Revised mining law to clarify State’s participation: Chan

Business
Source:
The National,Tuesday July 5th, 2016

THE revised Mining Act will give a clear indication on how the State can participate in mining projects in the country, Mining Minister Byron Chan says.
Chan said the Government had been undertaking the review of Mining Act since 1992. He hopes to have the Mining Act tabled in Parliament in the next sitting.
“The Government is streamlining all institutions, the way of doing business in mining so that we can maximise the benefits derived from the exploitation of our mineral resources,” he said.
“Given legislative changes, the revised Mining Act and Kumul Minerals Holdings Limited are evident of that change taking place.”
He made the statement during an event last Friday to have Petromin PNG Holdings Limited change its name to Kumul Minerals Holdings Limited. “What is of direct relevance to Kumul Minerals Holdings is the equity in the revised legislation,” he said.