Despite cost of operation challenges, the Lihir Gold Limited on Lihir Island in New Ireland province has paid a healthy Corporate Income Tax to the State.
Lihir Gold Limited, is a subsidiary of Newmont Corporation and has paid K230, 876, 334 to the Internal Revenue Commission (IRC) yesterday, Wednesday 30th July.
Meanwhile, Prime Minister James Marape commends the good outcome of the operation at Lihir Gold Limited and appreciates this payment to the State.
“Such revenues are critical to our government’s efforts to invest in infrastructure, education, health and rural development especially as we mark our 50th year of independence,” says Prime Minister Marape.
“This is the type of partnership we want with the resource sector- one that delivers for both shareholders and citizens.”
Prime Minister Marape also commends Newmont Corporation for demonstrating a great willingness to cooperate with the government since assuming control of the mine.
Meanwhile, the announcement of the Corporate Income Tax payment was done at the PNG RESOURCE WEEK Resource Summit today at the APEC Haus, Port Moresby city.