Barrick Gold says New Porgera granted special mining lease

Governor General Sir Bob Dabae granted a special mining lease to New Porgera Limited, clearing the way for Barrick Gold Corporation to restart production at the gold mine, which has been on care and maintenance for three years. This follows the signing of a mining development contract and the conclusion of a fiscal stability agreement for New Porgera between the government and NPL. NPL will meet the mine property’s landowners in the coming week to settle compensation agreements. Barrick president and chief executive Mark Bristow said subject to agreement on compensation, the mine was positioned to restart before the end of this year. Recruitment was being accelerated to employ the full workforce that will be required when the mine starts ramping up operations as soon as the compensation agreements are in place.