Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “progress”, “negotiations”, “imminent”, “continue”, “discussion”, “expect”, “will”, “would”, “remain”, “future” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: the statement released by Papua New Guinea Prime Minister James Marape announcing an imminent agreement to reopen the Porgera mine; the status of discussions with the government of Papua New Guinea to reopen the Porgera mine and resume production in line with the agreement in p
Barrick and Papua New Guinea Progress Porgera Negotiations
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Barrick and Papua New Guinea Progress Porgera Negotiations
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Barrick says willing to negotiate with PNG Barrick has submitted generous new plan to state (Recasts with Barrick comments)
MELBOURNE, July 17 (Reuters) - Barrick Gold Corp said on Friday it would be willing to talk to Papua New Guinea (PNG) about reopening the Porgera gold mine but only without preconditions, after Prime Minister James Marape urged it to withdraw court action against the state.
Barrick Niugini Ltd (BNL) was responding to a statement from Marape on his Facebook page on Thursday saying PNG would be willing to partner with Barrick to reopen Porgera, but only after withdrawing its legal action.
1 January 2021
Author: Ronald May, ANU
As 2020 began, Papua New Guinea’s (PNG) Prime Minister James Marape appeared to be in a strong position to pursue his vision of improved governance and better returns from foreign investment in big resource projects.
He had consolidated his position by late 2019 by attracting leading members of the opposition into government, and membership was growing in the Pangu Pati of which he had become parliamentary leader. But a myriad of political, health and economic challenges would soon threaten his leadership.
The onset of the pandemic was seen as a serious threat. Funding shortages and poor governance undermined the capacity of the health sector to deliver critical services. But PNG weathered the pandemic well, having recorded only 760 cases and 8 deaths as of 19 December. The government was assisted by aid from Australia and China, and by US$364 million in emergency funding from the IMF to address balance of payments issues.