Somare: Investors must be scrutinised

Business, Normal

The National, Thursday February 13th, 2014

 NEGOTIATORS must start questioning the intentions of investors when negotiating on the exploitation of Papua New Guinea resources, East Sepik Governor, Grand Chief Sir Michael Somare told members of parliament. 

 “When working on releasing licences to investors, or discussing matters on to mining-related issues, caution should be given as most of our resources are now being exploited without our people experiencing the full benefits from them,” Sir Michael said.
He said while being a party to the negotiations that took place years back on the development of Lihir Gold Mine, he was not really aware of the changes and events that were going to take place as a result of his part in the negotiations.
The New Ireland government was now claiming that the province was not seeing much of the development being carried out by a mining company.