Chan: Act captures mineral ownership

Business, Normal

The National, Friday November 27th, 2015

 By Shirley Mauludu

MINING Minister Byron Chan says the mineral policy legislative review by his ministry addresses mineral ownership and the national content which has been missing in the past.

He told the PNG Mining and Petroleum conference in Port Moresby yesterday that the changes introduced into the policies and the law had been endorsed by Cabinet in 2013.

“The changes were introduced after consultation with the provincial governments, landowners, civil society, non-government organisations and State agencies over a four-year period and specific consultation with the industry through the PNG Chamber of Mines and Petroleum.” 

He said it had been recognised at the outset that the mining law no longer applied on Bougainville.

Chan said the changes had been introduced into the revised Mining Act 2015.

“Up to 50 per cent of all mine products must be processed in the country, provided there is a processing plant producing internationally-acceptable and marketable products, and adequate security is provided,” Chan said.

“This is nothing new. It’s consistent with mining standard.”