By Natasha Ovoi
New Porgera Limited (NPL) announced recently that it filed an application with the Mineral Resources Authority (MRA) for a Special Mining Lease and supporting tenements for the Porgera Gold Mine.
Chairman of Kumul Minerals Holdings and Director of New Porgera Limited, Dr IIa Temu, said the lodgement of the application by NPL is a significant step towards the restart of the mine.
“The lodgement of the SML application is an important milestone for the reopening of the Porgera gold mine” he said
This follows the approval and registration of the transfer of Exploration Licence No. 454 and SML 11 to New Porgera Limited and the subsequent surrender of SML11 and all ancillary tenements by NPL.
The application will be subject to the normal regulatory assessment process which will include the Minister for Mining convening a Development Forum in accordance with the requirements of the Mining Act to canvas the views of stakeholders.
“We are moving ever closer to enabling the people of the Porgera Valley to finally see the ‘white smoke’ they have been waiting for” Barrick Gold President and Chief Executive Officer, Dr Mark Bristow stated.
New Porgera Limited, is a company owned jointly by Kumul Mineral Holdings Limited (which holds the equity on behalf of the State), Barrick Niugini Limited and Mineral Resources Enga Limited, with a further 10% of the equity reserved for PNG stakeholders.
