Kumul Minerals Holdings Limited

Dr. Temu was nominated as a director of NPL by Kumul Minerals Holdings Limited which holds the State’s interest in New Porgera.  

Dr. Temu’s appointment was confirmed at a meeting of the NPL shareholders held on 8 May 2023.  
He has over 25 years of experience in the mining industry and is a widely respected figure in Papua New Guinea’s business community. 
 
New Porgera Limited is owned 49 percent by Barrick Niugini shareholders and 51 percent by PNG stakeholders. 

KMOTL is a wholly owned subsidiary of Kumuls Minerals Holdings Limited (Kumul Minerals).

The signing of the shares transfer documents took place at the Government House. It is a culmination of the State’s broader restructure of its mining and resource holding that requires all mining assets to be held under Kumul Minerals Ok Tedi Limited.

Present to sign over the transfers with Governor General, Sir Bob Dadae, was NEC Secretary, Grace So’on, Kumul Minerals Chairman, Bonny Ninai, and Secretary Francis Lola.

The beneficiary groups are from PNG LNG Plant site, PNG LNG Pipeline, PDL 9 – Juha, PDL 4 – Gobe, and the Fly River Provincial Government.

The beneficiary groups will sign the agreement with Kumul Petroleum Holdings Limited Managing Director, Wapu Sonk, in Port Moresby

Sonk announced this week (Tuesday) that the five beneficiary groups expressed interest to sign the agreements for the share transfer documents as well as the vendor note

O’Neill said the appointment comes at a time when the Government is fully realising its strategy to restructure and streamline the management of its assets in order to maximise efficiency and shareholder gain.

“As the trustee shareholder of Kumul Minerals, and on behalf of the State as beneficial shareholder, I have every confidence in the leadership of Mr. Graham,” PM O’Neill said.

“Kumul Minerals will benefit immensely from Mr. Graham’s extensive experience and knowledge of the extractive industry.