Papua New Guinea has some of the best geology in the world with mineral potential nationwide, says an official.
The vice-president of external affairs and sustainable development at K92 Mining Ltd, Philip Samar, said this during a conference in Port Moresby this week.
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| Papua New Guinea has some of the best geology, says official |
He referenced this to a map provided by the Mineral Resources Authority which showed almost 90 per cent of the country covered with mineral resource potential from 2011 to 2012.
“Even in areas such as Western where we thought we didn’t have minerals at the time, they (exploration companies) went and covered the whole landmass, even offshore in the New Britain and Milne Bay waters,” Samar said.
“But that’s 10 years ago.
“Today, we have lost people investing in the ground and on the ground to do business.”
He said while the decline over the last 10 years in exploration was due to some factors, it could not continue for another two to five years.
Samar said the sector needed to rise up and do something.
“We have to start to change,” he said.
“We need to start bringing in people with money on to the ground who can create and add to the economy of the country.
“For me, I think it is a need for us stakeholders to revisit our previous geoscience partnerships.”
Meanwhile, Samar said the conference was a good platform which had gathered researchers, academia and stakeholders.
The National / Pacific Mining Watch
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