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Porgera CDA gets off the ground

A draft version of the Porgera community development agreement (CDA) has been sent to the parties involved for review and comment.

A CDA is a legal agreement or commitment entered into by the company and affected mine community or communities and approved pursuant to these regulations.

Back in April, PNG Mining Minister Muguwa Dilu urged all departments involved in the CDA to perform their duties so that the agreement could be completed as soon as possible.

The draft documents sets out the landowner and stakeholder benefits that could be expected to come out of the recently restarted Porgera gold mine.

These benefits include royalties, equity, infrastructure development grants, special support grants and business spin-off opportunities.

Parties of the CDA include the special mining lease landowners, New Porgera Limited, the Enga Provincial Government, and the Porgera Rural Local Level Government.

The team behind the CDA has given an indefinite time off to the parties so they may review and comment on the document before negotiations resume.

Dilu said the PNG Government would ensure that the CDA would be fast tracked and completed within a reasonable time-frame.

Project operator New Porgera Limited and Kumul Minerals Holdings Limited have also been attending the meetings to respond to specific queries where necessary.

Porgera hosts 11 million ounces gold reserves, producing 500,000 ounces and five per cent gold as concentrate per annum.

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