Newmont commits to PNG

Newmont has reassured the PNG Government that its operations , commitments and legal arrangements in the country remain unchanged.

The operator of the Lihir Mine made this comment, after International Trade and Investment Minister Richard Maru directed the Securities Commission to investigate Newmont's decision to relocate its country office to Australia.

Minister Maru said the move is a breach of the Memorandum of Agreement signed between the two parties in 2023 , which states that Newmont be based in PNG.

In a statement released on Wednesday, the Newmonth clarified that some structural organizational changes had to be made to better support the global footprint of its operations.

Newmont remains the largest company by market capitalisation on the PNG stock exchange, which has opened new avenues for investors and helped to reinforce the country’s international financial standing.