RE:RE:MOAAs I understand it, (and the articles are not always crystal clear), K92 and PNG revised the MOA in 2020. This article said most of the key points had been agreed upon by parties involved, and following review and approval by PNG gov't departments, the MOA would be implemented.
July 18, 2020 - https://theworldnews.net/pg-news/k92-mine-lo-s-to-get-5-equity
A five percent equity interest in the K92 Mine in Eastern Highlands will be transferred to the Bilimoia Landowners Association by developer K92 Mining Incorporated.
This is one of several separate benefit packages apart from the K92 Mine revised Memorandum of Agreement (MoA) concluded on Friday.
Parties to the K92 Mining Project settled the second review of the project’s MOA on a high note, agreeing in-principle to the various commitments.
The K92 Mine MoA review discussions in Kokopo, East New Britain included Royalty distribution, Special Support Grants, Infrastructure development, Business Development and Training & Employment, amongst others.
From these discussions a number of separate benefits packages were announced.
They include:
-
The transfer of five percent equity interest of the project, to the Bilimoia Landowners, Associated Landowners and Provincial Government, by the developer K92 Mining Inc.
-
K1 million community projects development funding from K92 Mine Inc,
-
K100, 000 funding for Kainantu Women In Mining by the Eastern Highlands Provincial Government which was announced by the Governor of the province Hon Peter Numu.
-
K1 million for tender of the maintenance of the Konkua – Biliomoia road
-
State commitment to upgrade and seal the Konkua to Bilimoia 2 village.
Following the review the State, K92 Mining Limited and the Provincial Government will conduct consultations with the BLA to discuss the Business Development Plan, Employment and Training Plan and the Future Generation Trust Funds.
The revised MoA will then go through approvals from various departments on the State’s commitments, followed by legal clearance from the Office of the State Solicitor, and approval by the National Executive Council (NEC).
Following this the revised MoA will be implemented.
The parties have acknowledged that the agreement reached in the MoA, and the commitments of the separate benefits packages promote good-will and a harmonious working spirit amongst everyone.
Also, on the K92 website, note their comments regarding their various Leases in PNG:
Three Key Mining Licenses – Exploration Lease, Special Mining Lease, Mining Lease (Renewal of ML is much simpler than then SML given that it does not require deliberations from the National Executive Council). K92 operates under a Mining Lease.