Tolukuma Gold Mine

Tolukuma full production next month

Executive Director, Vincent Siow, announced this during the revised mining memorandum of agreement (MOA) signing last week.

“Next month onwards, we will be starting full production,” said Siow.

However, he highlighted that the equipment at the mine was quite old and they needed to re-equip the operations.

In 2008, Petromin, now Kumul Mineral Holdings Limited, acquired TGM however, the mine had incurred losses of over K170 million and relied solely on funding from Petromin.

Give me fixed dates for commitment: LO

Chairman of the Tolukuma (Yulai) Landowner Association, George Gusi, said this following the signing of the revised memorandum of agreement.

Speaking to media after the signing, which Gusi refused to be a part of, he said he wanted to know when the commitments for infrastructure development would begin.

“They have to give me the fixed date before implementation,” said Gusi.

The Government has committed K3.7 million in infrastructure projects to affected landowners of the Tolukuma Gold Mine and are to be implemented within the three year term of the revised MOA.

​K3.7m for infrastructure projects

The commitments are to be implemented within the three-year term of the revised mining memorandum of agreement (MOA) signed last week.

The commitment has been broken down into the following infrastructure projects:

​Baikodu-Tolukuma road a priority

Mining Minister Byron Chan said this during the MOA signing ceremony last week.

Chan announced that the Government has committed K3.7 million in infrastructure projects towards the mine affected area, with K1.5 million earmarked for the access road.

“We open up the road to allow the industrious people of Goilala to bring their produce to market, their mothers and fathers to work, their sick to the hospitals, and their children to schools – that is development at its best,” said Chan.

LO’s signing snub does not derail Tolukuma restart

In a media conference following the signing ceremony, Mineral Resources Authority Managing Director, Phillip Samar said the MoA is a completely separate to the commercial agreement between the mine operator as well the state, province, and landowners.

“The commercial operations is permitted under the license that the Government provides which is the mining lease. This MoA has absolutely no connection to that. The MoA is simply a benefits distribution mechanism,” Samar said.


However this signing was not with some opposition from the Yulai Landowners Association represented by Chairman George Gusi.


More from Salome Vincent

Tolukuma LO refuses to sign deal

Chairman George Gusi snubbed the long overdue revised MOA, claiming there are still outstanding issues to be settled.

Facilitated by the Mineral Resources Authority (MRA), the signing ceremony was attended by Mining Minister Byron Chan, Central Province Governor, Kila Haoda, Executive Director of Asidokona, Vincent Siou, Woitape LLG President Joe Geru, and MRA Managing Director, Phillip Samar.