Disturbing gold deal with Aussies

I WRITE to express grave concerns regarding the gold refinery agreement recently signed between the PNG Government and an Australian intermediary company.
This deal was struck without prior consultation with key stakeholders, including the National Executive Council (NEC) and Parliament, reflecting a disturbing lack of transparency and due diligence that undermines public trust and the principles of good governance.
Anti-corruption activists and industry stakeholders have revealed that the gold refinery project bypassed essential state protocols and processes.
A recent superficial stakeholder consultation led by Finance Minister Paita, lasting merely three hours, is wholly inadequate.
All 22 provinces demand comprehensive, provincial-based consultations, not rushed and insincere efforts.
This incident underscores a broader issue of insufficient stakeholder engagement in decision-making processes, which is crucial for maintaining transparency and accountability.
Additionally, the involvement of inexperienced ministers in managing such significant projects raises serious concerns about their capability to uphold state protocols and governance practices.
The hasty and unilateral actions of these ministers are fostering a growing sentiment of disillusionment and frustration among the public and stakeholders.
The current gold refinery agreement has been criticized as potentially harmful to the interests of PNG and its people.
It is imperative for the PNG Government to reconsider its approach to the gold refinery project.
The existing ownership structure, which favors an obscure Australian company, raises numerous red flags.
The project would be far more beneficial if its ownership and management were entrusted to local entities such as Ok Tedi, Kumul Minerals, Pacific Balanced Fund, superfunds and landowner companies.
This would ensure the benefits of the project remain within PNG, bolstering the local economy and empowering our citizens.
In light of these concerns, the prime minister must intervene and put the current agreement on hold.
A more thorough and inclusive consultation process should be initiated, involving all relevant stakeholders, to ensure the project aligns with national interests and sustainable development goals.
The Government must prioritise transparency, good governance, and the welfare of its citizens over hastily arranged deals that may compromise the country’s economic stability.
Ultimately, the Government must demonstrate a commitment to rectifying these governance issues.
By fostering a more inclusive and transparent decision-making process, the government can restore public confidence and ensure that the nation’s resources are managed responsibly and equitably.
The call for reform is clear: PNG’s leaders must act decisively to safeguard the country’s future and uphold the principles of good governance.

Reginald Renagi