Chan praises local initiative

MINISTER for Mining Byron Chan has commended landowners at the Ok Tedi mine in Western for investing their pecuniary benefits into business ventures.
He attended the signing yesterday of the revised memorandum of agreement for the Ok Tedi Mine in Tabubil.
“I congratulate and salute you for providing the leadership to apply the benefits derived from the mine to your business investments that would sustain you after the mine closure,” Chan said.
He said stakeholders had established successful and diverse business operations which covered mine operations, engineering, tourism and hospitality, logistics, real estate, aviation, fisheries, agriculture and primary industry.”
He urged stakeholders at the new mines including Wafi and Frieda to learn from that “and even partner with you in developing their business opportunities”.
He encouraged the landowners to consider partnering with landowners from mines such as Lihir, Ramu and Porgera “to pool together your resources to create synergies that will impact and create significant business opportunities that will complement the government and the private sector’s efforts in creating jobs and increase trade”.
“The Ok Tedi mine generated a revenue of more than K56 billion from 1985 to 2016,” Chan said.
“From this, the total benefits to Papua New Guinea in goods and services, compensation, training and education, tax credit scheme projects, royalties, taxes, levies and dividends amounts to K20 billion over the same period.