Tax issues on PNG's Porgera Mine being addressed: PM

 ALL outstanding issues which need to be fixed for the reopening of the Porgera mine should be resolved by March or April, says PNG Kumul Minerals Holdings Ltd chairman Dr Ila Temu.

“The only significant issue is the tax issue,” he said.

Papua New Guinea Prime Minister James Marape recently announced the appointment of an independent review panel to look into old Porgera tax issues relating to Barrick (Niugini) Ltd (BNL).

Tax issues on PNG's Porgera Mine  being addressed: PM

“The panel is making progress on the key issues they need to develop positions on before it can advise the government,” he said.

“I am confident that we will have all these issues resolved by the (end of March or beginning of April). But the actual reopening of the mine will depend on the (its) operational readiness.

“This is the call of the operator (BNL).

“Kumul is the major joint venture partner in the New Porgera Ltd.

“So from our perspective, we are happy with progress made currently.

“We continue to engage with State agencies who have carriage of the outstanding issues and are making good progress.

“We are pushing hard to get this finalised at the earliest.

“We have engaged very competent professionals in this field so we know they will provide the best advice to the Government.”

The outstanding issues include the application for the new special mining lease (SML), the transfer of the old SML and the cancellation of that SML by the Mineral Resources Authority, the new environment permit and the mining development contract.

“Things like that are on the State’s side to progress and complete. So we are driving those things to completion,” Marape said.


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