royalty payment

Over K14 million Royalty Payout

The landowner groups who benefited from this payout include; Kurumbukari K8.3m , Inland Pipeline, Coastal Pipeline LO’s K2 million each Basamuk LO’s received K3m respectively.

The recent royalty payment to the landowners of the project’s impact areas of the Ramu Nickel Project is the sixth payment made by the Company since production began in 2013, and paid to 190 accounts belonging to clans within the four project impact areas.

New Ireland receive K69.8 million in royalties

Following the release of its fourth quarter report for the year, Newcrest Mining Limited has paid in total K69, 877, 823 million.

The royalty has been divided according to the 1996 Memorandum of Agreement (MOA) between the National Government, to the New Ireland Provincial Government (NIPG), the Nimamar local level government (NLLG) and the Special Mining Lease (SML) landowners who are represented through the Lihir Mining Area Landowner Association (LMALA).