PAPUA New Guinea Chamber of Commerce and Industry president Ian Tarutia has welcome the news of the proposed reopening of the Papua New Guinea's Porgera Mine in April.
“The closure two years ago and its consequences had an adverse impact on the country’s economy in terms of forgone tax revenue, royalties and unemployment of more than 3,000 workers,” he said.
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| PNG Chamber of Commerce and Industry welcomes Porgera Mine reopening [Photo by Pacific Mining Watch] |
“We are hopeful that formalities can be concluded as soon as possible so that mine operations can resume and kick start economic activities in Enga, the surrounding corridor to Western Highlands and down to Lae.
“We also welcome the passing of the new Connect PNG Act 2021 which will address road funding in the country for the next 20 years.
“Good quality roads and airports are a critical and much needed infrastructure to provide expedient transportation nationwide.
“Good quality roads, ports (air and sea) are nation building assets the country need to move forward.”
State negotiation team chairman Dairi Vele told The National that the multi-billion Porgera Gold mine in Enga was expected to reopen next month.
However, Vele said it would take several months to ramp up to steady production.
He said the mine operator, Barrick Niugini Ltd (BNL), was in charge of funding cost for the mine restart with the state expected to repay BNL its share of the restart cost.
Mineral Resources Authority managing director Jerry Garry also told The National that the shareholders agreement was yet to be signed by equity partners.
The National/ Pacific Business News
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