August 19, 2019 / 3:16 AM / a month ago

PNG plans to take bigger share of Porgera gold mine: commerce minister

SYDNEY (Reuters) - Papua New Guinea wants a larger share of the Porgera gold mine as part of lease-renewal talks, diluting the ownership of joint venture partners Barrick Gold Corp (ABX.TO) and Zijin Mining Group (601899.SS), the country’s commerce minister told Reuters on Monday.

PNG’s Minister for Commerce and Industry, Wera Mori, said a portion of Barrick and Zijin’s stakes would be given to the national and provincial governments and to landowners.

“We would like to see the mine to continue, but this time to be structured in such a way with a lot more national interest in it,” Mori told Reuters in an interview in Sydney.

Reporting by Jonathan Barrett in SYDNEY; additional reporting by Mell Chun; editing by Richard Pullin

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