Barrick Niugini Limited has agreed to be a party to the revised Porgera Mine Project Memorandum of Agreement (MOA).
The agreement was reached on October 31st 2018 in Kokopo, East New Britain, where the parties met to progress the negotiation of the revised MOA.
Barrick took over as operator of the Porgera Mine from PlacerDom in 2016 and had been an observer up until its agreement to join the revised MOA as a party.
As per the agreement Barrick means is now obliged to honor commitments listed under the revised MOA.
They include the resettlement exercise, training and development and supply & procurement, among others.
Despite not being a party to the MOA since 2006, Barrick delivered benefits including training & localization and business spin offs, under the Mining Development Contract (MDC) as well as benefits through the compensation agreement and tax credit scheme programs.
“We look forward to working with you in the moths ahead and especially to try and finalize these documents so that we have to the start delivering our obligations under the agreement.
“Signing this agreement is not the end of it. It’s the action to deliver our undertakings that’s the important thing. its about committing to that and we need to hold each other to account to ensure we deliver our commitments. And we will definitely be doing that on our side as Barrick Niugini,” said Barrick Niugini Country Manager, Dr Ila Temu.
Landowners expressed appreciation to the company to join the MOA as a party.
“We thank you for agreeing to be a party to this revised MOA, being a responsible corporate citizen, in the country and in the community that we host, we highly appreciate your consideration to participate in the revised MOA. And we look forward to working with you,” said Porgera Landowners Association MOA Committee Chairman, Maso Manga.
Meanwhile, Acting Managing Director of the Mineral Resources Authority (MRA) Nathan Mosusu, commended Barrick Niugini for committing itself to the landowners of Porgera Mine and other stakeholders of the MOA.
“Barrick is a major player in the industry and has always been an important contributor to PNG’s economic wellbeing. The company’s commitment to delivering benefits to our stakeholders especially our landowners is a plus for the country.”