He told the Mining and Petroleum conference yesterday that the six new policies were developed to address issues in the mining sector.
They include the underlying mining policy, offshore mining policy, mining involuntary resettlement policy, geothermal resource policy, mining project rehabilitation and closure policy, and the sustainable mining development policy. “This review has effectively addressed the issue of transfer of mineral ownership,” Chan said.
“With these changes and the restructure, we can enable Papua New Guineans to maximise benefits derived from the exploitation of our mineral wealth and ensure that the livelihood of our people is given prominence right throughout the life of the mine and thereafter.”
He said at the closure phase, it was mandatory that the implementation of a closure plan must start five years or less prior to the date of closure and decommissioning.
“Closure obligation must fully comply with the developer and in line with the mine rehabilitation and closure policy,” he said.