18/05/2026
Newmont Papua New Guinea thanks the Internal Revenue Commission PNG for highlighting Newmont Lihir’s first 2026 Corporate Tax payment of K852 million to the Government and people of Papua New Guinea👏
This acknowledgement underscores the strength of the partnership between the resource industry and the State, and reflects a shared commitment to transparency, compliance, and national development.
Key points highlighted by Acting Commissioner General Sam Loi include:
✅ The significant payment of K852 million is one of the highest first instalment corporate tax contributions ever recorded in the mining sector.
✅ Newmont’s first instalment in 2026 shows strong growth compared to K92.4 million during the same period last year.
✅ Recognition that contributions are aligned with prevailing international gold prices and real-time profitability.
✅ A clear message that transparency, compliance, and collaboration between the State and industry deliver meaningful outcomes for the country.
We appreciate IRC’s continued commitment to administering the tax system with integrity and consistency and their role in supporting Papua New Guinea’s economic future.
IRC Acknowledges Newmont Lihir Gold Ltd’s First Instalment Corporate Tax Contribution in the Mining Sector
15 May 2026| Port Moresby| The Acting Commissioner General Mr Sam Loi in receiving the cheque has acknowledged Newmont, Lihir Gold Ltd for delivering one of the highest first instalment corporate tax payment of K852 million — a substantial increase from K92.4 million paid during the corresponding period last year, and the highest first instalment contribution recorded in the sector to date.
The Acting CG stated that the strong outcome reflects the value of constructive engagement and close collaboration between the IRC and the extractive sector, particularly through transparent administration in accordance with prevailing market-based valuation principles under the tax legislation. He noted that the assessment was driven by prevailing international gold prices, with the IRC applying current market value benchmarks to ensure that the taxes assessed and paid accurately reflect the sector’s earnings performance.
He further emphasized that the advance corporate tax system is grounded in the principle of paying tax in line with current-year quarterly earnings and profitability reflecting real-time profitability and economic activity.
“This result demonstrates what is possible when there is transparency, compliance, and mutual confidence between the State and industry. Strong commodity prices are expected to translate into fair and timely returns to the country, and the IRC remains duty bound to administering the tax system with integrity, consistency, and commercial awareness,” the Acting CG said.
The payment highlights the growing contribution of the resources sector to national revenue and reinforces the importance of predictable tax administration, responsible corporate citizenship, and continued partnership in supporting Papua New Guinea’s economic future.
Approved for release,
SAM LOI
Acting Commissioner General