Barrick Gold and Papua New Guinea Government strike new deal over Porgera

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The Porgera gold mine in Enga Prince looks set to reopen later this year after the Papua New Guinea Government and mine operator Barrick Gold reached a ‘binding framework agreement’ to share future benefits from the mine and boost local ownership. 

Metal mayhem: Barrick set to re-open Porgera; Chairman quits Kumul Minerals

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In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.

In brief: Business Council reminds Papua New Guinea government to pay K2.8 billion debt and other business stories

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Business Council reminds government of its K2.8 billion debt, Newcrest to be listed on Canada’s stock exchange and Papua New Guineans open up about the Zhenhua data breach. The business news you need to kickstart your week

In brief: Papua New Guinea and Twinza reach landmark terms for Pasca A project and other business stories

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Prime Minister Marape announces that after successful negotiations an agreement has been reached for the PASCA Offshore Petroleum Project, Barrick Niugini lodges an application for Judicial Review of the purported grant of a special mining lease to Kumul Minerals Holdings and Bougainville’s new president. The business news you need to kickstart your week.

Papua New Guinea Government moves to take over Porgera lease

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Papua New Guinea’s government has moved to effectively take over the Porgera gold mine in Enga Province by issuing a Special Mining Lease to state-owned mining company, Kumul Minerals Holdings. Legal challenges look likely.

In brief: Oil Search planning strategic review and other business stories

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Oil Search to undergo a strategic review, Newcrest remains positive about Wafi-Golpu and public consultation on internet pricing. The news you need to kickstart your week.

Papua New Guinea government and Barrick Gold outline competing visions for Porgera

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Prime Minister James Marape and Barrick Gold have offered two competing visions for the reopening of the Porgera gold mine. With the mine closed and court cases ongoing, the latter is highlighting the impact on business and the community.

Barrick initiates international proceedings over Porgera

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In its latest step to maintain its position as operator of the Porgera gold mine, Barrick (Niugini) is taking its dispute with Papua New Guinea to the International Centre for Settlement of Investment Disputes.

Court challenge: Marape forced to rethink Porgera decision by courts

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The decision by the Marape-Steven government not to extend the Special Mining Lease on the Porgera gold mine is headed for the courts after the National Court of Justice at Waigani ordered both parties to have discussions to resolve the matter.

Porgera fallout: Prime Minister moves to reassure Papua New Guinea’s miners

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Prime Minister James Marape moves to allays concerns among Papua New Guinea’s mining companies following the decision not to renew the special mining lease for the Porgera gold mine. Meanwhile, the mine’s temporary closure is already affecting local business.