The first step towards reopening of the new Porgera Mine has started today following a Security Forum where leaders and security forces appealed to warring tribes surrounding the mine to stop their tribal conflicts, which affects the mine, businesses and the Porgera Valley. “The National Government is working day and night to ensure the mine is reopene...

President and CEO of Barrick Gold Corporation, Mark Bristow, has on Monday (17.07.23) met with Prime Minister Hon. James Marape to discuss recent progress and the status of the matters remaining to be completed in anticipation of the reopening of Porgera Mine. Prime Minister Marape welcomed Mr Bristow’s statement that Barrick was committed to PNG “for ...

K92 Mining Inc. is pleased to announce production results for the second quarter (“ Q2 ”) of 2023 at its Kainantu Gold Mine in Papua New Guinea, of 30,794 oz AuEq or 27,405 oz gold, 1,526,547 lbs copper and 34,001 oz silver, representing an increase of 18% from Q2 2022 and 43% from Q1 2023, respectively. Sales during the quarter were 28,141 oz gold, 1,657...

The Government of Papua New Guinea, through the Mineral Resources Authority, has granted six exploration licenses to PanAust, the parent company of Frieda River Limited. Mining Minister, Sir Ano Pala, stated, "The approval of these exploration licenses is a demonstration of the government's commitment to move the Frieda River Project forward." PanAu...

Minister for International Trade and Investment, Hon. Richard Maru says there will be no merger between the Newcrest Mining Limited and the Newmont Corporation unless the National Interest Test requirements are met. Minister Maru said this recently in his meeting with the high-level Executives of Newcrest Mining and Newmont Corporation including the Presi...

First revenues from the CCL project expected in 1H CY2024. Mayur Resources Limited is pleased to advise that it has commenced pioneering and site enabling construction works at its Central Cement & Lime Project (the CCL Project) in the Central Province of Papua New Guinea. Construction crew, mobile machinery, and building materials arrived at th...

K92 Mining Inc. is pleased to announce that the Company has set its inaugural energy and greenhouse gas (“GHG”) emissions reduction target as part of its ongoing overall sustainability commitments. After completing detailed energy and GHG forecasts for its Stage 3 and Stage 4 Expansions, and identifying opportunities for energy reductions, the Company ...

Prime Minister Hon. James Marape has recently commended Barrick Niugini Limited for agreeing to pay the base tax that has been an outstanding issue for some time. In doing so, the Prime Minister also conveyed his high commendations to Barrick for its steadfastness in reopening the mine and open-mindedness in its negotiations with the government on reve...

Barrick (Niugini) Limited (BNL) and the Internal Revenue Commission of Papua New Guinea (IRC) are pleased to announce that BNL, Barrick Gold Corporation, and the IRC have settled all disputes and issues relating to old Porgera tax matters on terms satisfactory to the parties. Although BNL and Barrick had the option of appealing the objection assessment...

Photo: Porgera gold mine in PNG's Enga Province (Barrick) The PNG Chamber of Mines and Petroleum (“the Chamber”) congratulates the Internal Revenue Commission (IRC) and Barrick (Niugini) Limited (BNL) on settling all disputes and issues relating to old Porgera tax matters. This follows the announcement of a Deed of Settlement earlier this week, sign...

Photo: Operations continue at the OTML Mine. Ok Tedi Mining Limited (OTML) brings 100% of its sales revenue into the country and provides an average of more than US$600 Million in foreign currency annually into the Papua New Guinea market. This year, the Company has already provided US$272 Million into the PNG market as at June 20th. In 2022, OTML s...

Photo: Panguna Mine The Autonomous Bougainville Government will not allow foreign investors on Bougainville to breach its laws to exploit its people and resources. Bougainville President Ishmael Toroama made this statement following the Bougainville Executive Council’s decision to refuse the mineral license applications by joint-venture entities inv...

PNGX, Papua New Guinea’s national stock exchange, welcomes the statement by Hon. Richard Maru OBE, MP, Minister For International Investment and Trade on 14 June 2023. Newcrest is an important listing on PNGX, representing the company’s commitment to the country from which it extracts significant resources. PNGX would welcome a continued listing of the...

Photo: Porgera Mine New Porgera Limited (NPL) is pleased to announce that it recently filed an application with the Mineral Resources Authority (MRA) for a Special Mining Lease and supporting tenements for the Porgera gold mine. Chairman of Kumul Minerals Holdings and Director of New Porgera Limited, Dr IIa Temu, hailed the lodgment of the applicati...

Parties to the K92 Mining project Memorandum of Agreement (MoA), successfully concluded a two-days consultative meeting in Goroka on May 31-June 1, creating a pathway towards finalizing the MoA that was initialed in 2020 in Kokopo, East New Britain Province.  The parties are the State, the Eastern Highlands Provincial Government (EHPG), the Agarabi Rur...

Photo: PNG Government Secures 60 Percent in Wafi-Golpu Mine Project, PM Marape announces The Papua New Guinea Government has finally settled on the total benefit sharing at over 60 per cent from the Wafi-Golpu project. Prime Minister James Marape, in addressing the Morobe Tutumang in Lae, said the total benefits sharing included taxes, equity, royal...