Newcrest Mining Limited

Newmont-Newcrest Merger Granted

This decision comes after careful scrutiny, with the regulator expressing satisfaction that all stipulated requirements have been met.

Minister for International Trade and Investment, Richard Maru, announced the breakthrough, highlighting that a comprehensive Memorandum of Agreement (MoA) has been formalized between the merging entities.

Minister Maru extended gratitude on behalf of the Government to Newmont Corporation for choosing to invest in Papua New Guinea.

Newcrest Lights Up Cheshire

The Genset will ease electricity woes for the establishment during black outs in the city.

CDS provides crucial services to people living with special needs, both within Port Moresby and surrounding communities.

CDS General Manager Bernard Ayieko expressed gratitude for the donation, as it was crucial for Cheshire Homes to have a reliable source of electricity.

 “Cheshire is an organization that operates like a hospital.

Lihir ops not impacted by COVID-19 case

The individual, a PNG national, flew into Lihir from Port Moresby on 30 July and as per our protocol was isolated along with the other arrivals in a designated isolation camp while testing was conducted and the 14 day isolation period completed.

The individual is asymptomatic and has been moved from the isolation camp into a separate isolation and treatment facility. We are providing the individual with care and support.

Newcrest assists ENBPHA

The equipment is to assist the PHA with their preparedness in mitigating the risk of infection during this pandemic and thereby protecting the health workers and wider community.

Newcrest established the Community Support Fund to assist PNG in its response to COVID-19. A large number of Newcrest employees come from East New Britain, and Newcrest is pleased to be able to assist the province at this critical time.

A step in environmental management

Lihir’s environment department, through its Environment Management System (EMS) team and SAI Global, led the transition audit.

ISO14001:2015 is the international standard that specifies requirements for an effective Environment Management System. It provides a framework that focuses on the overall business performance of the operation and looks at enhancing environmental efficiencies (i.e waste minimisation) in all processes.

Lihir royalty payment update

This was from 1997-September 2018, as part of its socio-economic commitment to the province and the country.

In the quarter July-September 2018, Newcrest paid K15,091,680 to the stakeholders.

NIPG received K7,545,840 (50 percent), NLLG received K4,527,504 (30 percent) and Lihir SML block owners received K3,018,336 (20 percent). These portions (percentage) have been agreed upon, through a signed Memorandum of Agreement (MOA) by the State, NIPG, NLLG and SML block owners.

Wafi-Golpu MOU signed

Newcrest Mining Limited and its Joint Venture partner Harmony Gold Mining Company Limited (Harmony) announced this on December 11th 2018.

In a statement released by Newcrest, the MOU establishes the framework for the parties to progress the permitting of the Wafi-Golpu Project as quickly as practicable in accordance with applicable regulatory processes.

Significant economic benefits generated: Newcrest

This includes K85 million in royalties and K156 million paid in taxes amongst multi-million kina investments public infrastructure and salaries to its five thousand local employees.

These figures were revealed in the company’s 2017 Sustainability report released last month.

The report also states Newcrest’s commitment as a development partner for PNG to expand with further progress toward the Wafi-Golpu Project.

ITCS moratorium should be lifted: Newcrest

Newcrest tax credit scheme manager, Jonathan Hardy, said by lifting the moratorium, much-needed infrastructure projects can be implemented and this will also assist in revenue flows in the country.

He said this during Wednesday’s ITCS stakeholders’ workshop.

In his presentation to the workshop, Hardy called on the moratorium to be lifted so that planned projects can go ahead.

Over 5 million oz gold in Golpu reserve

This is reaffirmed in an ‘Updated Wafi-Golpu Feasibility Study’ dated 19th March 2018.

In a market release to the Port Moresby Stock Exchange (POMSOX), Newcrest Mining Limited says this estimate is materially in line with previous estimates.

Newcrest, who has 50 percent interest in the project, says this reflects updated long-term cost and metal price assumptions and optimised designs in the Golpu Feasibility Study Update.