Barrick Gold said it has begun recommissioning the Porgera gold mine in Papua New Guinea following the formal completion of a commencement agreement.
Porgera, an open pit and underground gold mine, has been in care and maintenance since April 2020. Barrick said it anticipates mining and processing to restart in the first quarter of 2024.
The equity in the mine is shared 51% by PNG stakeholders, including local landowners and the Enga provincial government, and 49% by Barrick Niugini Ltd (BNL), a joint venture between Barrick and China’s Zijin Mining.
BNL will operate Porgera, which is located at an altitude of 2,200-2,600 metres in the Enga Province. It joins Barrick’s sector-leading gold asset portfolio with the potential for a Tier One production profile.
Source: Barrick Gold