Company suggests PNG's relationship with China will suffer amid gold mine lease dispute - ABC News

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Chinese company suggests PNG relationship will suffer amid mine lease dispute

A major Chinese mining company has warned the Papua New Guinean Government it faces "significant negative impact" on bilateral relations with China if the company does not get a lease extension on a gold mine in the country.

Mr Marape said the decision "has been made in the best interest of our country and in full compliance to our existing laws".Barrick Gold and Zijin Mining Group both have a 47.5 per cent stake in the operations, amounting to 95 per cent. The final 5 per cent interest is held by the local Government and landowners.The ABC has obtained a copy of a letter sent this week to the Prime Minister from the chairman of the Zijin Mining Group, Jinghe Chen.

"Zijin has invested hundreds of millions of dollars in Porgera mine and the investment is one of China's largest in PNG," the letter reads.It goes on to say that as a Chinese enterprise, Zijin "would like to contribute to the existing good economic, trade, cultural and inter-governmental relations" between China and PNG.

The ABC has contacted Zijin Mining Group, the Porgera Joint Venture, the PNG Prime Minister's office and the Chinese ambassador's office for comment.Barrick Niugini Limited temporarily suspended operations at the mine on Saturday in response to the PNG Government's decision not to extend the lease. Mr Marape came to power fuelled by discontent among MPs about the resources sector and promising to "take back PNG".

 

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PNG signed up to the belt and road initiative and they're trapped in this situation of their own making, Victoria signed up to it, not smart

Bend the knee ?

Oh well, give the lease to someone else.

More threats.

End game: buy PNG🤔

The world suggests China will suffer after making so many enemies.

It's what they do. The world is sleep walking into this.

Don't give in PNG. Preserve your pristine environment.

More soft power bullying. This is their last gasp to lock down deals designed to prop up their dead economy. Don't give in PNG.

The only relationship that will suffer, is China's with the rest of the world!

Frig china

A private company threatens PNG stating that its relationship with China will suffer. As is usually the case the company is cited as having links to the CCP. No indication of what the Canadian shareholder Barrick Gold's stance is. Which CCP members have personal interests?

No good reason for corona virus china chino ok Japan too Only s.korea believe that ok thank you for your time ok

Somebody should tell PNG what China has done in Ecuador. Ripped them hard now China has rights to 80% of Ecuadors oil reserves exchange for q dodgey dam.

China’s tactic: they will lend you money to pay your debts then they will use and exhaust your natural resources! This is now happening in the Philippines! Richeydarian

All multinational mining companies behave like this. China is following the trend, not starting it.

Threatening them too now

So? Australia should be feeling guilty about China's behaviour to other countries? abcnews auspol

china is a bully with a victim complex.

Don’t they own it already

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