Wafi-Golpu Talks Near Completion, Says PNG PM Marape
Papua New Guinea Prime Minister James Marape has announced that discussions on the K18 billion Wafi-Golpu project in Morobe are expected to conclude by Sept 16. He stated that negotiations were in their final stages, with only three key issues left to resolve.
According to Marape, the mine development contract will be issued before the special mining lease. Addressing Parliament, he emphasized that under his leadership, every major resource project must ensure PNG beneficiaries receive at least 55 per cent of total benefits to maximize economic returns for the State, landowners, and businesses.
Marape noted that negotiations with investors, particularly Harmony Gold and Newmont, have been detailed and at times challenging. He stressed that while investors aim to protect their financial interests, the Government remains committed to securing a fair deal for PNG over the mine’s expected 40-year lifespan.
“We will not sign an agreement that doesn’t give PNG the returns that we deserve,” Marape said. He added that a letter had been sent to the chief executive officers of Harmony Gold and Newmont, making it clear that the Government would not compromise on the remaining issues.
The Prime Minister also raised concerns over the Lihir gold mine, where the Government has received limited corporate tax revenue despite global gold prices exceeding US$3,000 (about K12,150.60) per ounce. He stated that while PNG respects legal agreements, past mistakes would not be repeated.
Once the Wafi-Golpu negotiations are finalized, Marape assured that the Government would work with landowners to complete the community benefit agreement.
Also read
Post a Comment