Newcrest Mining has completed the signing of new agreements for compensation, relocation and benefits sharing at its Lihir gold property in New Ireland Province, Papua New Guinea (PNG).

The miner said its Lihir Gold Limited subsidiary was one party to the deal with lease area landholders. The comprehensive evaluation of previous agreements conducted over several years was sanctioned by the National Governments Mineral Resource Authority and included a number of improvements.

For example, the new agreement boosts socio-economic development outcomes for landholders; additionally, it will enable benefits to be distributed directly to intended beneficiaries – adding an element of efficiency and transparency to distribution of compensation and benefits.

“The agreements are structured to provide a direct and transparent relationship between LGL and landholders and are valid for the term of Lihir’s special lining lease,” said Newcrest COO for PNG Craig Jones.

“These agreements build on the strong relationships developed with the mining lease area landholders over recent years and provides transparency of compensation, relocation and benefits sharing and clear accountability for the development agenda for Lihir Island.”

The Lihir operation is on Aniolam Island, about 900 kilometres from Port Moresby. Its sustainable mill processes 15 million tonnes per year at current.

The project employs about 4,500 people, a combination of residential and fly-in-fly-out (FIFO) personnel – 90% of which are Papua New Guineans.

Source: newcrest.com