The New Ireland Provincial Government is negotiating for a larger share of mining benefits from the Simberi and Lihir gold projects, including increased equity participation, higher royalties and additional development funding for communities in the province.
Governor Byron Chan said the province is seeking 10 percent of the State’s 20 percent equity in the Simberi Gold Project currently held by Kumul Mineral Holdings Limited, while also pushing for mining royalties from the Lihir operation to increase to 3 percent during ongoing negotiations involving the Provincial Government, the Mineral Resources Authority, Lihir Gold Limited and St Barbara Limited.
Related news: https://www.postcourier.com.pg/new-ireland-pushes-for-greater-mining-benefits-in-simberi-and-lihir-negotiations/
New Ireland Provincial Administration is continuing negotiations between the New Ireland Provincial Government, representatives of the Lihir Gold Limited and St Barbara Limited mining operations, together with the Mineral Resources Authority, regarding the renewal and future benefits arrangements for the Simberi and Lihir mining agreements.
New Ireland Governor Byron Chan in a statement said the Provincial Government is pursuing greater participation and stronger long-term economic benefits for the people of New Ireland through the ongoing negotiations.
On the Simberi Mine agreement, Governor Chan revealed that the Provincial Government is seeking 10 percent from the 20 percent State equity currently allocated to Kumul Mineral Holdings Limited under the Simberi Gold Project arrangements.
“For too long our people have watched resources leave our province without seeing sufficient long-term returns. We are now negotiating for a fairer level of participation that reflects the aspirations and interests of the people of New Ireland,” Governor Chan stated.
With regards to the Lihir Mine agreement, the Governor said discussions are also underway to increase mining royalty benefits to 3 percent, while pursuing an equitable level of equity participation for the people and government of New Ireland Province.
Governor Chan further stated that increases in Special Support Grants and Infrastructure Development Grants will also form part of the discussions, particularly in ensuring mining companies continue to meet their social responsibilities in supporting development throughout the province.
“These projects operate within our province and on our people’s land. It is only fair that the benefits flowing back to our communities are strengthened to support infrastructure, health, education, economic opportunities, and essential services,” he said.
Related news: https://www.thepngsun.com/k300-million-deal-sought-as-new-ireland-pushes-for-bigger-share-from-lihir-and-simberi/
Governor Chan is now calling on ward members, presidents of Nimamar and Sentral Niu Ailan LLGs, landowners, and community leaders to work together in supporting the proposed agreements moving forward.
“This is a defining moment for New Ireland. Unity and cooperation among leaders and landowners will be critical in ensuring we secure agreements that benefit not only the present generation, but future generations of our province as well,” Governor Chan added.
Negotiations are ongoing and further updates are expected as discussions progress.