K92 mine dealing with new commitments in review of agreement

Clarissa Moi | The National aka The Loggers Times | March 14, 2019

THE review of the memorandum of agreement (Moa) between parties to the K92 mining project in Eastern Highlands is expected to be completed by the end of this year, says chief executive and director John Lewins.
He said all the parties wanted a new Moa so the review would include new commitments.
“We’ve had very good support from the Mineral Resource Authority (MRA) in moving to completing the review,” Lewins said.
“At this point in time, we are certainly confident that we will be able to sign an updated memorandum of agreement by the end of this year.”
The agreement was last reviewed and signed between the parties and former operator Barrick (PNG) over 10 years ago.
K92 Mining Inc is the new party.
The other parties are the Bilimoia Interim Landowners Association (Bila), National Government, Eastern Highlands government and affected local level governments.
Mining Minister Johnson Tuke said the ministry had prioritised review of the Moa and anticipated to recommence review by end of this month.
“Memorandum of agreement is the most important vehicle,” he said.
“That is an agreement between the industry and the State.
“Many a time, government as well as industry are passing the buck at each other.
“And who are the recipients? The people. We need to have in place a vetting process.
“I want see many of our memorandums-of-agreements to be captured.
“That has not been captured many times.”
Tuke said those Moas had to be vetted, fully captured and fulfilled by parties.
Meanwhile, Lewins said the memorandum of agreement recognises two landowner groups of the project:

  • Bilimoian landowners – mining lease (ML) 150; and
  • associated infrastructure groups (ownership of areas where mine infrastructure is built- lease for mining purpose (LMP) 78, ME 80 & 81).

Lewins said as part of their focus for this year, they had:

  • established a number of joint-ventures with the community for transport, security, camp and ancillary mobile plan;
  • introduced scholarship programmes for the 2018 academic year for 11 students being expanded this year;
  • a number of other projects like water supply and others; and
  • A big focus on training and employment programmes.
Advertisements

Leave a comment

Filed under Financial returns, Papua New Guinea

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s