Porgera Joint Venture

The Porgera Joint Venture is an open pit and underground gold mine located at an altitude of 2,200-2,700 meters in the Enga Province of Papua New Guinea. The operation is roughly 130 kilometers west of Mount Hagen and 600 kilometers northwest of the capital Port Moresby. The Porgera Gold Mine in Enga Province, Papua New Guinea, is operated by Barrick (Niugini) Limited ("BNL")- through an equal partnership between Barrick Gold Corperation and Zijin Mining Group Company Limited - which owns 95 percent participating interest in the Porgera Joint Venture (PJV). The remaining 5% in PJV is owned by Mineral Resource Enga (MRE) Limited - a consortium consisting of the Enga Provincial Government and the Porgera landowners. The Porgera Mine employs over 2,500 Papua New Guineans, and over the life of the mine has produced more than 20 million ounces of gold and contributed approximately 10% of PNG's total annual exports.