

“In this case, we would require the participation of the State Solicitors office, National Planning, Department of Finance, and key officials from the Department of Treasury, Internal Revenue Commission, Bank of PNG, Department of Labour and Employment, and the Department of Commerce.

“It requires all the state departments to be involved when it comes to assessing a mining project, particularly a major project such as the Freda River and Wafi-Golpu.”

 

Reference: Wohi, Lorraine. Post-Courier (15 June 2022). “Wofi-Golpu Project On Final Leg Of Negotiation”.



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