porgerajv company page porgera gold mine papua
The Porgera Gold Mine in Enga Province, Papua New Guinea, is owned by the Porgera Joint Venture (PJV). It is operated by Barrick (Niugini) Limited which owns 95 percent participating interest in PJV. The remaining 5% is owned by Mineral Resources Enga Limited. Mineral processing facilities include leading systems such as edge pressure oxidation and autoclave technology. Porgera is one of the most profitable gold producers in the world, with gold extraction costs at US$250 an ounce and average world gold prices at about US$340 an ounce. In 1996, the mine produced 850 000 ounces of gold.