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Newcrest Affirms Support For Economic Growth



Newcrest’s Lihir Operations general manager Chris Jordaan said Newcrest Lihir will continue to work with the government to fulfill their development aspirations.


Mr Jordaan mentioned this to Mining Minister Johnson Tuke and New Ireland Governor Sir Julius Chan when they attended the first New Ireland provincial executive council (PEC) meeting for the year.


Present at the meeting were members of the Nimamar LLG, members of the Provincial Implementation Committee, the LLG administration and landowner representatives.


“Your visit is an indication of the strong partnerships we have and the importance of working continuously on building our relationship for the benefit of our stakeholders – importantly the people of Lihir and New Ireland Province.


“We are aware of the major challenges facing this province and we stand committed to work together with all tiers of government, based on transparency, accountability and good governance,” Mr Jordaan said.


As an indication of the support, during FY2019, Lihir paid K82 million to landowners and New Ireland provincial government and a further K151 million in tax contributions, which included K128 million in salaries and wages tax.


This is a testament to the hard work of Newcrest’s Papua New Guinean employees who took home K228 million in salaries and wages to their families. Lihir’s workforce includes – 5000 employees and contractors, approximately 90 per cent of which are Papua New Guinean.


The mine also generated significant flow on benefits for the PNG economy by engaging 105 Lihirian companies and 351 other Papua New Guinean companies to provide a wide range of goods and services, which amounted to payments of K810 million in the same period.


In addition to taxes, royalties, employment opportunities and supporting local companies, the mine is amongst the major contributors of foreign exchange into the country. “In FY2019 the operations contributed US$361 million to the national account through acquisition of K1.22 billion of foreign currency,” it stated.


Mr Jordaan added: “We strongly believe that a strong mining industry has a vital role to play in achieving the visions and development aspirations of the government of PNG, New Ireland Province and especially for Lihrians who continue to support the mine operations.” Continue reading at https://postcourier.com.pg/newcrest-affirms-support-for-economic-growth/ | Post Courier

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