The Porgera gold mine, in Papua New Guinea, could be back in operation before the end of the year, Barrick Gold CEO Mark Bristow said on Friday.
In preparation for the restart, the mobile fleet and fixed plant are being recommissioned, the mining and metallurgy plans have been updated, and the personnel recruitment plan has been finalised, with preference given to local employment.
“It’s been a long journey, but in the process, we have secured the buy-in of all the stakeholders. For Barrick, the re-opening of the mine represents another victory for our host country partnership model which has been so successful in Tanzania and has also been adopted for the Reko Diq project in Pakistan,” said Bristow.
Papua New Guinea stakeholders own 51% of New Porgera with Barrick Niugini, which will operate the mine, holding 49%.
Economic benefits will be shared 53% by the Papua New Guinea stakeholders and 47% by Barrick Niugini.
The 700 000 oz/y Porgera gold mine was shut in 2020.
