Chamber says gold refinery will have implications on industry

THE PNG Chamber of Mines and Petroleum is concerned that there has not been any consultation with the resource industry regarding the establishment of a gold refinery and mint facility in the country.
In a paid advertisement yesterday, the chamber said without consultation, implications on the gold industry could not be fully understood and decision makers would not be furnished with full knowledge to make important decisions.
“The Chamber of Mines and Petroleum place on record, major concerns on the enacting of an enabling legislation to establish a gold processing project in the country,” the chamber said.
“The Chamber represents all current gold mining and processing projects in the country envisages far-reaching ramifications for all companies participating in the mining industry, and serious impacts on our country’s status as an attractive investment destination for mineral exploration, development and investment.
“Consultation on any proposed legislation in the industry is essential.
“This is especially important for legislations that have far reaching implications for the revenue streams that fund the industry.
“There has been no consultation with industry about the proposed project, therefore, the industry and the business community in the country do not know the full implications of this project.
“We request for collaborative consultation on this legislation before it is tabled in Parliament, to ensure that the implications of the legislation on the industry can be fully understood.”
Former chief secretary Isaac Lupari also said more consultation needed to be done on the proposed facility.
Lupari said the proposal could provide unprecedented access by a foreign-owned company to what should be a significant state asset.
Prime Minister James Marape told Parliament yesterday that Government would ensure that any agreement signed with investors would not harm existing mine and alluvial mine operators in the country. He responded to questions from Opposition Leader Belden Namah regarding the project agreement.