Newcrest senior executives flew into Kavieng on Saturday March 19, to pay a special visit to New Ireland Governor Sir Julius Chan and the provincial administration.
Executives included Managing Director and CEO Sandeep Biswas, Country Manager Stanley Komunt, Strategic Engagement Manager Tim Bryson, and Environment, Social and Government Manager Felix Kipalan.
Discussions centered on Mine life extension, alternative energy sources of power, Lihir Ringroad construction, education assistance and other major infrastructure development projects through the revisiting of the Tax credit scheme.
The New Ireland Government emphasised on revising the tax credit scheme to make it more realistic and responsive to the host province.
Sir Julius suggested that Benefit Sharing arrangements should take into account all stakeholders including the Investor, Government and Landowners and should also consider variations of world market prices on Gold so dividends can be distributed fairly.
“We need a forward looking benefit Sharing agreement that allows all parties and especially our landowners to be able to contribute meaningfully to the development aspirations of this province,” said Sir Julius.
On the topic of the tax credit scheme the New Ireland proposed a number of projects that should be considered under the tax credit scheme. In the area of Education they include the New Ireland University, Palie Technical College, Boliu Secondary and Kulube Secondary.
Infrastructure includes the Lihir Ringroad, West coast highway, Tinkoris Medical center and Kavieng Stadium VIP Boxes.
“With Lihir being the third largest mine in the world I'm sure it can easily build the Lihir Ringroad which I have always been vocal about since day one of the mine’s operations. This would be the right thing to do for the people,” Sir Julius said.
With the constant power woes in the province, both parties discussed alternative power ideas including geothermal energy which has been found on Lihir.
Meanwhile the Miner believes Lihir has a another 40years in mine life left however Sir Julius is of the view that plans for mine exit should be sooner rather than later because the mine pit is already 200 metres below sea level.
A special picture frame was presented to Governor Sir Julius. In it were six engravings showing coastal views of New Ireland and Dutch ships in the foreground. The engravings were done by François Valentin and published in 1977 in Amsterdam.
They are believed to be over 290 years old. Sir Julius was delighted to learn of this important piece of history.