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Porgera Mining Project Parties expressed Satisfaction

Parties tothe Porgera Mining Project MoA have expressed satisfaction withthe outcomes ofthe review.

This is despite developer BerricPNG’s observer status regardless of strong views that it’should be a party tothe discussions.

Representttatives saidthey are happy that all parties mapped out a way forward onthe major clauses ofthe Agreement.

The MoA agreement between allthe parties concerned was held in Kokopo, East New Beitain. State, PorgeraLandowners, Enga Provincial Governmentoandthe Porgera Development Authority expressed satisfaction.

Apart fromthe State, all ther parties atthe review requested thatthe rates currently pertaining to royalty, Special Support GrantoEquity and Tax Credit Schemee increased.

The parties agreed thatthe state team would bringthese issues up for verification with government authorities.

A committee comprising representatives of landowners, Enga Provincial Governmentoand relevant state agencies was formed to discussthe issues futher and reportthe outcome withinthe next three weeks atthe next MoA review. It will be on July 25-26.

Acting Managing Director ofthe Mineral Resources Authority (MRA) Philip Samar saidthe MRA will continue to facilitate for the parties tothe reviewthe agreement. He urgedthem to engage and consult.

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