Prime Minister (PM) James Marape announced recently that the Government's Position Paper on the Wafi-Golpu Mine in Morobe Province has been submitted to Joint Venture Partners, Newmont and Harmony. He said the Government is now waiting for a response from the two companies before moving forward with the Mine Development Contract (MDC) and Special Mining Lease (SML). This announcement came after a meeting held on September 6th in Port Moresby city. Key attendees included State Negotiating Team (SNT) Chairman Dairi Vele, Deputy Prime Minister and Lae MP John Rosso, Morobe Governor Luther Wenge, and Community Development Minister and Huon Gulf MP Jason Peter. The SNT has been negotiating with the two joint venture partners to ensure Papua New Guinea secures a fair deal from the Wafi-Golpu project. Prime Minister Marape highlighted the importance of securing key benefits such as a 30% equity stake for PNG, financing for that equity, 3% royalty, local content requirements, and more. Marape emphasized the need to avoid any delays once the SML is issued, stating, “As we prepare to release the SML, work must start immediately, rather than being delayed as we have seen in other projects.” He also mentioned that the project is nearing its final stages, with only one or two meetings left before the MDC can be signed and the SML issued. Newmont and Harmony received the SNT’s recommendations on August 8, 2024, and the Government is waiting for their response. “We want to make sure that we get the total 55 per cent economic benefits we want to get out of the project,” Marape stated, referring to the Government's goals for the project, which is expected to operate for over 40 years. The Prime Minister stressed that lessons had been learned from other mining projects, such as Lihir Mine in New Ireland, which does not pay corporate tax. In response to Marape’s comments about the Lihir Mine, Newmont, which is part of the Wafi-Golpu joint venture, issued a statement: “Newmont is proud to be delivering on all tax obligations in PNG." "During the first six months of 2024, Lihir Gold Limited paid K58.5 million in corporate taxes." "From 2013 to 2023, Lihir contributed K441.5 million in corporate taxes to the PNG Government, out of K3.2 billion in total taxes, levies, and royalties.” The terms for the Wafi-Golpu project are laid out in a Framework Memorandum of Understanding (MoU) signed in April 2023, and outlines key benefits for PNG, including a 55% economic stake in the project, 30% equity for the State, with 10% carried equity for Morobe Province and local landowners, and a 3% royalty with no deductions. Other key provisions include an additional US$394 million committed by Newmont and Harmony for social and community infrastructure, and a requirement for over 80% local content during construction and operations.