PNG's Porgera Mine to Start operations this year

The Porgera Mine in Enga Province, Papua New Guinea  is expected to start operating before the end of this year.

Prime Minister James Marape told the media yesterday that Porgera is one of the economic assets that must start, apart from Wafi-Golpu, Papua LNG and P’yang Gas.

He said for Porgera, there are many legacy issues with Mineral Resource Enga, landowners and the Enga Provincial Government.

The National Government, Barrick Niugini Limited and Kumul Mining hope concerned parties - landowners of Porgera and Enaga Provincial Government through the Mineral Resource Enga can arrive at a compromise sooner about sharing of their 15 percent benefit that was given at no cost.

Mr. Marape hopes that the new mine opens up with a total benefit at 51 percent to the country.

He said his government before going to the polls approved a K700 million for a period of seven (7) years to develop infrastructure at the Porgera Valley.

The Porgera Mine has been on a care and maintenance status since its closure in April 2020 when the mining lease expired.

Two weeks ago, Barrick Niugini CEO Mark Bistrow said it was very expensive looking after the mine on care and maintenance.

He said it costs K35 million a month to care and maintain.

Meanwhile, for the Papua LNG, Mr. Marape said the project is going to Front End Engineering and Design or FEED and production is expected to start in 2024.

NBC News /Pacific Mining Watch

Next : PNG's Enga Governor Ipatas wants 15 percent equity included in the Porgera Mine Shareholders agreement

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