The Porgera Gold Mine is one of the world’s top ten gold mines and the second-largest gold project in Papua New Guinea. Following the expiry of its previous mining lease, the mine was placed on care and maintenance in April 2020 and subsequently restarted after receiving a new special mining lease in October 2023. Production officially resumed on 22 December 2023, with our group now indirectly holding a 24.5% interest in the mine through BNL. According to BNL’s latest plan, Porgera has a remaining mine life of more than 20 years. Once ramp-up is complete and nameplate capacity is reached, the operation is expected to produce an average of 21 tonnes of gold per year, of which around 5 tonnes will be attributable to us. Since its initial commissioning in 1990, Porgera has contributed roughly 10% of Papua New Guinea’s annual exports, underscoring its strategic importance to the national economy.
| Location | Enga province, Papua New Guinea |
|---|---|
| Acquisition Date | 2015 |
| Equity Interest | 24.5% |
| Mining & Processing methods | Open-pit mining + underground mining |
| Deposit Type | Epithermal vein-type |
| Resources as of Dec 31, 2025 | 4,051 koz(126t) |
| Reserves as of Dec 31, 2025 | 1,408 koz (44t) |
The Porgera Gold Mine reported 1.5 tonnes of attributable gold production in 2025. It contributed 985 million Kina in taxes and royalties to Papua New Guinea, underscoring that the restarted mine has once again become a major engine of fiscal revenue for the national economy. In March 2025, Papua New Guinea's Conservation and Environment Protection Authority (CEPA) initiated a comprehensive environmental audit of the Porgera Gold Mine to review operations and historical impacts from the 1980s to the present. The steady ramp-up of gold production at the Porgera Gold Mine has become a key driver supporting Papua New Guinea's macroeconomic outlook and national fiscal revenue recovery.
Porgera Gold Mine is committed to"growing together"with its host communities, government partners, and other stakeholders. The project pays taxes and royalties to landowners, provincial authorities, and the national government in accordance with Papua New Guinea’s laws, and it maintains extensive commercial relationships with local businesses.
The operation supports local schools, medical facilities, and key public infrastructure projects, including water and electricity supply and road construction in Enga Province. Porgera’s social performance programs focus on improving livelihoods, expanding access to essential services, and ensuring that the long term benefits of mining are shared with surrounding communities.
