Landowners are not scaring investors or greedy

Letters, Normal

I READ with interest three letters about the proposed amendments to the Mining, Oil and Gas Acts in The National on Tuesday.
It is my personal opinion that Parliament must pass the proposal so that landowners are empowered to become real resource owners.
This will give them a say in the exploitation of the resource and compensate them adequately for the destruction to their environment and way of life.
Misima, Ok Tedi and Bougainville are examples of unjust exploitation and massive destruction.
I agree that amendments will have bearings on other related legislations.
They must be worked out in a coherent manner.
Maybe we should just amend the Mining Act first and leave the Oil and Gas Act till later.
Whatever the case, we cannot rush.
Most resource owners are responsible people.
We are not trying to scare investors away, nor are we greedy.
We only want a fair distribution of benefits.
Some time ago, Sir Julius Chan made an audit of benefits derived from mining and he was astounded to find that under the current legislation, landowners get only a mere 2.25%.
This is ridiculous.
What we want to see is a more equitable distribution, taking into account the rest of PNG (through the National Government), provincial governments, LLGs, developers and landowners.
What I suggest is the following – State 20% at cost; developers 40% at cost; provincial government 10% at cost; LLGs within impact areas 5% at cost; resource owners 20% free carried interest; and future generation trust fund 5% free carried interest.
North Fly MP Boka Kondra said the proposal was the result of massive destruction to the Fly River system with hardly any tangible benefits to the people. Their food source, land, ecosystems,etc, have been destroyed.
You might sing differently if your land is affected.



Yandera Asples