T is always difficult to draw one’s own personal and business interest over the interest of the country and its landowners when the contested stakes are high.
There are views for and against the Government decision recently not to extend the Porgera Gold Mining Lease after 30 years of operations.
By then, the return on capital investment would have taken place within the first 10 years of mining operations while the last 20 years was all net capital returns to the 95 per cent foreign shareholders at the nose of landowners and PNG government.
Is it not the constitutional duty of the Government to take a decision in the interest of the country to negotiate its new higher stake in the existing venture up to over 51 per cent or takeover the operations by acquiring the assets at fair market value in exchange for the taxes and environment damage mitigation?
Whatever, the mine has to operate in the transition period.
No one should sabotage the operations as same level of benefits would flow except that ownership state will have high local content this time around.