PM: No changes to law

PRIME Minister Peter O’Neill has assured the mining sector that the Government is not considering changes to the Mining Act in this term of Parliament.
He told the Mining and Petroleum Conference in Sydney, Australia on Monday that any changes to the legislation in support of the resources sector must be introduced carefully and in consultation with all stakeholders.
“Our aim is to achieve a fair deal for our people, both landowners directly impacted, and also the country as a whole. And this has been the driving force behind the proposed changes,” he said.
“I know that many have worked tirelessly to develop the draft Act, both from Government and from industry.
“I thank you for engaging with each other so honestly and openly.
“I want to state categorically that there will be no changes to the Mining Act prior to the 2017 national election.
“It is only right that the new Parliament be granted the mandate to carry forward any changes to the existing mining legislation. Again I stress that industry will be fully consulted.
“Any change to the Act will ensure there are equal benefits for landowners and provincial governments.”
O’Neill said the Government’s recent decision to give 33 per cent of direct shares in the Ok Tedi mine to landowners and the provincial government, and the 17.4 per cent Bougainville Copper Limited shares to landowners, was a clear indicator “of our desire to share benefits through this policy”.