Image credit: Wafi Golpu Joint Venture official website
By Meriba Tulo – EMTV News, Port Moresby
Late this afternoon, the State signed a Memorandum-Of-Understanding with the Wafi-Golpu Joint Venture Project to progress the project.
Mining Minister Johnson Tuke signed the agreement on behalf of the State, with project joint venture partners, Harmony Gold and Newcrest.
Prime Minister Peter O’Neill witnessed the signing, together with Communications Minister, and Bulolo MP, Sam Basil.
The MOU establishes the framework for the parties to progress the permitting of the Wafi-Golpu Project as quickly as practicable in accordance with applicable regulatory processes.
It provides a framework of key terms to be included in the Mining Development Contract and other related agreements with the State.
The MoU also re-affirms the intention of the parties to complete the permitting process and achieve grant of a Special Mining Lease by 30 June 2019.