Specialist says Acts critical to talks

THE absence of legislation and regulations in the resource sector, especially mining and petroleum, can create issues among concerned stakeholders, according to the World Bank.
Senior mining specialist Dr Wilfred Lus said legislation like the Mining Act and Oil and Gas Act were critical to progress discussions on major resource projects.
“With regards to the resource sector, there are still outstanding issues with the Mining Act,” he said.
“The Government has to deliver an Act to the stakeholders.”
I think the Oil and Gas Act also.’
Lus told the media during a World Bank event on Friday.
He made the comments amidst talks on amendments to be done to the Oil and Gas Act (1998) and the long awaited Revised Mining Act.
“I think the work on the Mining Act and the Oil and Gas Act and also on how the benefits are being shared, these things are critical in order to cross off a lot of these resource projects.
“In the absence of these legislations, the Government has been trying to negotiate and get into the agreements, but without the laws, this can create a lot of issues between all the stakeholders.”