[Nanjing, November 2024] Recently,PNG (Ningbo) Mining Development Partnership(hereinafter referred to as "PNG Mining") and the Mineral Resources Authority of Papua New Guinea (MRA) successfully held a signing ceremony for gold mining title agreements at the Nanjing Geological Survey Center of the China Geological Survey (hereinafter the "Nanjing Geological Survey Center"). Representatives of both parties jointly signed cooperation agreements covering seven gold exploration and mining titles, marking a new stage of pragmatic cooperation between China and Papua New Guinea in geological surveying and mineral resource development. Holding the signing ceremony at the Nanjing Geological Survey Center carries special significance.
As an important technical support institution for China's geological survey, the Nanjing Geological Survey Center has long been committed to global mineral resource exploration and cooperation. In October 2024, Mr Gabriel Kuna, Chief Engineer of the Mineral Resources Authority of Papua New Guinea, led a delegation to visit the Nanjing Geological Survey Center, where the two sides reached important consensus on deepening geo-scientific cooperation. The signing of these mining title agreements is a concrete action to implement the outcomes of their earlier exchanges and to advance mining cooperation under the Belt and Road framework. Papua New Guinea is richly endowed with mineral resources, with abundant gold, copper and other deposits. In recent years, the PNG government has actively improved its mining investment environment, approving 44 mining lease applications in November 2024 to attract foreign investment and promote resource development. The cooperation on seven gold projects reached with PNG Mining is one of the important measures through which the PNG government is advancing its mining sector and converting its resource advantages into economic momentum.
Under the agreements, PNG Mining will obtain exclusive exploration and development rights to these seven gold projects. The company plans to introduce advanced exploration technology, green mining concepts and international management expertise, and to advance resource development in a scientific and efficient manner while strictly complying with local environmental regulations and social responsibility standards in Papua New Guinea. The two sides will establish a regular communication and coordination mechanism to ensure smooth project implementation. This cooperation is a model of mutual benefit. For PNG Mining, securing high-quality mining titles will further expand the company's business footprint in the Pacific region and enhance its international competitiveness. For Papua New Guinea, the implementation of these projects will directly drive local employment, infrastructure development and industrial chain growth, increase government revenue, and inject new vitality into sustainable economic and social development. At the signing ceremony, representatives of both sides expressed full confidence in the prospects for cooperation. PNG Mining stated that it will uphold the principles of extensive consultation, joint contribution and shared benefits, actively fulfil its corporate social responsibility, and promote harmonious coexistence with local communities. The representative of the Mineral Resources Authority of Papua New Guinea stressed that this cooperation is a vivid reflection of the friendly relations between the two countries, and looked forward to broader and deeper cooperation in the future. Looking ahead, with this signing as a new starting point, cooperation between China and Papua New Guinea in geological surveying, mineral exploration, technical exchange and talent training will surely continue to deepen, jointly contributing to regional economic development and the prosperity of the global mining industry.
