The shareholders’ agreement now only awaits the signature of Mineral Resources Enga (MRE) for the document to take effect, which would clear the way for the incorporation of a new Porgera joint venture company and the application for a new Special Mining Lease, a condition of the Porgera mine’s reopening.
The new Porgera joint venture company will be owned 49 percent by BNL and 51 percent by PNG parties, including an increased equity stake for the Porgera landowners.
