Latest mining transparency report more comprehensive: Official

The National Business

THE latest PNG Extractive Industries Transparency Initiative (PNGEITI) report is more comprehensive than previous ones, says the head of its national secretariat Lucas Alkan.
Alkan said it reflected data gaps and recommendations in previous reports to promote transparency and accountability in the mining and petroleum sectors.
The PNGEITI Multi Stakeholder Group (MSG) announced the release of the report on Friday.
“Despite the onset of the Covid-19 pandemic in late 2019 and disruptions to activities in 2020, the MSG is satisfied that the 2019 EITI Report has significantly improved in addressing information and data gaps identified in previous reports, including the corrective measures recommended from PNG’s first validation assessment against the 2016 report,” Alkan said.
Senior vice-president of the PNG Chamber of Mines and Petroleum Richard Kassman said the chamber welcomed the participation of the extractive industry operating projects in furnishing information required to compile the 2019 report.
“We are pleased that the current report provides a more comprehensive information from industry and government of the revenue derived from the resource projects and also noting the enormous voluntary contribution in community infrastructure projects and flow-on socio-economic benefits such as community health and education programmes as well as spin-off business opportunities,” he said.
Highlights include:

  • MORE than K6 billion of contributions from the extractive industry;
  • CONTRIBUTED 28 per cent of Government revenue;
  • RESPONSIBLE for 28 per cent of PNG’s GDP – this did not include the multiplier effect from contributions by all the contractors and subcontractors who support our industry; and,
  • CONTRIBUTED nearly K450 million in cash and kind social expenditures, mostly voluntary, for infrastructure projects, community health and education programmes, as well as spin-off business opportunities supporting SMEs (small-medium enterprises).

“I want to assure the public that this is a work in progress that the industry, together with the regulators together and reporting entities of government remain committed to minimise this.”