Prime Minister James Marape has commended Lihir Gold Limited (LGL), a subsidiary of Newmont Corporation, for its substantial corporate tax payment of US$55.8 million (approximately K213 million) to the Internal Revenue Commission (IRC), highlighting its ongoing commitment to contributing meaningfully to the national economy.
The payment, made on 30 July, was remitted directly to the Bank of Papua New Guinea, with the IRC listed as the beneficiary. It represents the second instalment under LGL’s Additional Profits Tax (APT) obligations for the current fiscal year.
Prime Minister Marape praised LGL’s timely and transparent compliance, stating: “I commend Lihir Gold Limited for honouring its tax obligations with such a significant remittance.”
“This payment of over US$55 million in corporate tax reflects responsible corporate citizenship and shows what can be achieved when resource companies operate within our legal and fiscal framework,” he added.
Marape said that such revenues are critical to the government’s efforts to invest in infrastructure, education, health and rural development—especially as the nation marks its 50th year of independence.
“This is the type of partnership we want with the resource sector—one that delivers for both shareholders and citizens,” he said.
The prime minister also highlighted the historic nature of how the payment was made:
“I’m happy that Newmont is now finally transferring corporate tax in actual cash to the IRC,” he said. “From what I have been advised, this marks a significant departure from previous practice.
“In the past, although some tax was paid, much of it was rebated through GST refunds. This payment is a positive step forward—particularly for a mine where the state does not hold equity and where all national revenue is derived from taxes, including corporate income tax, personal income tax, GST and employment-related levies. I look forward to more of such direct contributions.
The state has had no equity in this major gold project since its inception in 1997, Marape noted.
“My government made an amendment to the Mining Act in 2020, and since then, all production areas—including at Lihir—have in-built observation systems, allowing the state to know exactly how much gold is being produced.”
Marape also commended Newmont for demonstrating a greater willingness to cooperate with the government since assuming control of the mine.
“Since coming on board, Newmont has shown a stronger propensity to work with government. I want to sincerely thank them and acknowledge their corporate counsel and leadership for fostering this more transparent, constructive partnership with the state. This is the kind of engagement we welcome,” he said.
Marape reiterated his government’s commitment to fostering a fair and predictable fiscal regime that encourages investment while ensuring Papua New Guineans benefit equitably from the nation’s natural resources.
“We want to provide a stable and transparent environment for investment, but we also want a fair return to our people. I thank Newmont and Lihir Gold for their continued cooperation and look forward to further collaboration in advancing our shared development goals,” he said.
The Marape-Rosso Government continues to drive reforms aimed at increasing transparency, efficiency and equity in resource taxation, while encouraging reinvestment and sustainable development across Papua New Guinea.
