NEC to discuss resource ownership: O’Neill

The National Executive Council (NEC) will meet next week to discuss ownership of mining and petroleum projects shareholding in the country, says Prime Minister Peter O’Neill.

Last month, Rio Tinto Group gave away its 17.4 percent stake of the Bougainville Copper Ltd to the Papua New Guinea Government, which caused disagreements with the Autonomous Bougainville Government.

Also, the PNG Government owns 33.33 percent share in the Ok Tedi mine project in Western Province.  

“We will be making a decision next week. I will be making a major statement after that (proposal) has been deliberated by the NEC,” O’Neill said.  

“But it will not only relate to Bougainville shares but also to LNG shares and Western Province Ok Tedi shares.

“Let me say it again: This government wants to empower landowners to have rightful ownership of their resources.

“I will deliver to them before I go to the elections, (and) this is my promise.”

Charles Yapumi