Prime Minister Hon. James Marape has hailed the signing of four agreements on Friday, October 13, 2023, as a “giant leap” towards the reopening of the Porgera gold mine in Enga. The agreements signed between the State and New Porgera Ltd include the Mining Development Contract, Special Mining Lease 13, Fiscal Stability Agreement, and Escrow Arrangement fo...

The regulator of the Capital Market of Papua New Guinea, the Securities Commission of Papua New Guinea (SCPNG) recently granted exemptions for the merger between the Newmont Corporation and Newcrest Mining Limited to proceed after being satisfied that all the requirements of the regulator were met. “We have now reached an understanding which is now cov...

Mayur Resources Limited is pleased to provide an update on the construction of the Central Lime Project’s (CLP) wharf infrastructure. Following construction commencing in June 2023, the inner rubble core of the wharf has now largely been completed. Mayur has continued to engage ‘lock step’ with the Regulator on the wharf infrastructure and will continu...

K92 Mining Inc. is pleased to announce that it has entered into a loan agreement with Trafigura Pte Ltd, a market leader in the global commodities industry, pursuant to which Trafigura will provide a US$100 million senior secured loan to K92. In addition, the Papua New Guinea subsidiary of the Company, K92 Mining Limited, and Trafigura have amended and...

The National Government is committed to ensuring that the Porgera Mining Project commences operations before the end of this year. Mining Minister Hon Sir Ano Pala, said the government was in fact almost ready to grant the Special Mining Lease (SML) on 16 September, signaling the re-start of the mine. However, he said in the weeks leading up to that da...

The Board of Ok Tedi Mining Limited (OTML) has approved in principle a further mine life extension from 2033 to 2050. This marks a significant milestone for OTML, its shareholders and for Papua New Guinea in general and is a sign of the confidence the Board has in the company's ability to deliver over the next two decades. The approval is based on t...

Governor for Hela Province, Hon Philip Undialu on Friday Sept 08, 2023, presented his province’s position paper pertaining to the Porgera Mine Community Development Agreement (CDA), to the Mining Minister Hon Sir Ano Pala. The presentation was done at the Airways Hotel in Port Moresby, witnessed by Vice Minister Assisting the Prime Minister on State Ne...

The government has announced that it would propose an umbrella agreement to the landowners, impacted communities and stakeholders of the Porgera mine. The announcement was made in Alotau on September 7, 2023, by Vice Minister (VM) Assisting the Prime Minister, Hon Jimmy Maladina, in his closing remarks. He was speaking to landowners, impacted commun...

Governor for Western Province Hon Taboi Awi Yoto, this week presented his provincial government’s position paper, on the Porgera Mine Community Development Agreement (CDA) negotiation, to the Minister for Mining Hon Sir Ano Pala. The presentation was made in Alotau Milnebay province, where the State Team, landowners and impacted communities just conclu...

The government hopes to issue the Special Mining Lease (SML) for the Wafi Golpu project by October, 2023. Mining Minister Hon Sir Ano Pala, revealed this on Thursday in Lae, during the Wafi Golpu stakeholders consultative meeting. Sir Ano said there were only three processes left that needed to be completed before the SML could be granted. They are ...

Papua New Guinea will gain over 55 percent economic value in benefits, from the Wafi Golpu project, said Prime Minister (PM) Hon James Marape yesterday in Lae. The PM said this in his address to landowners and stakeholders of the Wafi Golpu project, who gathered at the Sir Ignatius Kilage Indoor stadium, for the project’s stakeholders consultative meet...

Mining Minister Honourable Sir Ano Pala, officially opened the Porgera Mining Project Development Forum, recently at the Enga Teachers’ College in Wabag town. He was accompanied by the Prime Minister Honourable James Marape, Enga Governor Honourable Sir Peter Ipatas, Vice Minister for Mining Honourable James Donald, Hela Governor Honourable Philip Undi...

The government has set aside K700m for infrastructure development and re-settlement programs for the Progeria Mine Special Mining Lease (SML) landowners. This money will be drawn down over a seven-year period. Prime Minister Honourable James Marape announced this recently during the project’s Development Forum at the Enga Teachers’ College in Wabag,...

Prime Minister Hon. James Marape has emphasised the need for all parties involved in the New Porgera Mine to avoid any further delays in reopening the mine. The call comes in the wake of a ruling recently by the Supreme Court against a court order issued last Friday, which had sought to halt the proceedings of the New Porgera Development Forum scheduled t...

Mayur Resources Limited is pleased to formally announce the appointment of Mr John McBride as CEO of Mayur’s Central Lime Project. The appointment of Mr McBride follows the recent agreement with Sir Mick Davis’ Vison Blue Resources to invest US$40m in the Central Lime Project for a 49% equity stake. Mr McBride has extensive experience in global materia...

Mayur Resources Limited is pleased to announce that it has executed a Term Sheet with Vision Blue Resources (“VBR”), a clean energy related investment firm led by Sir Mick Davis, for an investment of US$40 million for a 49% equity share in the Project. Mayur believes that the Proposed Investment will be sufficient to satisfy the total equity funding requi...