St Barbara nears PNG lease extension, resolves tax dispute

St Barbara Limited announced that the Papua New Guinea (PNG) minister of mining received formal documentation and recommendations on September 3, 2025, for the extension of Simberi Mining Lease 136 until 2038. This follows a Mining Advisory Committee recommendation on August 10, 2025.

The PNG Internal Revenue Commission (IRC) has confirmed it will revoke previous tax assessments from December 2024 and reissue revised assessments as early as September 19, 2025. St Barbara's subsidiary, Simberi Gold Company Limited (SGCL), had formally objected to the initial reassessments in mid-February 2025. The mining minister has stated that the mining lease extension can proceed once these reassessments are clarified and the tax matters are regularised.

SGCL, which has operated the Simberi Mine since 2012, affirms full compliance with tax obligations and expresses commitment to resolving the IRC matter. The resolution of this outstanding tax matter is crucial for financing preparations for the final investment decision and the development timetable of the Simberi Expansion Project.