PNG Plans to Reopen Barrick Gold’s Porgera Gold Mine

SEATTLE (Scrap Monster): James Marape, Prime Minister, Papua New Guinea (PNG) announced that the country plans to reopen the disputed Porgera gold mine operated by Barrick Nuigini Limited (BNL).

According to him, the mining assets are still under the ownership of BNL. The news that the government has nationalized or expropriated the mine from Barrick is quite misleading. The decision on the future of the mine rests on the company. If they wish to sell these assets, the government is willing to buy them, he said.

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The Special Mining Lease (SML) for the mine had expired in 2019. The government had refused to renew the same for another 20 years, based on recommendation by the Mining Advisory Committee (MAC). The Prime Minister claimed that the decision to not renew the SML was in line with the laws of the country and in the national interest. Further, the law states that the land reverts back to the State upon expiry of SML.

The company’s decision to challenge the State in court has made things difficult. The government intends to reopen the mine, but any action would not be possible before a court ruling on the matter. Meantime, he assured that the government is committed to do everything possible within laws of the country to reopen the mine.