Porgera Gold Mine
Porgera Gold Mine
Porgera Gold Mine
Porgera Gold Mine
Porgera Gold Mine
  • Location
    Enga province, Papua New Guinea
  • Ownership
  • Project status
    Expected to resume production within 2021
  • Deposit Type
    Epithermal vein-type gold deposit
  • Mineral Resources (Inclusive of Mineral Reserves)
    Contained gold of 10.63Moz with grade of 4.02g/t
  • Mining & Processing methods
    Open mining + underground mining
  • Project Overview

    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.

  • ESG

    Since its commissioning in 1990, the project has contributed around 10% of Papua New Guinea’s annual exports. The project places a high emphasis on growing together with its host communities and other stakeholders. It pays taxes and royalties to landowners and provincial governments in accordance with applicable laws and regulations, and engages in business contracts with local companies. The project also provides ongoing assistance to schools, medical facilities, and a wide variety of public projects involving water and electricity infrastructure, roads, and communities.

  • M&A

    In 2015, Zijin Mining acquired a 50% interest and a 50% debt in Barrick (Niugini) Limited (BNL), a subsidiary of the Canada-headquartered Barrick Gold Corporation, resulting in its indirect ownership of a 47.5% interest in the Porgera Gold Mine.