Move on mine laws praised

THE PNG Chamber of Mines and Petroleum has welcomed the government’s announcement that it intends to consult the industry on the review of the country’s resource laws.
Move on mine laws praised Move on mine laws praised Move on mine laws praised Move on mine laws praised Move on mine laws praised

Staff Reporter

The Chamber said this at the end of the 27th PNG Mining and Petroleum Conference in Port Moresby last week. This followed Prime Minister James Marape's keynote address in which it sas stated that the government would consult the industry on the review of key legislations such as the Oil and Gas Act, and the Mining Act of 1992.
"The industry is well aware of the financial challenges PNG is going through and we are happy that the Prime Minister has indicated his Government's willingness to work with the resource sector to re-ignite PNG's economic growth," the Chamber said.
"There are critical resource projects such as the Papua LNG, the P'nyang gas development and the Wafi Golpu project that have the capability to grow and consolidate our economy."
The Chamber said Marape's commitment was reaffirmed by the Mining Minister Johnson Tuke who invited all mining companies to work with the government to ensure the country and the investors received their fair share of the resource wealth. 
Tuke also outlined six key areas he wanted to work with the industry. These included mineral ownership; repository of production data at the Mineral Resources Authority; social levy on operating cost of mining companies; downstream processing; a gold bullion bank; and local content.