Photo credit: Newcrest With the help of royalties, taxes, a production levy, and vendor agreements, PNG has received K1.5 billion from Newcrest's Lihir Gold Mine in the province of New Ireland. Speaking during the recent induction of the Members of the 11th Parliament in Port Moresby, Newcrest PNG country manager Stanley Komunt stated that the busin...

Photo: Philip Samar  According to the PNG Chamber of Mines and Petroleum, the government must make greater efforts to safeguard the economy by encouraging exploration to find new projects in the resources sector. Chamber Vice-President Philip Samar said that the resource sector has made direct contributions to the government totaling K2.9 billion to...

Photo: Ok Tedi Mine According to the Chamber of Mines and Petroleum, the resources industry contributes 39% to the nation's gross domestic product (GDP). As current mines near their end of life, such Ok Tedi, which will stop operating by 2030, vice president Philip Samar said exploration was essential for the industry's survival. “Exploration is ...

Photo credit: Kumul Petroleum - Ila Temu The government must now think about creating a strategy to facilitate the raising of equity capital for fresh resource projects. Dr Ila Temu, country executive director for Barrick Niugini Limited, stated that one of the major challenges that have to be resolved is the financing of equity for resource project...

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 e...

Photo credit: K92 Mining Inc K92 Mining Inc is pleased to announce that it has published its 2021 Sustainability Report. This is K92’s third annual sustainability report, outlining the environmental, social and governance (“ESG”) practices and performance of the Company. The report builds on the progress of our reporting and disclosures including key m...

The Shareholders Agreement has finally been approved in Port Moresby by Mineral Resources Enga and the Landowners of the Porgera Gold Mine in Enga Province. Nixon Mangape, director of Mineral Resources Enga (MRE), stated that although MRE had been expected to approve the shareholder's agreement four to five months prior, there were still certain concer...

Photo credit: Pacific Mine Watch Prime Minister Hon. James Marape has welcomed the signing of the Porgera Gold Mine shareholder agreement by Enga Provincial Government-owned Mineral Resources Enga (MRE) and landowners in Port Moresby today (August 18 2022). He said it was a “milestone achievement” towards reopening of the Porgera mine which has been...

Photo credit: Ok Tedi Mining Ok Tedi Mining Limited (OTML) is committed to ensuring the closure of the mine is done in accordance with the approved mine closure plan when the mine ceases production. The plan which has been developed and updated since 1997 includes the decommissioning of mining infrastructure, the rehabilitation of operation sites, t...

The Mining Advisory Council is now evaluating the mining lease application for the Mambare Nickel Project, one of the nation's future nickel and cobalt projects in Northern Province. According to Jerry Garry, managing director of the Mineral Resources Authority, no decision has been taken regarding the nickel project's start of operations as of yet. ...

Photo credit: Post Courier - Mineral Resources Authority Managing Director Jerry Garry New mining companies looking to invest in the country are currently faced with a significant barrier due to the lack of infrastructure development in the nation. Although there is a significant demand for nickel cobalt and other high strategic minerals, with price...

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 Pr...

According to Sir Peter Ipatas, the re-elected governor of Enga province, Mineral Resources Enga will not be rushed into signing the shareholders agreement. He said they do not want to rush the signing and will only sign when they are satisfied with a better deal. They are negotiating to get a better price, he claimed. “For years, the company has bee...

Photo credit: Geopacific Resources - Figure 1: Mining Lease exploration target areas Geopacific Resources Limited is pleased to provide an update on its exploration drilling campaign at the Woodlark Gold Project. Highlights  Drill holes in to the Talpos and Watou targets generated several positive results including:  Talpos  TARC220...

Geopacific Resources Limited (‘Geopacific’ or ‘the Company’; ASX: GPR) is pleased to provide an update on its activities and cashflow for the quarter ended 30 June 2022. Highlights  Trading recommenced on the ASX on 31 May 2022 following the implementation of an intensive business transformation program in response to the previously identified ma...

Photo credit: Kingston Resources Kingston Managing Director, Andrew Corbett, said: “The June quarter has been another period of significant activity, with the headline being the announcement of Misima’s much anticipated DFS results confirming the Project’s potential for a large-scale, long-life, low-cost gold mine. The DFS delivered total production of...