The Project
The Project is more than just a Gold Refinery
The Project will be headed by the National Gold Corporation, the Papua New Guinea incorporated parent company (initially owned 50:50 by the State and Refinery Holdings Pte Ltd), and is comprised of distinct but integrated businesses operated within four 100% owned Papua New Guinea subsidiaries.
The Group subsidiaries and businesses are:
- National Gold Refinery
- National Mint & Gold Vault
- National Gold Bank
- National Gold Marketing
Group Subsidiaries
National Gold Refinery
- Refines all gold and precious metals mined or recovered in PNG by PNG alluvial and mining companies to international-grade pure metal.
- Produces international investment-grade gold and silver bullion bars.
National Mint & Gold Vault
- Mint new PNG National Bird of Paradise legal tender international investment grade gold & precious metal bullion currency coins.
- International standard, high-security gold & precious metals storage vault for domestic and international customers.
- Storage of National Gold Note Reserve gold & precious metal coins backing National Gold Notes.
National Gold Bank
- Gold and precious metals banking, bullion financing and trading services and facilities for PNG and regional miners.
- Issues the new National Gold Note negotiable instruments backed by the new National Bird of Paradise PNG legal tender and international investment grade gold and precious metal currency coins, and provides Note redemption services for noteholders to redeem their coins.
- Issues other gold and precious metals backed securities.
National Gold Marketing
- The exclusive domestic and international marketing business for the promotion, distribution and sale of the Group’s products and refining, minting and bullion banking services.
- Assists with other Government agencies in promotion of PNG as a tourist destination through developing Gold Tourism to PNG.