PNG Prime Minister James Marape has called on stakeholders to finalise the special mining lease (SML) and mine development contract (MDC) for the Wafi-Golpu copper-gold mine.
During a meeting with the State Negotiating Team and mining partners Newmont and Harmony Gold, Marape said time is running out to get this project off the ground.
“Time is ticking away,” Marape said.
“As a nation, we have collectively agreed that the Wafi-Golpu project must move forward – on terms that are in line with our laws and policies, especially those that ensure the state and Papua New Guinea secure 55 per cent of the project’s economic benefits.
“I want to make it absolutely clear: we cannot afford to lose any more time. The Wafi-Golpu project must advance without further delay.”
Wafi-Golpu holds approximately 12 million ounces of gold and three million tonnes of copper. The site currently holds a 40-year lease, contingent on Newmont and Harmony commencing the project within two years from 2023.
“This is a project of national importance, and moving forward on key milestones is critical to the country’s economic progress,” Marape said.
Marape has set a deadline for the signing of the SML and MDC, with the forms to be finalised before the 2024 Papua New Guinea Investment Week in Sydney, held from December 6–11.
“Delaying any further will only invite frustration and discontent from landowners and local authorities,” Marape said.
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