Council urged to endorse mining bill

By SHIRLEY MAULUDU
IT is important that the National Executive Council (NEC) endorses the Mining Bill before tabling during the first Parliament sitting this year, an official says.
Department of Mineral Policy and Geohazards Management secretary Harry Kore told The National that this would ensure PNG maximised its benefits from exploitation of the country’s natural resources.
“The Mining Bill looks at our past experiences and adopts international best practice principles and strengthens the regulatory framework to ensure the Mineral Resources Authority (MRA) is empowered to regulate the industry effectively and is able to enforce the provisions of the law to protect the interest of the State,” he said.
Kore added that the potential for a successful outcome of the State’s interest in development of upcoming mineral projects depended on it taking decisive action on the revised Mining Act.
He said this would give a sense of direction and certainty to the industry. “The numerous claims by the PNGCMP (PNG Chamber of Mines and Petroleum) that the introduction of the revised Mining Act will be detrimental to the economy of the country is totally misleading and speculative,” he said.
“The PNGCMP has not clearly articulated these speculations nor responded to the State’s requests for an analysis of a financial model outlining the anticipated negative impacts on the economy. However, the State’s assessment of the impacts of the current arrangements and agreements, the application of the tax laws, the applicable rates, the environmental impacts, the many legacy issues and the EITI (Extractive Industries Transparency Initiative) report leaves a lot to be desired.”
Kore said mining was a vital sector that directly affected the livelihood of Papua New Guineans.
“Whether the impact is positive or negative depends on the collaborative efforts of every stakeholder and the desire to work together,” he said. “While the mining sector claims to be a significant contributor to the PNG economy, it can only do so with a complete paradigm shift in the way of doing business.”

in PNG.”