K92 Mine

5% equity from K92 Mine to be shared

This is one of several separate benefit packages apart from the K92 Mine revised Memorandum of Agreement (MoA) concluded on Friday.

Parties to the K92 Mining Project settled the second review of the project’s MOA on a high note, agreeing in-principle to the various commitments.

The K92 Mine MoA review discussions in Kokopo, East New Britain included Royalty distribution, Special Support Grants, Infrastructure development, Business Development and Training & Employment, amongst others.
From these discussions a number of separate benefits packages were announced.

LO's first priority in K92 spin-offs

Numu said this during the MoA Review in Kokopo, East New Britain this week.

The Governor said this expressing concern over potential external business interests taking over.

During the K92 Mine MoA Review Governor Numu urged the State to ensure that the commitments must be enforced as stated in the MoA, and that opportunities are given in order of preference as per the commitment.

VIDEO: K92 Mine update

Mineral Resources Authority Managing Director, Phillip Samar, said a series of consultations will take place before the actual review process begins.
Currently, MRA is brokering resolutions to an eight point petition which the Bilimoia Interim Landowner Association, who represents landowners from the mine, want addressed.
The MOA review is one of the issues contained in the petition.
MRA stepped in to address the petition following the arson attack on mining equipment by locals last week, forcing mine operator K92 Mining Inc to temporarily shut down production.

Resolution points set for K92 Mine

This follows the closure of operations at the Mine following an arson attack by landowners resulting in millions of kina in damages to the mine property.

In a media conference today, MRA Managing Director, Phillip Samar, said the resolution is yet to be agreed to by all parties which he will meet later this week.

Samar said the unsuspecting attack on the mine was a result of outstanding landowner issues which Bilimoia Interim Landowner Association (BLA) claim have not been met.