Economy. Papua New Guinea press review

Prime Minister of Papua New Guinea (PNG) Hon. James Marape is «pleased» with the discussions he held yesterday with the Barrick Gold Corporation (Canada) Chief Executive Officer Mark Bristow in Port Moresby, to reopen the Porgera mine. PNG Prime Minister marked that the discussions focused on «mutually acceptable arrangements for a new Porgera partnership to reopen and operate the mine». «We have agreed in principle that Papua New Guinea will take a major share of equity under the new arrangements and BNL [Barrick Niugini Limited] will retain operatorship and there will be a fair sharing of the economic benefits, » Mr. Marape said. PNG Prime Minister and Mark Bristow will meet again in the coming weeks. «I have full confidence that we will be able to broker a historic agreement that will provide a lasting legacy and enduring partnership that will benefit our nation for many years to come,» Marape noted.
Meanwhile, Environment and Conservation Minister Wera Mori said the Government was concerned about the socio-economic impact the Porgera gold mine had on the people of Enga in the past 30 years. «We have got to conduct a socio-economic impact study the mine has had on the livelihood of the people including relocation of landowners,» Mr. Mori said. [1-4]

PNG Prime Minister Hon. James Marape has given an ultimatum to stakeholders negotiating the US$5 billion Wafi Golpu project. A final meeting between the developers, landowners and State agencies is expected to be held next week in Lae at the request of Morobe Province Governor Ginson Saonu. The developers are Harmony Gold Mining Company Ltd (RSA) and Newcrest Mining Ltd. (Australia). PNG Prime Minister also said that next week’s meeting «must be the last». [5]

Hon. Prime Minister marked that he would like all stakeholders to work together to agree to a way forward for tailings disposal, and for the negotiations to move forward to the next stage. Mr. Marape also said that he had heard the call of landowners in the mine impacted areas through their leaders and the concerns of the Governor for Morobe, Ginson Saonu, to ensure all processes as per the Laws of Papua New Guinea. According to Hon. James Marape’s statement, he wants to ensure that the people get a fair share of the benefits, with minimal to no visible impacts on the surrounding environment. [6-7]

Bank of Papua New Guinea representative Jeffery Yapom said that AN estimated two-thirds of Papua New Guinean’s micro and small to medium enterprises (MSMEs) have had to close as a result of the impact of the COVID-19 pandemic on their businesses. [8] The Independent Consumer and Competition Commission (ICCC) announced the reappointment of Paulus Ain as the Commissioner and Chief Executive Officer of the organisation for the next five years. [9] [1]

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