Extractive sector optimistic with a

By MARK HAIHUIE
PNG Chamber of Mines and Petroleum president Gerea Aopi has described the updating of the extractive sector legislation as a “challenging” process.
He said this at the opening of the three-day Mining and Petroleum Conference at The Stanley Hotel and Suites in Port Moresby.
Despite the challenges, Aopi has commended the government for its proactive manner in consulting the industry on several legislative updates.
“We have found the task of updating the current legislation challenging because of difficulties the industry is facing in trying to align (itself) with government systems and processes,” Aopi said.
He told Prime Minister Peter O’Neill that his leadership had paved the way for open dialogue on some of the key challenges.
“The final outcome of the review of these legislations will be critical to future investment, mineral exploration and development,” he said.
“It is and will always be the chamber’s desire to work closely with the government to ensure that our shared aspiration of world-class industry operations impacting positively on the development of Papua New Guinea is sustained.”
Aopi also mentioned the review of the Mineral Resources Authority Act, the creation of the Petroleum Resources Authority and several taxation polices.