Mining Act

Prime Minister James Marape says this assurance has been made to stakeholders in the mining and petroleum sectors.

The Prime Ministers revealed this when announcing the non-renewal of the Porgera Gold Mine Special Mining Lease.

Marape said the announcement of the non-renewal of the SML should not scare investors and stakeholders in the mining and petroleum sectors.  

Prime Minister, James Marape, says resource laws will be amended over the next two years to build a solid foundation for the economy.

Prime Minister Marape said some of the policy fundamentals will be put in place, and legislative amendments and laws passed over the next two years before the 2022 National Elections.

Marape said amendments to resource laws will be brought before Parliament.

Current reviews include the Oil & Gast Act and the Mining Act.

In a statement announcing the new MRA Board Chairmanship of MRA, Moaina said the proposed amendments to the Mining Act and MRA Act remain a concern for him.

This is because the Government did not consult the MRA Board regarding the amendments.

He has called for the government to re-engage on the fundamentals of these proposed legislation to ensure the growth and investment of the exploration and mining sector in PNG.

O’Neill announced this during the PNG Chamber of Mining and Petroleum Conference in Sydney on Monday.

He said any new changes will be left to the new parliament.

“I want to state categorically that there will be no changes to the Mining Act prior to the 2017 National Election.

“It is only right that the new Parliament be granted the mandate to carry forward any changes to the existing Mining legislation,” he said.

Anderson said in a statement that the sector have also created thousands of jobs, often in remote locations that require the creation of significant infrastructure and provision of better education and health services.

He made this comments after the government proposes to make changes to the Mining Act.

Anderson said he is hoping that the Government will carefully consider the implications of these amendments for future economic growth and prosperity.

Executive Director of the PNG Chamber of Mines and Petroleum, Greg Anderson said stable government policies and a favourable investment climate are critical for future growth within PNG's resources sector.

He said the sharp drops in mineral and petroleum prices has adversely impacted PNG's current economic outlook but these sectors will return to their traditional role as strong contributors to PNG's economic prosperity once commodity prices increase again.