Monday, July 16, 2018

Morobe government eyeing 20pc stake in Wafi-Golpu mine

THE Morobe government wants an equity of no less than 20 per cent in the Wafi-Golpu Mine.
Governor Ginson Saonu made this known last Wednesday during a two-day stakeholder forum in Lae regarding development of the proposed mine.
He said the Morobe government wanted to be an active partner in mine development.
“Apart from the legislated 2 per cent royalties, my government and people need better and attractive incentives in the form of equity,” Saonu said.
“We have made our position clear and have requested the National Government to acquire extra equity on top of the 5 per cent free carry.
“We are prepared to assist the Government to acquire this equity ourselves. We expect no less than 20 per cent equity in the project.
“We want to be a major partner with the Wafi-Golpu Joint Venture in the construction and operation phase of the project.” Saonu also asked the Government to uplift the curfew on the tax credit scheme (TCS) programme so that money could be used to fund infrastructure projects in mine-impacted communities.
“In this case, we request that over 50 per cent of the TCS be used in Morobe alone and a further 20 per cent to be used in the SML areas of landowners and impacted communities,” he said.
He said the Morobe government remained committed to see this project get off the ground during this term of government.
Saonu thanked the project area and pipeline landowners for giving their land for the project. The National

Next :

PNG MP Basil wants Hidden Valley Mine not to repeat past mistakes

 

SHARE

0 comments:

Please write your comments below in english.The webmaster has the right to reject your comments.