Photo credit: PNGEITI - Porgera Mine
Before the end of this year, the Porgera Mine in Papua New Guinea's Enga Province is anticipated to begin operations.
Prime Minister James Marape told the media recently that Porgera is one of the economic assets that must start, apart from Wafi-Golpu, Papua LNG and P’yang Gas.
He said that the Mineral Resource Enga, landowners, and the Enga Provincial Government had several legacy difficulties with Porgera.
The National Government, Barrick Niugini Limited, and Kumul Mining are hoping that the affected parties—the landowners of Porgera and the Enaga Provincial Government—can quickly reach an agreement over sharing of their 15 percent benefit, which was provided without charge.
According to Mr. Marape, the country should profit overall from the opening of the new mine at a rate of 51%.
He said that before the election, his administration had sanctioned K700 million over seven (7) years to build infrastructure in the Porgera Valley.
The Porgera Mine was shut down in April 2020 after the mining lease ran out, and it has been in a care and maintenance condition ever then.
Mark Bistrow, CEO of Barrick Niugini, stated two weeks ago that maintaining the mine was exceedingly expensive.
For maintenance and upkeep, he claimed it costs K35 million every month.
Mr. Marape stated that the Papua LNG project is moving to front-end engineering and design, or FEED, and that production is anticipated to begin in 2024.
Reference: Pacific Mining Watch (2 August 2022). “PNG's Porgera Mine to Start operations this year”.
