Porgera Project Commencement Agreement (PPCA)

The Prime Minister delayed his scheduled visit to Oro Province this morning to observe this important signing. 
 
These are the Deed of Amendment to the Porgera Project Commencement Agreement (PPCA), and the Deed of Escrow to park 10% of the project equity.
 
The PPCA was deemed concluded when Mineral Resources Enga signed on 3 February 2022. The PPCA is the central and structural document designed to elaborate and deal more specifically with what was set out in the Framework Agreement.
 

The next critical steps are to sign the Shareholders Agreement, the substance of which along with that of the Company Constitution have already been agreed, and complete other formalities so that the New Porgera joint venture company can be incorporated and apply for a Special Mining Lease.  Finalizing the Operatorship Agreement is also an essential condition to reopening.  

Barrick President and Chief Executive Officer, Mark Bristow said the formal execution of the PPCA represents important progress.