The Deed of Amendment to the Porgera Project Commencement Agreement (PPCA), and the Deed of Escrow to park 10% of the project equity were signed today at the Government House.

The PPCA was deemed concluded when Mineral Resources Enga signed on 3rd February 2022.

The PPCA is the central and structural document designed to elaborate and deal more specifically with what was set out in the Framework Agreement.

In a statement the Prime Minister explains that the PPCA is the main foundational agreement that establishes how the joint venture will operate and the operating model that delivers the agreed benefits to all parties.

It deals with legacy liability issues, taxation issues, license issues, the establishment of the incorporated joint ventures, benefit flows, landowner benefits, project financing, mine closure and reclamation, fiscal and regulatory stability issues, and other issues and legal terms supporting the recommencement of the mine.

The Prime Minister said this is a major milestone and the Government needed to ensure that all the important responsibilities and commitments by all stakeholders are captured in very clear terms under this agreement.

The Prime Minister acknowledged Barrick and its CEO, Mark Bristow, for his patience in allowing the state and its stakeholders to ensure that any matters, which were overlooked in the original PPCA, were captured in the amendment deed.

“The amended PPCA now paves the way for the parties to move very quickly to implement further series of documents which include, the signing of the shareholders’ agreement and the incorporation of the joint venture company, the operatorship agreement between the joint venture company, and Barrick as the operator, the fiscal stability agreement, a mining development contract, and the memorandum of agreement regarding benefit-sharing between the relevant provincial government and local level government.

In accordance with the PPCA, the shares in the new project company will be as follows: Barrick Gold and Zijin, 49%, Kumul Minerals Holdings Limited, 36%, Mineral Resources Enga, 5%, and Porgera Landowners 10%.

The parties to the PPCA have agreed that until such time a determination is reached by the landowners as to how the 10% is apportioned, at an appropriate forum, the 10% would be held in escrow.

Marape said this arrangement is important because they want a proper forum to be held to have the landowners themselves determine how the shares will be held to best represent their interests.

The intention of the escrow is to allow the project company to be incorporated in the short term so to enable the lodgment of its application for a special mining lease to be made.

It further allows important regulatory tasks to proceed unhindered while plans are put into place for the development forum to take place.

“I am also pleased to announce that the stakeholders have all agreed for the Mineral Resources Development Company (MRDC) to be the escrow agent. MRDC is an experienced company dealing with landowner matters in the oil, gas, and mining space. We are confident that they will be able to perform their tasks diligently in accordance with the Deed of Escrow.”

These important signings now pave the way for the final pieces of the puzzle to be put in place for the mine to be reopened.

“I have been briefed on the critical pathway to the reopening of the mine, and it remains my utmost priority to ensure that matters which are within the control of the government are concluded as soon as possible to allow the process to move and accelerate. The operator has already assembled their team to design the shortest possible pathway and I want to do what I can to assist in this regard.”

Today Police Commissioner, David Manning held hands with Australian Commander, Jamie Strauss to cut the ribbon to reopen the new look Boroko Police Station in Port Moresby.

The renovation and upgrade of the Police Station cost over K2million under the PNG- Australia Policing Partnership program.

It took nearly 3 months for refurbishment work all around the main office including installation of CCTV cameras and office setup.

AFP Commander, Jamie Strauss said the upgrade is a result of a review under the PNG-Australia Policing Partnership to improve the outlook of the police station and provide a welcoming environment for the general public to seek police services.

“Boroko Police Station is the heart of Policing in the City and AFP sees the need to assist by way of renovation. The Station is where the public and police interact often under difficult circumstances,” said Commander Strauss. He said the improvement is an integral part of the Community.

Strauss added that the Australian Government and Australian Federal Police are extremely pleased to ensure this renovation is completed and will continue the partnership which serves to better the people of Papua New Guinea.

Guest of Honor and Commissioner of Police, David Manning thanked the Australian Government for its continued support towards the Royal Papua New Guinea Constabulary.

Manning said AFP continues to work with RPNGC to harness and strengthen policing in the country. He said the new look Boroko Police Station is significant as it is one of the oldest and largest police posts in the country.

