The project is the second-largest gold mine in Papua New Guinea. In April 2020, the project’s mining license expired, leading to a halt in production. In 2021, Barrick (Niugini) Limited (BNL) and the Papua New Guinea government signed a framework agreement regarding the future ownership and operation rights of the Porgera Gold Mine. In April 2022, the PNG government and BNL signed amendments to the Porgera Project Commencement Agreement (PPCA) and a custody agreement for a 10% equity interest in the new joint venture company. BNL is responsible for the recommissioning of the Porgera Gold Mine, and is now working with the relevant parties in Papua New Guinea to finalize relevant agreements and expedite the resumption of production and operations.
With a designed annual throughput of 5.8 million tonnes, the project produces approximately 16 tonnes of gold per annum.