St Barbara (ASX:SBM) has received set dates of 8 and 9 April 2025 for hearings regarding the renewal of the Simberi mining lease on Simberi Island, Papua New Guinea.
The Warden Court hearings are the next step in the mining lease renewal process in accordance with the Papua New Guinea Mining Act.
St Barbara, which has a market capitalisation of $254.46 million, says once the Warden Court hearings have taken place, the Mining Advisory Council will make a final recommendation to the Minister for Mining.
“We are very grateful for the support of our renewal submission from all directors of the Simberi Landowner Association, the New Ireland Provincial Government, the Local Member of Parliament and from the Namatanai District Development Authority,” CEO Andrew Strelein says.
To date, the company has undertaken extensive discussions with stakeholders regarding submitting the early renewal application for Simberi.
St Barbara has also discussed a proposal for an enhanced net profits-based royalty under a new Simberi memorandum of understanding with stakeholders.
The Simberi Operations comprise an open-cut mine on the northernmost island in the Tabar group of islands in the province of New Ireland in Papua New Guinea.
St Barbara says it is an upcoming sulphide project which has potential to extend the mine life by at least 10 years.
St Barbara is an Australia-based gold-focused company with operations in Canada and Papua New Guinea.
Write to Aaliyah Rogan at Mining.com.au
Images: St Barbara
