Mine resumption

The NPPA confirms that all parties are committed to reopening the mine at the earliest opportunity, in line with the terms of the Porgera Project Commencement Agreement and the New Porgera Limited Shareholders Agreement both concluded in 2022.  

Porgera hosts an orebody with measured and indicated resources of 10 million ounces2 and inferred resources of 3.4 million ounces. After initial ramp up and optimisation of the Wangima pit, the mine is forecast to produce an average of 700,000 ounces per year, achieving a milestone towards its potential Tier One3 status. 

Barrick Gold Corporation Chief Executive Officer Mark Bristow has urged all Papua New Guinea parties involved in the Porgera Mine reopening negotiations to complete the process by the end of the first quarter 2023. 
 
Bristow was in the country as part of his quarterly visits to all Barrick owned and operated mines.