The mine had closed after the State refused to renew the mining lease held by Barrick Niugini Limited (BNL).
PM Marape said after negotiating with BNL, there was a breakthrough, with Papua New Guinea having a “far superior deal” than in the first 31 years of operation, from 1989 to 2020.
“I’m announcing to our country that within the principles of my Government, which includes getting more from our natural resources, we are in a better position now to sign an agreement with Barrick for what will be a new Porgera,” the Prime Minister said.