Papua New Guinea PRIME Minister James Marape says Kainantu gold mine in Eastern Highlands and two others will be a priority for his Government in the new year.
He said this would be to ensure landowners and provincial governments within the project impacted provinces received maximum benefits.
Marape was responding to a question by Eastern Highlands Governor Peter Numu on the status of the review of the mine’s project agreement.
“I would like to thank the prime minister for allowing us to review the Kainantu mine,” Numu said.
“The review was carried out, concerned parties were involved.
“Issues were sorted out, especially to do with benefit sharing.”
He said his understanding was that Kainantu mine, though a new operation, had paid about K100 million in taxes from its exploration and production activities which were world class.
He said stakeholders, which included landowners and the provincial government, had been waiting since last year for the review to be endorsed by the National Executive Council (NEC).
Numu asked Marape when the compliance team and State Solicitor complete the process before it went to the NEC and then to the eventual signing.
“At the moment, we are missing out big time,” he said.
“Under the review, there is a free five per cent equity share apart from royalties.
“All businesses will also be given to the locals.”
The National / Pacific Mining Watch
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