Porgera Gold Mine
Porgera Gold Mine
Porgera Gold Mine
Porgera Gold Mine
Porgera Gold Mine
  • Location
    Enga province, Papua New Guinea
  • Ownership
  • Project status
    Resume production on December 2023
  • 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

    Porgera is the second-largest gold mine in Papua New Guinea. Zijin holds a 24.5% interest in the project through Barrick Niugini Limited (“BNL”).

    According to BNL’s latest plan, the Porgera Gold Mine, with 417 tonnes of gold resources, is expected to produce an average of 21 tonnes of gold per annum after it restarts and reaches nameplate capacity. Approximately 5 tonnes of the mine’s annual gold output is attributable to Zijin Mining.

    In April 2020, the project was placed on care and maintenance when its mining license expired. In 2021, BNL signed a binding framework agreement with the PNG government regarding the future ownership and operatorship of the project. In April 2022, the PNG government and BNL signed an amendment deed to the Porgera Project Commencement Agreement (PPCA) and an escrow deed to park 10% of the project equity of the new joint venture. In October 2023, BNL was granted a Special Mining Lease by the PNG government. Porgera will resume operations on December 22, 2023.

  • 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.

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