One of the positive outcomes of the Sinivit Gold Mine Memorandum of Agreement recent review was the increased benefits for the local landowners.
The one-week review was held at the Rapopo Plantation Resort between the developer, New Guinea Gold Limited, the landowners, representatives from the Mineral Resource Authority, Department of Commerce and Trade and the East New Britain Provincial Government.
The finalisation of the revised agreement was postponed to a later date due to some outstanding issues that needed more deliberations.
Company Director Greg Heaney and other company representatives were in Kokopo for the negotiations.
Mr Heaney said they were very happy with the negotiations and are now looking forward to developments in a very positive manner.
He said the agreement changes reflected better and more direct participation of the locals/landowners and that the spin-off benefits will be much better unlike the previous agreement.
Developer representatives agreed to some terms put forward by the other parties especially the landowners.
Topics discussed during the one-week gathering include environmental issues as well as more benefits and direct participation of the landowners and the company’s mine closure plan which MRA officials said was currently being undertaken and updated amongst others.
The final revised agreement is expected to be signed early next year.