Newmont Lihir Gold Ltd.'s First Corporate Tax Payment of K852 Million Acknowledged by IRC

The Acting Commissioner General, Mr. Sam Loi, has officially acknowledged Newmont Lihir Gold Ltd. for its significant contribution to the nation's revenue. The company's first installment corporate tax payment, amounting to K852 million, stands as a testament to its commitment and the growing economic activity within the mining sector. This figure is not just a number; it represents a substantial leap from the K92.4 million paid in the corresponding period last year, underscoring a positive trajectory for the industry.

This achievement marks a new benchmark, as it is the highest first installment contribution recorded in the sector to date. Such substantial payments are crucial for funding public services and infrastructure development, directly benefiting the people of Papua New Guinea. The mining sector's robust performance, as evidenced by this tax contribution, signals a healthy economic outlook and reinforces the importance of responsible resource management.

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The Acting Commissioner General, Mr Sam Loi, in receiving the cheque, has acknowledged Newmont, Lihir Gold Ltd for delivering one of the highest first instalment corporate tax payments of K852 million.

For Papua New Guinea, the mining sector is a vital pillar of the economy. Large contributions like this from Newmont Lihir Gold Ltd. are closely watched and celebrated, as they directly impact the government's ability to invest in national development. While international coverage might focus on the global mining market, here in PNG, we see this as a direct injection of funds that will support our communities and national progress. It highlights the critical role that major mining operations play in our economic landscape and our aspirations for growth.

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A substantial increase from K92.4 million paid during the corresponding period last year, and the highest first instalment contribution recorded in the sector to date.