Newmont President  Visits Papua New Guinea

Wednesday 3  April 2024

Prime Minister, Hon. James Marape meeting with President and Chief Operating Officer of Newmont, Mr Tom Palmer  (right) at Sir Manasupe Haus. (photo: PM”s Media).

The recently-appointed President and Chief Executive Officer of Newmont, (the world’s gold miner), Mr  Tom Palmer, paid a courtesy call on Prime Minister, James Marape at his Office, at Sir Manasupe Haus, in the  National Capital yesterday (Tuesday 2 April).

Mr Palmer  gave an update on his visit to the country, which he said,  is primarily to Newmont’s mining sites to “understand the operations better” in line with the company’s new plans for 2024 going forward.

 Prime Minister Marape thanked Mr Palmer and assured him of his government’s commitment to work with the developer in all its projects covering Lihir  (New Ireland) and Wafi-Golpu (Morobe).

 The Prime Minister also commended Mr Palmer and Newmont for heeding several of his recommendations, including getting PNG to have its own operation in reference to Newmont’s worldwide business portfolio; and engaging in the conversation on IPO (Initial Public Offering) at the Port Moresby Stock Exchange to open up the stock market to Papua New Guineans.

Their conversation  also touched on temporary solutions for the current fuel shortage for the mines’ operations; corporate tax revenue from Lihir; and local ownership content in Lihir Mine come the next review of the mining contract in 2035.

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