President of the PNG Chamber of Mines and Petroleum, Gerea Aopi, said this during the recent 2017 Mining and Petroleum Conference in Port Moresby.
Aopi said there were currently very positive signs for the mineral, petroleum and LNG sector.
However, further investment in the sectors is under threat due to landowners’ discontent.
“It will be remiss of me to not echo the concerns around landowner commitments. The wide media coverage can adversely impact PNG’s aspirations for the recognition as an attractive investment destination.
“PNG’s resource sector development framework is underpinned by the Government’s role in managing landowner aspirations and expectations around projects. It is therefore important that these efforts complement resource development activities.”
Aopi said currently, mineral and petroleum prices are recovering, signalling positive signs for PNG.
He said the country’s current world class mines have regained competitiveness and have performed satisfactorily.
Furthermore, a similar recovery is occurring in the petroleum sector with similar trends witnessed for LNG.