Overview
| Status | Care and Maintenance |
| Mine Type | Open Pit & Underground |
| Commodities |
|
| Mining Method |
- Truck & Shovel / Loader
- Longhole stoping
- Paste backfill
|
| Production Start | ...  |
| Mine Life | 2023 |
Porgera has been on care and maintenance since April 2020 when the government declined to renew its special mining lease.
On February 3, 2022, the Framework Agreement (signed April 9, 2021) was replaced by the more detailed Porgera Project Commencement Agreement (the “Commencement Agreement”).
The provisions of the Commencement Agreement will be implemented, and work to recommence full mine operations at Porgera will begin, following the execution of a number of definitive agreements and satisfaction of a number of conditions. On April 7, 2022, one such definitive agreement, the Shareholders' Agreement for the new Porgera joint venture company was signed by BNL’s affiliate, Porgera (Jersey) Limited, and the state-owned Kumul Minerals (Porgera) Limited, and is awaiting signature by MRE to take effect. This would clear the way for the incorporation of a new Porgera joint venture company and the application for a new Special Mining Lease, a condition of the Porgera mine's reopening. |
Source:
p. 35,84
On April 7, 2022, the Shareholders’ Agreement for the new Porgera joint venture company was signed by Porgera (Jersey) Limited, which is an affiliate of Barrick Niugini Limited (“BNL”), and the state-owned Kumul Minerals (Porgera) Limited. The Shareholders’ Agreement will become effective following signature by Mineral Resources Enga Limited (“MRE”), the holder of the remaining 5% of the original Porgera joint venture not owned by BNL, which will allow for the incorporation of a new Porgera joint venture company and application by this entity for a new Special Mining Lease, a condition of the reopening of the Porgera mine under the Commencement Agreement.
BNL is jointly owned on a 50/50 basis by Barrick and Zijin Mining Group. Accordingly, following the implementation of the Commencement Agreement, Barrick’s current 47.5% interest in the Porgera mine is expected to be reduced to a 24.5% interest. BNL will retain operatorship of the mine.
Contractors
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Deposit Type
- Breccia pipe / Stockwork
- Epithermal
- Vein / narrow vein
Summary:
Porgera Mine is an epithermal vein-type gold-silver deposit but it shares many characteristics with porphyry copper deposits. Remnant heat from the intrusive rocks drove the boiling and upward migration of hydrothermal fluids and resulted in the emplacement of mineralization. The movement of these fluids was controlled by permeability of the rock mass, which developed in and around faults and tectonic zones of dilatancy. As such, the mineralization tends to occur in tabular bodies and breccia zones, the geometry of which is strongly influenced by the orientation of fault structures and subsidiary fractures. Deposition of ore minerals in epithermal systems is also dependent upon temperature and hydrostatic pressure. These conditions are generally closely related to elevation, with reduction of both temperature and pressure as the fluids migrate upwards.
Mining Methods
- Truck & Shovel / Loader
- Longhole stoping
- Paste backfill
Summary:
The Porgera Joint Venture is an open pit and underground gold mine located at an altitude of 2,200- 2,600 meters in the Enga Province of Papua New Guinea.
The Open Pit mine is 500 meter deep, below the highest point of surface topography and approximately 30 million tonnes (t) of ore per year is excavated. The material mined is a combination of gold bearing ore and barren waste.
Pit dimensions: 2.0km long x 1.2km wide x 400m deep.
Mining in the open pit is undertaken on 10 meter high benches. When the material is too hard to be free dug, the rock is drilled and blasted with a range of drill patterns to suit the litholog.
The Open Pit is a conventional truck and shovel operation and is serviced by a large modern mining fleet of 175t and 90t haul trucks, loaded by 200t and 120t shovels and excavators. There are also smaller 40t and 35t excavators for ancillary work.
The Porgera Underground Mine is a modern, trackless mine, producing approximately 1.4 million tonnes of ore per year from three primary production areas: North Zone, East Zone and AHD.
The underground (UG) operation mines the lodes at depth currently up 330 meter beneath the current pit floor. The Underground operation has a strike extent of approximately 1.6 kilometer (km). The primary access is via a twin decline system from surface with secondary internal accesses connecting the various mining areas.
Mining is done by convention long ho ........
Source:
- subscription is required.
Flow Sheet:
Summary:
- subscription is required.
