Papua New Guinea Prime Minister James Marape welcomed Tom Palmer, the recently-appointed President and Chief Executive Officer of Newmont, the world’s largest gold mining company, to the National Capital in Papua New Guinea. Mr. Palmer initiated a courtesy visit to PM Marape at his office in Sir Manasupe Haus, aiming to provide updates on his visit to the country. His visit primarily focuses on gaining deeper insights into Newmont’s mining operations, aligning with the company’s strategic plans for 2024 and beyond. During the meeting, Prime Minister Marape expressed gratitude to Mr. Palmer and reiterated his government’s dedication to collaborate with Newmont across various projects, particularly concerning the Lihir and Wafi-Golpu sites. Acknowledging Newmont’s responsiveness to his recommendations, Prime Minister Marape commended the company for considering establishing a dedicated operation in Papua New Guinea, distinct from its global business portfolio. Additionally, discussions encompassed the potential Initial Public Offering (IPO) at the Port Moresby Stock Exchange, aimed at broadening access to the stock market for Papua New Guineans. The conversation delved into pressing issues such as addressing the current fuel shortage affecting mining operations, optimizing corporate tax revenue from the Lihir project, and exploring avenues to enhance local ownership participation in the Lihir Mine, particularly in anticipation of the upcoming mining contract review in 2035. The meeting between Prime Minister Marape and Newmont CEO Tom Palmer signals a significant step in strengthening the partnership between the government of Papua New Guinea and one of the world’s leading mining entities, setting the stage for collaborative efforts in sustainable development and economic growth. Also read Comments are closed.
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