PNG joins anti-corruption in mining initiative

PAPUA New Guinea has been approved as a member of an international initiative working to combat corruption in the energy and mining industries.
PNG joins anti-corruption in mining initiative PNG joins anti-corruption in mining initiative PNG joins anti-corruption in mining initiative PNG joins anti-corruption in mining initiative PNG joins anti-corruption in mining initiative

The Extractive Industries Transparency Initiative board approved PNG's application for EITI candidate status at a meeting in Oslo.

PNG has three years to implement the EITI standard, which aims to ensure more transparency of payments to the government from the oil, gas and mining companies in the country.

A report to the board noted PNG had significant copper and gold deposits and an estimated 8 trillion cubic feet of natural gas reserves.

EITI chairman Clare Short said: "I am encouraged by the commitment of the government of Papua New Guinea to more transparent management of the country's natural resources for the benefit of its people."

As an EITI candidate country, Papua New Guinea has to start disclosing payments and other data about its extractives sector, including information on license holders and license allocations, production data and other contextual information about the extractive industry.

Welcoming the board's approval, PNG Chamber of Mines and Petroleum executive director Greg Anderson said: "EITI implementation demonstrates that PNG is a world-class extractives sector.

"It comes at a critical time in PNG's development with the first LNG deliveries scheduled to begin in 2014," he added.

PNG Transparency International executive director Emily Taule also welcomed the board's decision.

"The EITI information will enable the public, with the support of organisations like TI to better hold the Government to account in its management of our natural resources," she said.

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