PNG to gain better: Marape
THE country stands to gain a lot from the skyrocketing global gold price if it reopens the Porgera mine, says Prime Minister James Marape.
He said the current gold price was more than US$2,000 (K7,100) an ounce and Porgera could produce 600,000 ounces in the next 20 years (earning around K4.26 billion).
Yangoru-Saussia MP Richard Maru questioned the Government in Parliament on the state of the economy and recent project decisions.
He questioned the Government’s decision to review the Papua PNG deal and the closure of the Porgera gold mine due to the non-renewal of Barrick Niugini Ltd’s special mining lease which had resulted in the loss of investment and jobs.
Marape said the Government’s policy was to get maximum gains from its resource projects.
4 comments
State of the economy Mr MARU????
in debt by 30 billion kina tying us to a repayment schedule for the next 50 years….Struggling in finding enough money every two weeks to pay public servants!!
COOPERATE AS MUCH AS YOU CAN WITH THE GOVERNMENT TO SALVAGE THIS COUNTRY FROM COLLAPSING___USE YOUR HEAD!!
How about considering getting rid of the DSIP PSIP nonsense! We could immediately save more than 1 billion annually OR ceasing school fee assistance which only leads to plenty of half-baked educated population on the streets every year OR consider eliminating the local and provincial government systems….this opened up avenues for money laundering and corruption. Planti gavman tumas.
We are already suffering from bad decisions by Politicians and people in the top basket who make decisions for other reasons.
The so-called opposition should be providing the support the government needs to drive the economy forward!!! Why do they have to stand in the way for fair share of the people??? I am so pissed off with these dummies crying foul at every opportunity they get.
Get real, if the people you represent are the real reasons for your being there.
Why Papua New Guinea is so rich with natural resources but so poor in development because we get ripped off by so called project agreements. We are given so little and project developers get so much. Thank you, Prime Minister James Marape for standing up for your people. It is about time to get a fair share from our resources for our development needs.
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