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Kumul Minerals Takes the Lead on ESG in PNG

Port Moresby, Papua New Guinea – March 5, 2024. Kumul Minerals Holdings Limited (KMHL), the National Minerals Company of Papua New Guinea has announced that it will take the leading role on the introduction of sustainable mining practices in PNG. KMHL has engaged KPMG-PNG to assist in developing its Environmental, Social, and Governance (ESG) Framework, which will include disclosure of key performance metrics of its subsidiaries and setting targets for improving this performance. 

As part of this initiative, KMHL hosted an ESG education session on 19th February which was attended by representatives from 14 organizations across the Government and its agencies, resources industry peers, financial institutions and environmental agencies. This session was followed by stakeholder interviews to gain an objective understanding of the environmental, social and governance concerns relevant to KMHL. The information gathered will then be used in the development of an ESG Policy and production of annual sustainability disclosures.  

Sarimu Kanu, Managing Director of KMHL, expressed enthusiasm about KMHL’s role in promoting ESG within PNG. “Our objective is to establish a robust KMHL ESG Education and Sustainability Plan, potentially the first of its kind in PNG,” he stated.   

“As the National Minerals Company, Kumul Minerals Holdings Limited takes pride in its commitment to sustainability and appreciates the active participation of all stakeholders. We have a real opportunity to ensure that PNG minerals projects are developed with the highest standards of sustainability practices, and so to capture the most value of PNG minerals for the people of PNG while at the same time having the lowest possible impact on the environment and affected communities.”  

“Kumul Minerals’ vision is to be a world-class mineral resource company that delivers value to its shareholders, stakeholders, and the nation. KMHL’s mission is to develop and operate its mineral assets in a sustainable, responsible, and profitable manner.”