By JOE GURINA
THE landowners of the Tolukuma gold mine in Central province have welcomed the announcement of an interested investor to develop the mine in Goilala district.
Yulai landowner association chairman George Gusi in an exclusive interview, said the landowners are content to work in partnership with any interested investor that seeks its expression to drive the development of the mine.
Local investor Lole Mining Company is the new interested applicant for the mine that has indicated to acquire 100 percent interest of the mine.
The new investor showed its interest after an earlier arrangement by Tolukuma Corporation did not work out due to COVID-19.
The earlier arrangement by Tolukuma Corporation Limited was that, the investor would spend K50 million on the mine refurbishment and environment work and K15 million be paid to the liquidator to settle outstanding debts.
However, this did not eventuate and so liquidator Andrew Pini in a letter to the Mineral Resources Authority (MRA) had made known the new investor’s interest over the mine.
Gusi urged MRA to fast-track and transfer the license to the new investor as requested by the liquidator, because the landowners have suffered in the long while when the mine went into liquidation.
He said it is in the best interest of the landowners, the entire people of Goilala district, Central province and the nation as a whole to benefit from the mine.
Gusi also thanked Prime Minister James Marape in amending the Mining Act 1992 with his ‘Take Back PNG’ initiative that will propel landowner benefits.
He said Tolukuma has the potential of 11 tenements more to mine and has asked the national government to extend the mining license from Small Scale Mining License (SSML) to Special Mining Lease (SML) to boost the economy of the country.
“The development of the mine will see improvement of livelihood, better delivery of education support services and health provisions to the entire Goilala district and even enrich economic growth for the locals in the area,” the chairman said.
He however, challenged the new investor to meet landowner ultimatum pertaining to any agreements reached by both parties.
Gusi said he did not want any repetition from past developers.
He thanked the parties involved in negotiating the redevelopment of the mine after the operation was shelved for the last four years.
Meanwhile according to MRA managing director Jerry Garry, a team from MRA is being tasked to review this new arrangement under the provision of how much and how long they can mine.
The new investor’s intentions will follow due process in which the Mining Advisory Council will make a decision based on the investor’s work program.