Prime Minister Hon. James Marape has commended Lihir Gold Limited (LGL), a subsidiary of Newmont Corporation, for its substantial corporate tax payment of US$55.8 million (approximately K213 million) to the Internal Revenue Commission (IRC) today, reflecting its continued commitment to contributing meaningfully to the national economy.
The payment, recorded on 30 July 2025, was remitted directly to the Bank of Papua New Guinea, with the beneficiary listed as the Internal Revenue Commission. This amount represents the second instalment under LGL’s Additional Profits Tax (APT) obligations for the current fiscal year.
Prime Minister Marape praised LGL’s timely and transparent compliance, stating:
“I commend Lihir Gold Limited for honouring its tax obligations with such a significant remittance. This payment of over US$55 million in corporate tax reflects responsible corporate citizenship and shows what can be achieved when resource companies operate within our legal and fiscal framework.
“Such revenues are critical to our government’s efforts to invest in infrastructure, education, health, and rural development, especially as we mark our 50th year of independence. This is the type of partnership we want with the resource sector – one that delivers for both shareholders and citizens.”
The Prime Minister also highlighted that this remittance marks a historic first in terms of how the payment was made.
“I’m happy that Newmont is now finally transferring corporate tax in actual cash to the IRC,” Prime Minister Marape said. “From what I have been advised, this is the first time there has been a direct cash transaction to the IRC from the Lihir operation.
“In the past, although some tax was paid, much of it was rebated through GST refunds. This payment is a positive step forward, particularly for a mine where the State does not hold equity and where all national revenue is derived from taxes – including corporate income tax, personal income tax, GST, and employment-related levies. I look forward to more of such direct contributions.
“The State has had no equity in this major gold project since its inception in 1997.
“My government made an amendment to the Mining Act in 2020, and since then, all production areas—including at Lihir—have in-built observation systems, allowing the State to know exactly how much gold is being produced.
Prime Minister Marape commended Newmont for demonstrating a greater willingness to cooperate with government since assuming control of the mine:
“Since coming on board, Newmont has shown a stronger propensity to work with government. I want to sincerely thank them, and acknowledge their corporate counsel and leadership for fostering this more transparent, constructive partnership with the State. This is the kind of engagement we welcome.”
Prime Minister Marape reiterated his government’s commitment to fostering a fair and predictable fiscal regime that encourages investment while ensuring Papua New Guineans benefit equitably from the nation’s natural resources.
“We want to provide a stable and transparent environment for investment, but we also want a fair return to our people. I thank Newmont and Lihir Gold for their continued cooperation and look forward to further collaboration in advancing our shared development goals.”
The Marape-Rosso Government continues to drive reforms aimed at increasing transparency, efficiency, and equity in resource taxation, while encouraging reinvestment and sustainable development across Papua New Guinea.