New Simberi combines the operating oxide open-pit mine with the FID-approved sulphide expansion. Lingbao and St Barbara each own 50% of the holding company; Kumul's proposed 20% project acquisition had not completed at 30 June 2026. Simberi Gold Company Limited’s PGK523 million PNG Internal Revenue Commission assessment remains unresolved and is disputed in full. St Barbara retains responsibility for the objection and any subsequent appeal. The primary assessment liability sits with Simberi Gold Company Limited; St Barbara has contingent indemnity exposure to Lingbao for 50% of any dividend withholding tax, 50% of any interest and penalties arising on the assessment, and 50% of related objection costs, in each case if and once determined payable. St Barbara has no indemnity or other obligation for corporate income tax payable on determination of the Allowable Capital Expenditure (ACE) assessments. No provision has been recognised for the assessment or indemnity exposure.
- Country
- Papua New Guinea
- Commodity
- Au
- Stage
- Production