New Porgera Limited

Barrick steers Porgera Mine towards restart

The NPPA confirms that all parties are committed to reopening the mine at the earliest opportunity, in line with the terms of the Porgera Project Commencement Agreement and the New Porgera Limited Shareholders Agreement both concluded in 2022.  

Porgera hosts an orebody with measured and indicated resources of 10 million ounces2 and inferred resources of 3.4 million ounces. After initial ramp up and optimisation of the Wangima pit, the mine is forecast to produce an average of 700,000 ounces per year, achieving a milestone towards its potential Tier One3 status. 

Porgera On The Road To Restart

Prime Minister James Marape said it was a “milestone achievement” towards reopening of the Porgera mine, which has been closed since 2019.

Porgera Mine is currently into its third year of Care & Maintenance and restart plans is forthcoming, with the full execution of the Shareholders Agreement by Mineral Resource deal sealed.