According to the MRA, the new system gives existing and prospective exploration and mining companies the opportunity for top-level security on their licence tenure.
Mining Minister Byron Chan said at the launch of the new system last week that security of tenure of licence was an important aspect of investing in any country.
"By embarking on this new system, the government is signalling to investors and people of Papua New Guinea that it is serious about making sure investors are comfortable and secure - considering that they spend millions of Kina on exploration expenditure," Chan said.
New software called FlexiCadastre is used to record and monitor the obligations outlined in tenement holders' work programmes and eliminate the possibility of overlapping tenements.
Currently working in accordance with the processes set out in the Mining Act 1992, the software has the capability to enable tenure management to be delivered over the internet, subject to amendments to be introduced in the revised Mining Act 2014.
Everything from lodging applications for grant to the final surrender of tenements has the potential to be completed online, including statutory reporting, provision of exploration and production data and compliance support.
The MRA said the new system brought considerable and necessary improvements.
"The old system was based on hard copy tenement applications and reporting, processed on forms developed as part of the Mining Act 1992," the MRA said.
"This manual system was slow and out-dated with respect to current work practices in the global mining industry.
"Industry and regulators now expect real time access to mining tenure processes, including digital reporting of exploration and mining activities for compliance and enforcement purposes.
"FlexiCadastre brings significant improvements to most of the administrative processes required under the Mining Act and its updates.
"It enables better, reliable and timely presentation of mining related data. This functionality should ensure a more convenient process for the granting and renewal of tenure in PNG and elevate MRA into the top tier of destinations for mineral explorers."