Newcrest Mining signs MOU with Papua New Guinea

Company News

by Anna Napoli

Newcrest Mining (ASX:NCM) and its Wafi-Golpu Joint Venture partner, Harmony Gold Mining have signed a MOU with the independent state of Papua New Guinea.

The agreement establishes the framework for the parties to progress the permitting of the project as quickly as possible in accordance with regulatory processes.

Newcrest says the MOU re-affirms the intention of the parties to complete the permitting process and achieve a grant of special mining lease by 30 June 2019.

The mining company says as a result of the agreement the joint venture is completing approval processes to commence a substantial work program.

Shares in Newcrest Mining (ASX:NCM) closed 1.08 per cent lower to $21.07 yesterday.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.