Photo credit: Zijin Mining - Aerial view of the Porgera gold mine
The re-opening of Papua New Guinea's Pogera Mine must be accelerated as it is a key contributor to the foreign exchange says, BSP Financial Group (BSP) CEO Robin Fleming.
The mine has been closed since 2019, but a reopening is imminent after representatives of Mineral Resources Enga and landowners recently signed the shareholder agreement.
Foreign exchange dynamics and the Gross Domestic Product (GDP) will alter with the reopening of the mine, according to Mr. Fleming, who spoke to FM100/Hot97FM News.
The expansion of the Papua LNG Project and the development of the P'nyang Gas Project are two more significant extractive sector initiatives that Mr. Fleming says would help the economy.
According to him, the economy would be stimulated by these projects alone when they become a financial investment programme in the third or fourth quarter of the fiscal year 2023.
Reference: Pacific Mining Watch (22 August 2022). “Re-opening Porgera Mine will boost PNG Economy: Fleming”.
