The Simberi sulphide expansion operation announced will create economic growth which would benefit Papua New Guineans and increase revenue and profits for the company. Economic Growth: As the project expands, it may create more jobs both directly within the company and indirectly in related sectors (e.g., logistics, equipment supply, and services). This boosts the local economy and can lead to improved living standards for workers and communities around the project. Increased Revenues and Profits: With the ability to produce and sell more products, the expansion should lead to an increase in revenue for the company. This is a critical indicator of positive growth and financial health for the operation. Such move and deal is commended for it is in the best interest of the people of PNG and the core investors.
St Barbara is pleased to announce: - Submission for Mining Lease Early Renewal Application has been accepted and registered by Mineral Resources Authority of PNG, accompanied by letters of support from key community groups and stakeholders. - St Barbara’s proposal for an enhanced net profits based royalty has received strong stakeholder support and is proposed to be introduced into a new Simberi Memorandum of Agreement for the Sulphides expansion. - A Memorandum of Understanding has been signed whereby Kumul Mineral Holdings Limited (Kumul) and the Company will negotiate towards Kumul acquiring, at an agreed market value at the time of binding agreements, up to a 20% interest in an unincorporated joint venture over the Simberi Mining Lease and farm-in up to 20% in the Tabar Islands Exploration Licenses subject to satisfactory due diligence. - Acceleration of Simberi Sulphides continues to make good progress. #goldmining; #goldexploration; #PNG