Production:
On April 25, 2020, Porgera was placed on care and maintenance after the Government of Papua New Guinea communicated on April 24, 2020 that the Special Mining Lease would not be extended.
| Commodity | Units | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|
Gold
|
koz
| ...... | ...... | 430 | 495 | 493 | 554 | 519 |
All production numbers are expressed as metal in conc./ doré.
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Operational Metrics:
| Metrics | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|
Total tonnes mined
| ...... | 27,697 kt | 20,762 kt | 24,219 kt | 16,924 kt | 22,139 kt |
|
Ore tonnes mined
| ...... | 5,789 kt | | | | |
|
Waste
| ...... | 21,907 kt | 17,956 kt | 20,867 kt | | |
|
Stripping / waste ratio
| ...... | 5.7 | 15 | 12.9 | | |
|
Tonnes processed
| ...... | 5,558 kt | 4,501 kt | 5,891 kt | 5,705 kt | 6,323 kt |
|
Daily milling capacity
| ...... | | | 16,100 kt | 15,600 t | 15,200 t |
|
Daily mining rate
| ...... | | | | 45.9 kt | 62.1 kt |
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Reserves at December 31, 2021:
| Category | Tonnage | Commodity | Grade | Contained Metal |
|
Proven
|
2.4 Mt
|
Gold
|
6.79 g/t
|
0.5 M oz
|
|
Probable
|
30.2 Mt
|
Gold
|
4.59 g/t
|
4.49 M oz
|
|
Proven & Probable
|
32.6 Mt
|
Gold
|
4.75 g/t
|
4.9 M oz
|
|
Measured
|
2.6 Mt
|
Gold
|
6.66 g/t
|
0.57 M oz
|
|
Indicated
|
57.1 Mt
|
Gold
|
4.09 g/t
|
7.76 M oz
|
|
Measured & Indicated
|
59.7 Mt
|
Gold
|
4.25 g/t
|
8.16 M oz
|
|
Inferred
|
21.6 Mt
|
Gold
|
3.5 g/t
|
2.41 M oz
|
Commodity Production Costs:
| | Commodity | Units | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|
Cash costs
|
Gold
|
USD
|
|
|
810 / oz
|
791 / oz
|
697 / oz
|
794 / oz
|
|
Cash costs
|
Gold
|
USD
|
|
|
796 / oz†
|
781 / oz†
|
689 / oz†
|
791 / oz†
|
|
Total cash costs
|
Gold
|
USD
|
......
|
......
|
|
|
|
|
|
Total cash costs
|
Gold
|
USD
|
...... †
|
...... †
|
|
|
828 / oz†
|
878 / oz†
|
|
All-in sustaining costs (AISC)
|
Gold
|
USD
|
......
|
......
|
1,097 / oz
|
1,003 / oz
|
866 / oz
|
1,021 / oz
|
|
All-in sustaining costs (AISC)
|
Gold
|
USD
|
...... †
|
...... †
|
1,083 / oz†
|
993 / oz†
|
858 / oz†
|
1,018 / oz†
|
|
All-in costs
|
Gold
|
USD
|
......
|
......
|
1,097 / oz
|
1,003 / oz
|
866 / oz
|
1,021 / oz
|
|
All-in costs
|
Gold
|
USD
|
...... †
|
...... †
|
1,083 / oz†
|
993 / oz†
|
858 / oz†
|
1,018 / oz†
|
† Net of By-Product.
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Operating Costs:
| | Units | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|
OP mining costs ($/t mined)
|
USD
| 4.18 | 3.6 | 4.03 | 4.53 | 5.51 | 4.66 |
|
UG mining costs ($/t mined)
|
USD
| ...... | ...... | ...... | ...... | ...... | ...... |
|
Processing costs ($/t milled)
|
USD
| ...... | ...... | ...... | ...... | ...... | ...... |
|
G&A ($/t milled)
|
USD
| ...... | ...... | | | | |
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Financials:
| | Units | 2020 | 2019 | 2018 | 2017 | 2016 |
|
Capital expenditures
|
M USD
| ...... | ...... |
131
|
116
|
86
|
|
Sustaining costs
|
M USD
| ...... | ...... |
131
|
116
|
86
|
|
Revenue
|
M USD
| ...... | ...... |
|
|
|
|
Operating Income
|
M USD
| ...... | ...... |
|
|
|
|
EBIT
|
M USD
| | |
|
|
|
|
EBITDA
|
M USD
| ...... | ...... |
|
|
|
Corporate Filings & Presentations:
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