New credit scheme to provide services

 NEWCREST Mining Ltd is taking a more community-oriented approach in its contribution to development in the New Ireland, an executive says.

The company operates the Lihir gold mine in New Ireland. 

Company country manager Peter Aitsi told members of the New Guinea Islands Certified Practicing Accountants branch, in Kokopo, that although the company had reduced the number of its employees because of a drop in gold share prices, it was using the tax credit scheme to provide services in New Ireland.

Aitsi said it had been difficult to build a relationship with the New Ireland provincial government but he foresaw a good partnership emerging. 

The company has set up an office in Kavieng to work with the provincial government in identifying community-based programmes that it can support.

He said the tax credit scheme facility allowed private sector expertise and capacity to fill in gaps lacking in provincial government and deliver infrastructure projects quicker. 

And through contracting and project management arrangement, the company is assisting the government to implement the infrastructural projects.

Among the largest gold producers in the world, Newcrest has a joint partnership with the Morobe Mining Venture, in the Hidden Valley mine, in Morobe, and has an exploration underway in Manus.