Mining Minister, Byron Chan, said this during the signing of the revised mining project Memorandum of Understanding (MoA) for Ok Tedi.
Chan, however, said this figure will exceed once Wafi and Frieda come into production in five years’ time.
“I have been working closely with the government team to approve these MOAs that have been completed for existing mines and new mines and for the State’s commitments, amounting to K155 million over the next 5 years under each of the MOAs,” he said.