Wafi-Golpu Project has the potential to make a significant economic and social contribution to Papua New Guinea over a long period. Photo: newcrest.com
The Papua New Guinea government is hoping that the huge Wafi-Golpu copper and goldmine in Morobe Province will be confirmed to begin operations before the end of next month.
Wafi-Golpu is a planned underground mine, 67km from Lae in Morobe Province.
It is a joint venture involving multinational miners, Harmony and Newmont.
The PNG government is working to negotiate the mining licence, aiming to ensure better returns for PNG and the landowners.
PNG's state negotiations team chair Dairi Vele said they want to reach results similar to what was achieved in the Porgera gold mining deal, in where the renewed lease gave the PNG government a majority stake in the mine operation.
"All we are trying to do is to make sure that everything is as per our law in previous agreements, that Newmont would have seen in Lihia and some of the older projects.
"In some of the older projects, the state used to allow companies to do things beyond our law. Under Prime Minister Marape, we're just bringing everybody back to where the law is. That's what's taking time," Vele said.
Vele said the mining lease, at 40 years, will be the longest the PNG government has ever negotiated, previously stating that the return to the government and people of PNG could exceed US$15 billion from the venture.
"So we are hoping that in this last couple of weeks we have taken all [steps] to ensure that the next 40 years, Papua New Guinea, the people of Morobe, and the people of the project team, achieve what they have been promised and what we have agreed to."
He said that once the agreements are signed, people will be mobilised, and "within six to 12 months, we would hope [to] have boots on the ground in Morobe Province".
