A draft memorandum of agreement has been signed after a deal was reached between the state government, Central provincial government, Woitape local level government and the Yulai Landowners Association.
Each of the parties involved agreed to undertakings including business and infrastructure development, training and a tax credit scheme, according to the Minerals Resources Authority.
The state-owned and operated mine in Central Province was halted due to industrial action in May and there has been scant reporting on it since.
Talks over a revised memorandum of agreement between government and landowner officials resumed in August, but there has been little information made public on the progress of talks or even whether the mine was operating.
The MRA said leaders of all parties had expressed satisfaction on the achievement and were happy that all parties could see the importance of delivering much-needed benefits - especially to the landowners of the project site and impacted communities.
Yulai Landowners Association chairman George Gusi said he was happy that his people had negotiated a better deal.
He said one of the commitments made by Tolukuma, which he was particularly happy about was the development of TGM's business plan, which would create business spin-offs for landowners.
TGM representative John Kuga said the company was satisfied with the outcome of the negotiations.
"The MoA will benefit all parties especially landowners," he said.
Kuga said the company's business development plan would enable them to offload business spin-off activities such as the provision of catering and security services to landowners.
The original MoA was signed in the 90s, and was last reviewed and signed in 2007.
The draft MoA will go to the state solicitor's office for legal clearance and advice and then to the National Executive Council for the final endorsement.