Papua New Guinea (PNG) is a country rich in minerals, with copper and gold deposits that have supported the nation for many decades. Early operations such as the Panguna Mine played an important role in the country’s development and helped shaped the foundation of PNG’s modern mining sector.
Today, the industry continues to evolve. New opportunities are emerging, and PNG is taking steady steps to ensure its people benefit from these resources in a fair and sustainable way. Supporting this effort is Kumul Minerals Holdings Limited (KMHL).
Who We Are
KMHL is PNG’s national minerals company. It is incorporated under the Companies Act 1997 and authorised by the Kumul Minerals Holdings Limited Authorisation Act 2015 to be the State nominee in mining projects.
As the State’s representative, KMHL holds the Government’s shares in major mining operations and works on behalf of the people of PNG to protect and grow the country’s mineral interests.
We work closely with mining operators, investors, government agencies, landowners and local communities. Our role is to help deliver responsible, profitable and nationally beneficial mining projects.
Our goal is to turn PNG’s mineral wealth into lasting value for our people and our country.
Our Projects and Partnerships
KMHL has a mix of operating assets, new projects and future developments that place PNG in a strong position for long-term growth. Together, these projects tell the story of where the mining industry has come from and where it is heading.
Ok Tedi is one of PNG’s most important mines and a major contributor to the national economy. With 67% ownership, it is KMHL’s largest asset. The mine is known as a leading copper-gold producer and is expected to continue operating until 2050 and beyond, supporting long-term economic stability.
Ok Tedi has also helped build significant local capability. Skills, systems and expertise developed there continue to support other mining projects across the country.
The reopening of Porgera marks another important milestone for PNG. After several years of closure, the mine restarted under a new ownership and benefit-sharing model, with KMHL holding 36% on behalf of the State.
Operations restarted in December 2023, and commercial production began in June 2024.
KMHL is also carrying the full cost of the 15% share owned by Enga Province and landowners, ensuring they benefit from the project immediately.
New Porgera reflects a more inclusive and community-centred approach to mining in PNG.
Solwara 1 is a legacy deep-sea project. While it is no longer active, KMHL maintains the State’s 15% interest and continues to consider future options and lessons from the venture.
To support future discoveries, KMHL holds 3.2% in Tolu Minerals. Exploration is a vital part of PNG’s long-term mining future, and this investment helps keep the development pipeline active.
Wafi-Golpu is one of the most promising copper-gold projects in the region. The State has announced its intention to secure 30% ownership, with 20% to be held by KMHL once permitting is completed.
Key steps including the Mine Development Contract and Special Mining Lease are expected soon, and construction is targeted for 2028.
Once developed, Wafi-Golpu is expected to become one of PNG’s major long-term revenue sources and a significant contributor to economic growth in Morobe Province.
Our Role
KMHL’s role goes far beyond simply holding shares. We serve as a bridge between government, investors, communities and operators. Our work includes:
· Supporting landowner and community agreements
· Assisting with licensing and permitting
· Working closely with government agencies
· Negotiating project terms and agreements
· Supporting studies, construction and operations
· Upholding ESG and safety standards across all projects
Our approach is hands-on and grounded in local experience. We understand PNG’s land, culture and expectations, and we help investors navigate these respectfully and with confidence.
Our Development Strategy
The Company is committed to supporting sustainable growth across the entire minerals value chain from exploration to production and beyond.
At the heart of our strategy is the goal to help grow and strengthen PNG’s minerals industry for the long term.
This includes:
· Supporting new mining developments that bring investment and innovation
· Extending the life of existing mines to maximise value
· Exploring for new deposits to ensure ongoing sector growth
KMHL positions itself as a partner of choice for both domestic and international mining ventures. By encouraging investment and helping create stable, profitable operating conditions, we play a key role in navigating the complex state and regulatory processes behind mining in PNG.
Our involvement is flexible and depends on the opportunity. Whether partnering with operators, consolidating smaller prospects or developing strategic projects ourselves, KMHL brings local insight, technical expertise and a deep understanding of PNG’s unique operating environment.
We also represent PNG’s interests through mechanisms like the State Equity Option, helping ensure mining benefits are shared fairly and contribute meaningfully to national development.
Driving Sustainable Growth in PNG’s Mining Sector
We take a responsible and sustainable approach to all our projects. While we work to grow our portfolio, we also focus on protecting the environment and supporting the people who live around our operations. We want to create opportunities that benefit everyone and respect community expectations.
ESG Leadership: A Better Standard for Mining in PNG
KMHL is taking a leadership role in Environmental, Social and Governance (ESG) practices. With support from KPMG PNG, we are building a comprehensive ESG framework that includes:
· Clear reporting across all subsidiaries
· Measurable sustainability targets
· Annual sustainability reporting for transparency
We aim to set a higher standard for responsible mining in PNG.
KMHL as PNG’s Partner of Choice
As PNG’s national minerals company, KMHL is dedicated to ensuring that the benefits of mining reach all Papua New Guineans. We bring local knowledge, strong partnerships, commercial discipline and a long-term view to every project we support.
KMHL stands ready to work with companies, investors, communities and government to grow a minerals sector that supports jobs, builds prosperity and strengthens PNG’s economic independence. At the heart of our work is a shared belief that our mineral wealth should uplift our people and contribute to a stronger and more confident PNG.
