The New Porgera Limited (NPL) has announced that it has delivered substantial financial returns to the country in 2025, declaring dividends of approximately K1.7 billion following a strong operational and fiscal performance.
At the same time, the company said in a statement that it has met its annual gold production target despite a challenging operating environment.
It said the dividend declaration—based on the mine’s solid performance—underscores New Porgera’s significant contribution to the national economy, alongside major tax payments, royalties, compensation to landholders, and sustained investment in communities and national content development.
With Barrick Niugini Limited (BNL)—a joint venture between Barrick Mining Corp. and Zijin Gold International—as operator, a combined K985.77 million was paid in taxes to the Internal Revenue Commission, with NPL contributing K960.71 millions of that total.
Based on this performance, the NPL Board declared dividends of USD 400 million (approximately K1.7 billion), with 51% allocated to PNG interests.
* Mineral Resources Enga Limited received K83,875,218 in respect of its 5% equity.
* MRDC (Escrow) Limited received K167,831,525 for the 10% equity currently held in escrow pending completion of the Community Development Agreement (CDA).
As of 31 December 2025, royalties accrued totaled K157 million. Final distribution will be determined once the CDA process is concluded. As part of CDA discussions, NPL proposed—and the State agreed—that royalties should be paid directly into individual household bank accounts, to ensure benefits reach landowners directly and to reduce leakage through intermediaries.
In addition, NPL paid K13.1 million in compensation to affected landholders during 2025.
Against this backdrop, NPL met its 2025 production target, pouring 376,057 ounces of gold, slightly exceeding the budgeted 375,953 ounces.
This result was achieved despite significant challenges, including law-and-order disruptions, damage to transmission infrastructure, and community and election-related impacts.
NPL General Manager James McTiernan said the result reflected the strength and commitment of the workforce.
“Delivering this result under such difficult conditions is a credit to our people,” Mr. McTiernan said. “Their resilience and discipline kept the operation moving during a very challenging year.”
NPL Board Chairman James Wang, of Zijin Gold, also praised the workforce.
“The NPL workforce delivered under extremely difficult circumstances. They are the real superstars of New Porgera.”
During 2025, NPL submitted its inaugural National Content Plan to the National Government. The plan focuses on three priorities: Papua New Guinean employment and skills development, community development, and increased participation of PNG-owned businesses in the mining supply chain.
NPL has already submitted its three-year Training and Employment Plan to the National Training Council in December 2025 and established a Youth Development Committee to strengthen youth participation in community development in Porgera. Further information on supplier development initiatives will be published on the NPL website, to be launched shortly.
While the 2025 results demonstrate strong operational resilience, NPL notes that ongoing law-and-order issues continue to impact operations and limit the mine’s full potential. In 2025, NPL recorded 183.15 hours of production stoppages due to law-and-order incidents, with an estimated financial impact of USD 17 million.
NPL remains committed to working with government, communities, and stakeholders to improve conditions on the ground and to continue delivering sustainable, long-term benefits for Papua New Guinea.