Photo credit: PNG Chamber of Mines and Petroleum
Newcrest Mining, whose interests in PNG include the Lihir Gold mine and a 50% share in the proposed WafiGolpu project with Harmony Gold Mining Company Limited, has a long-standing partnership with PNG.
Newcrest MD and CEO, Sandeep Biswas, travelled to Port Moresby recently and met with Prime Minister James Marape, during which he reaffirmed the company’s deep commitment to PNG through its operations.
“Newcrest is pleased that it has been able to continue to make a significant contribution to the PNG economy throughout the challenges of the global pandemic. To date, we have had no material disruptions to production, and I would like to take this opportunity to thank the PNG Government for its support throughout a very challenging time”, said Mr Biswas following his meeting.
“I would also like to thank our employees, contractors and business partners for their resilience and flexibility, with extended rosters and time away from their families to support our Lihir operations’.
Newcrest employs approximately 4,500 people at its Lihir operations, with about 90% of those being from Papua New Guinea.
Newcrest’s investment in PNG continued despite COVID19 challenges. In the last financial year, K180 million was added to operational costs to mitigate the impact of the pandemic on our Lihir operations and employees.
In addition, over K1bn was spent with PNG suppliers, with more than K400m going to Lihirian vendors alone. Newcrest also contributed K284m in taxes, K99m in royalties and contributed USD450 million to the national account through the acquisition of K1.574bn in foreign exchange.
Newcrest established our Community Support Fund in April 2020, to support the Government and communities’ preparedness and response to COVID-19 across the jurisdictions we work in.
Since it's inception, 22 projects in PNG have been approved to the value of over K17m, and have been implemented primarily in response the priorities of the communities we work in, focusing on delivery of health care supplies and equipment.
We have worked provincially in partnership with the New Ireland, East New Britain, Morobe and NCD PHAs, and nationally in partnership with donors such as UNICEF.
“Most recently we have turned our attention to supporting the roll-out of the COVID-19 vaccine in New Ireland. Our implementation partner Australian Doctors International are working very closely with the Provincial Health Authority to overcome vaccine hesitancy and give the people of New Ireland the opportunity to understand the benefits of getting vaccinated”, said Mr Biswas.
Mr Biswas thanked the PM for his ongoing support for Lihir and commitment to progressing the discussions on the permitting of the Wafi-Golpu project.
“Newcrest looks forward to a long partnership with Papua New Guinea, which will deliver benefits to both the people and the Government of this country for many years to come,” he said.
Lihir Gold Limited is very well positioned for the future, with an aspiration of a million ounces a year in the coming years.
Article courtesy of the PNG Chamber of Mines and Petroleum
