Barrick Niugini Limited (BNL)

New Porgera Ltd gets environment permit

The Permit known as WE-L3 (923) EP-L3 (923) was previously held by the former operator BNL as WE- L3 (91) and WD- L3 (121).

The transfer of the permit was officiated by the Prime Minister James Marape and the Minister for Environment & Conservation Simo Kilepa, signifying the importance of benefit sharing, compensation covering environmental damages affected communities, and a step closer to the reopening of the mine.

Porgera benefits to be shared fairly, transparently

In a statement to the media, NPL states that the benefit sharing terms agreed between the State, Barrick Niugini Limited (BNL), Kumul Mineral Holdings Limited (KMHL) and Mineral Resources Enga Limited (MRE) to restart the mine ensures a transparent and fair distribution of the overall economic benefits that will be generated by Porgera over its 20-year mine life.  

New Porgera Shareholders’ Deal Signed

The shareholders’ agreement now only awaits the signature of Mineral Resources Enga (MRE) for the document to take effect, which would clear the way for the incorporation of a new Porgera joint venture company and the application for a new Special Mining Lease, a condition of the Porgera mine’s reopening. 
 
The new Porgera joint venture company will be owned 49 percent by BNL and 51 percent by PNG parties, including an increased equity stake for the Porgera landowners. 
 

Deal Advances Porgera Mine Reopening

The agreement was signed in a ceremony yesterday at Government House by Governor General Sir Bob Dadae on behalf of the State, Barrick Gold President and CEO Mark Bristow, and representatives of Kumul Mineral Holdings Limited and Mineral Resource Enga Limited.

Prime Minister, James Marape reaffirmed the Government’s commitment to the early restart of Porgera Mine with BNL as an equity partner and operator, and promised to ensure that BNL, as the investor, was provided the assurance required to move from care and maintenance to mine recommencement. 

Reduced Power Supply to Porgera Communities

Effective Friday 17 July, electrical power to Porgera communities will only be supplied between the hours of 6:00 pm to 6:00 am daily, until further notice.

BNL recognises this is a significant inconvenience to all community members, but regrettably the Company has no other option than to continue to reduce costs in light of the Government decision not to extend the Porgera Special Mining Lease, which forced the suspension of operations, and the consequent loss of operating revenue for the Company.

Mining firm suspends incoming international travel

BNL Executive Managing Director, Anthony Esplin, said the company had advised employees and public officials that incoming international flights would cease as of today, and that only a limited number of outgoing flights would continue, in order to repatriate some personnel to their home country.  

“It is important we recognise we all have a part to play in helping prevent the spread of the COVID-19 virus, and the precautionary restrictions on travel we have announced today are one way in which our company can assist the State in combatting this disease,” he said.