LO's first priority in K92 spin-offs

Eastern Highlands Governor, Peter Numu, has urged the Government to ensure first preference business spin-off benefits from the K92 Mine are given to landowners as stated in the Memorandum of Agreement (MoA).

Numu said this during the MoA Review in Kokopo, East New Britain this week.

The Governor said this expressing concern over potential external business interests taking over.

During the K92 Mine MoA Review Governor Numu urged the State to ensure that the commitments must be enforced as stated in the MoA, and that opportunities are given in order of preference as per the commitment.

Under provision 12 of the MoA, the National Government through the Department of Commerce/Trade & Industry, has committed to ensuring that K92 Mining Limited, submits a business development plan, and subsequently making sure that business spin off opportunities are given, in order of preference depending on availability of skills and capacity, first to businesses owned by landowners.

Secondly to businesses owned by the Kainantu Rural LLG, thirdly to businesses owned by the province and fourth, to business owned by Papua New Guineans.

Numu said for far too long his people had not seen tangible benefits out of the mine.

The Governor also highlighted the need for the State to monitor and evaluate the management of spin-off businesses from the mining project as business opportunities may be taken up by foreign entities.

Meanwhile Numu says the Provincial Government was ready to go into business and benefit from the K92 mining project.

Commerce Department’s Acting First Assistant Secretary for the Commerce Division, Gabriel Paita, said the department would meet with the company and landowners to review the existing landowner company structure and its plans going forward.

Mr Paita said this is to get a clear picture of what the landowners plans are, and ideally align their plans with that of the company.



Press Release