“The renovation is timely as policing becomes very challenging in the country.

The review and recent launch of the RPNGC Corporate Plan highlights the need to align efforts through partnerships which AFP has been at the forefront to assist us,” said Commander Manning.

Manning said the partnership with AFP is more than just a partnership but has looked into improving police work in core areas like prosecution, criminal investigations, professional standards, strengthening governance and improving accountability in both administration and operations wings.

The Police Commissioner added that significant work has been in progress and RPNGC will continue to embrace this venture.

“We will continue this partnership to uphold policing and develop our police capabilities for a better Papua New Guinea,” said Manning.

Manning then declared the reopening of the Boroko Police Station then unveil a plaque to signify the occasion.

President of the Autonomous Region of Bougainville, Ishmael Toroama says the 2022 Papua New Guinea National General Election will be the final election that Bougainville will take part in as the Island Region prepares for the final political settlement (not before 2025 and no later than 2027) in the quest for political independence.

President Toroama said the 2022 National Election is very crucial for the future of Bougainville as people elect their representatives in the 11th National Parliament.

“These leaders will determine our future based on their loyalty to Bougainville and commitment to serving our wish for independence that was expressed in 2019 Bougainville Referendum,” said Toroama.

The AROB President urged every Bougainvillean to look beyond campaign promises of monetary gain and delusions of grandeur that is evident during any election.

“We must vote for a person who will represent Bougainville and be the voice of the Autonomous Bougainville Government in Parliament.

President Toroama urged the voting population to vote for a leader who will not compromise the political resolve for Bougainville and one who is not afraid to stand within the halls of the National Parliament and fight for Bougainville’s Independence as a sovereign nation,” added President Toroama.

Toroama said AROB need leaders who will not succumb to the pressures of party politics and comprise. The President said AROB needs leaders who can proudly say the word Independence without looking over their shoulder.

“We must honor the Bougainville Peace Agreement and the memory of the twenty thousand lives lost during the Bougainville Civil War by electing leaders who will work with the ABG and truly drive forward the aspirations of our people,” said Toroama.

The AROB President also reminded people to maintain civility during the election period and to respect the electoral process as campaign is underway while polling and counting nears.

Toroama concluded by wishing all the candidates the best in their campaigning.

The Autonomous Bougainville Government is formulating a development plan that will look at improving development in the governance, infrastructure, economic and social sectors.

The Bougainville Vision and Strategic Development Plan 2052 is made up of Bougainville’s development objectives, strategies and financing plans to improve the region’s key development priorities.

Bougainville President, Ishmael Toroama said his government’s vision is for a prosperous, educated, healthy and sovereign Bougainville by 2052.

“The BVSDP 2052 will look at improving human development and capacity and focus on education and human resource development,’’ President Toroama said.

‘’It will emphasize on the provision of basic services to address the human needs on food security, shelter, health and security. Moreover, it will look at an overarching long term economic development plan for Bougainville,’’ added Toroama.

The Bougainville Vision and Strategic Development Plan 2052 is part and parcel of President Toroama’s Six Point Strategy under Point 5: Long Term Vision and Planning.

Its creation will be derived from the alignment of each of the ABG’s departments sector plans and will be integrated into the Bougainville Vision and Strategic Development Plan 2052.

The thirty-year plan is focused on independence readiness as well as the post-independence period where a future independent Bougainville government will work towards setting the foundations of all sectors of government for Bougainville.

‘’I want to encourage our Ministers and Departmental Heads to continue work to hard. We are at a transitionary phase from autonomy to independence where we are creating a new chapter for Bougainville,’’ said President Toroama.

‘’This requires us to be innovative and absolute in our commitment to Bougainville as we introduce new ideas, new ways of doing things and a new mindset that is focused on political independence that is complemented by socioeconomic growth,’’ President Toroama said.

‘’We all share a co-dependency in our existence as a people and government so we must work hard and collaborate at all sectors of development to ensure it is tangible and far reaching as possible,’’ President Toroama said.