Prime Minister James Marape with Barrick CEO Mark Bristow yesterday handed over the binding framework agreement to the Enga Provincial Government and the landowners of Porgera.
Speaking at the equity forum in Paiam, PM Marape outlined the outcome of the negotiations between the State and BNL.
Enga Governer Sir Peter Ipatas upon receiving the handbook applauded both the national government and Barrick for a fair and equally agreed proportion of the joint venture ownership of 51/49 per cent.
Barrick CEO Mark Bristow urged all stakeholders including landowners to share the responsibility in the success of the Porgera mine in ensuring that all parties benefit ones the mine is reopened.
The Landowners and Enga Province will now discuss on how the breakup of the 10 per cent equity will be allocated.
Meanwhile the 5 percent interest will remain with the Enga provincial government.