Papua New Guinea PRIME Minister James Marape has told potential investors in the extractive industry that Papua New Guinea remains an investment destination.
He told the 2021 PNG Mining and Petroleum Conference and Exhibition yesterday that the country had incentives to provide the industry.
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| PNG is a good Destination for Investors in the extractive Industry : PM Marape |
“We are going for partnerships with all resource developers in the country,” Marape said.
“That is why in the oil and gas and mining space, you have Kumul Petroleum and Kumul Mining as partners in the extractive industry.
“When you have Kumul Petroleum and Kumul Mining as your partner, rest assured that your goal post is fixed,” he said.
“They are your equal partners in this business and give you added security you need to ensure that government is at your fingertips not to attend to just business issues but more importantly the social issues that you work and operate in PNG.
“To give comfort to our investors, especially, junior ones, we are a democracy, if there is a dispute between Government or any agencies of government or landowners and investors, our judiciary and courts have been a fair place for all investors and people who have residency in PNG.
“Our five low hanging fruits in the oil and gas and mining space are Papua (LNG), P’nyang, Pasca has been now moved into our state negotiating team level and for the mining space, Porgera and Wafi-Golpu.
“When these projects come on board, it will be evident for PNG that we do not change goal posts in between, we honour commitments in those who have secure legally binding licences whether at exploration or development stage.
“Governments come in, governments go out, but the honouring of those agreements will stand the test of time.”
Marape assured investors and businesses that his government’s intention to establish a gold refinery and mint was only in its early stages of development and that there was no rush to go into it.
The National / Pacific Mining Watch
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