The Mineral Resources Authority (MRA) has responded favourably to plans by the National Governments to double current revenue levels from mineral receipts by 2030.
The average mineral revenue between 2013 and 2016 is about K8.15 billion.
In the National Government’s Medium Development Plan of 2010, the mining industry was challenged to double the country’s mineral receipts by 2030.
In an effort to help achieve that, the Mineral Resources Authority’s Geological Survey Division initiated several geological surveys programs across the country. The objectives of those programs are to update existing mineral occurrence data and obtain new data sets to boost mineral exploration.
These data sets are important assets to alluring potential mineral investors into the country.
Under normal circumstances, geological mapping for mineral occurrence is done by exploration companies.
However, the government has decided to do this on its own and have it ready for potential investors as an incentive.
MRA’s Executive Manager for Geological Survey Division, Nathan Mosusu, said during his presentation at the recent Sydney Mining and Petroleum Conference that MRA had so far surveyed and mapped out areas, including Wau/Biaru in Morobe Province, Yule, Wasa and Kubuna in the Central Province, and Kokoda in Northern Province.
Mosusu said the MRA carried out an airborne geophysical survey along the western part of the country, which is the area between Ok Tedi and Frieda mines, and that data had been obtained. Other areas surveyed include Kainantu and the NGI region. Complementing those two programs is the national geochemical sampling program aimed at defining the mineral elements distribution across the country.
This will also help identify locations of new mineral resources across the country.
“With the growing population and demand for services throughout the country, it is important that the government raises sufficient revenue to support and meet this demand,” the MRA said in a statement.
“And with the track record of the contribution from the mining sector into the national purse, the government has realised that it had to depend on the sector to plan for the future.”
(Picture: Pacific Mining Watch)