A recent meeting between Prime Minister James Marape and CEO of Barrick Gold Corporation saw both parties pledging total commitment to ensuring the Porgera Mine reopens smoothly.
CEO of Barrick Gold Corporation, Mark Bristow met with Prime Minister Hon. James Marape recently to discuss recent progress and the status of the matters remaining to be completed in anticipation of the reopening of Porgera Mine.
During this meeting the Prime Minister warm heartedly welcomed the sentiments of the Bristow who stated that he was “committed to PNG for the long run” and pledged that Barrick Niugini Limited would do anything under its control to meet the 16th September reopening date that was set by the Prime Minister.
The office of the Prime Minister has also announced that a development forum will precede the reopening within the coming weeks, this is to make sure all stakeholders are met to finish up on their negotiations, especially benefit distributions.
The Government has pledged an extra K900 million toward major gains from project benefits that averages to PNG beneficiaries getting 53 percent to Barrick Gold getting 47 percent in New Porgera. Both parties committed to fix legacy issues such as proper resettlement, increase land rates and compensation consistent to law, education and health developments, infrastructure developments, and a better law and order environment in Porgera and all project area footprint, including riverine and other project support areas.
To meet next month’s target, both parties committed to attend to all these matters at hand. The resource in Porgera can be easily harvested at over 500,000 ounces a year, capable of bringing millions of dollars back into the country at the high gold prices at present.