Chamber: Review laws

THE PNG Chamber of Mines and Petroleum says laws regulating the mining and petroleum industry should be updated from time to time to reflect changes in community norms and technology.
“The mining and petroleum sectors are important contributors to the national, provincial and local economies,” it said in a statement.
“The taxes and dividends paid to the Government are very significant as are the benefits provided to host communities such as royalties, employment, education and training, health, infrastructure and small-to-medium enterprises. An internationally competitive and stable legal, fiscal and regulatory regime is a key enabler to ensuring these benefits are maintained and that there is continuous growth in the mining and petroleum sectors.
“PNG has a sound and successful resource legislation. But like all similar legislation worldwide, they need to be updated from time to time.”