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June 25, 2021
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Newcrest Signs MOU

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Newcrest and the Australian High Commission have signed a Memorandum of Understanding, to work together to support a range of development projects in Papua New Guinea.

The MOU now provides a framework on how to support the development of the public sector.

In its initial phase, this will see support for the training of public servants in the fields of health, as well as in the extractive resource sector.

Specifically, this will see Papua New Guineans benefit from training in the following areas;

  • Scholarships for a Diploma of Nursing;
  • Australian Awards scholarships in midwifery;
  • Workshops on Extractive Industries Transparency Initiative;
  • A short course on mineral economics, to be delivered under the Pacific Leadership & Governance Precinct.

According to Newcrest PNG Country Manager, Peter Aitsi, the signing is another example of the commitment that Newcrest has to PNG.

“In 2016, Newcrest contributed close to K2 Billion to the overall economy. A significant proportion of this in Royalties alone (K70 Million in 2016, with a further K40 Million between January and June this year).

Newcrest is committed to partnering with PNG to build a prosperous future.”

Under the MOU, Newcrest and the Australian High Commission will seek to contribute to strengthening PNG public sector leadership, performance and accountability. The Corporation will focus on building connectivity across the PNG Government to support transparency and sustainable extractive industry investments at all stages of the project cycle. This includes a focus on training to enhancing the skills base in mineral economics, which will remain integral to PNG’s economy. This wok will be facilitated through Pacific Leadership and Government Precinct.

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