FOR IMMEDIATE RELEASE 10-12-2024
Port Moresby, December 11, 2024 – The Minister for International Trade and Investment, Hon. Richard Maru, has expressed grave concerns over Newmont Corporation’s decision to shift its country office to Australia, an action that represents a direct violation of the commitments outlined in the Memorandum of Agreement (MOA) with Papua New Guinea (PNG). Amongst others, one of the understandings reached on October 9, 2023, was for Newmont’s head office to be based in the country for mutual benefits, foster economic growth, and to uphold national interests.
The agreement obligated Newmont Corporation to prioritize its operational presence in PNG when acquiring Newcrest Interest, which is now being undermined by the closure of its PNG office. The Newmont Corporation have now made redundant its Country Manager in PNG and relocated its head office to Aus
