As a proud Platinum Sponsor of APEC, Newcrest is pleased to be participating in Mining Week, which brings APEC mining ministers and senior officials to Port Moresby to discuss how to maximise the social and economic benefits flowing from mining operations around the world.At the APEC Mining Policy Private-Public Dialogue today, Newcrest Executive General Manager, Public Affairs and Social Performance Ian Kemish joined a panel on ‘cultivating inclusive growth in the mining industry’. His presentation outlined how Newcrest’s operations deliver real social and economic benefits for local communities and host governments, drawing on a wide range of examples from Newcrest’s programs in Australia, Indonesia, PNG, Fiji, Cote d’Ivoire and Ecuador.
“PNG is a great example of how Newcrest’s operations deliver social and economic benefits to our host communities” said Kemish. “Our mine at Lihir employs and trains around 5,000 Papua New Guinean employees and contractors, plus we help local businesses and suppliers to grow and thrive. Across our communities, we invest in road, education and health infrastructure; scholarships and training; women’s empowerment programs; and community livelihoods.”
Several of the speakers at the Dialogue noted that maximising social and economic growth from mining projects relies on having the right fiscal, regulatory and legislative settings to attract global investors. This includes legislation which provides a fair distribution of benefits between the developer, the state and communities; security of tenure to its investors and stability of investment terms; and necessary protections for the environment, employees and communities throughout the project life cycle.
On Thursday, Newcrest will participate in an industry dialogue with APEC Ministers on the themes of attracting investment in mining, and innovation-driven growth.
APEC Mining Week traditionally includes a visit to an operating site in the host country, and on Friday the APEC delegates will travel to Newcrest’s Lihir mine in New Ireland.
“Newcrest is honoured that Lihir was selected to showcase mining in PNG. The APEC delegates will witness the world-class operations PNG can produce, and also the real community benefits which have flowed from the mining industry” said Kemish
Earlier this year, Newcrest became the first company to sign up as a Platinum Sponsor for the APEC CEO Summit, signaling its commitment to supporting PNG’s milestone year.
With mines in three APEC economies and exploration interests in others, Newcrest also supports APEC’s objectives of boosting regional economic growth and prosperity by fostering more open trade and business links across the region.