Mining conference

Treasurer, Patrick Pruaitch when delivering his speech today at the 14^th Mining conference in Sydney, Australia echoed these sentiments.

He said as interest rates in advanced countries normalised, global economic conditions will also improve and become more predictable.

He added that the 2017 budgets are highly conservative and do not take into account PNG’s increased economic resilience as well as the remaining potential for major new resource projects.

Treasurer Patrick Pruaitch said the construction might start in 2018 or 2019.

Speaking at the 14^th Mining Conference in Sydney this morning, Pruaitch said: “With the benefit of hindsight, I assure you we would have done things differently if we had known commodity prices were primed to fall. Instead we went for expansionary budgets.”

He said PNG’s total borrowings would have been far less in 2014 and 2015 when the government accounted for almost half the total debt raised during this five-year term.

In an exclusive interview with Loop PNG, Juffa said we have facilities in the country that can facilitate the conference rather than Sydney.

“We now have facilities to host such conferences and the government must make a conservative effort to make use of the facilities in the country.”

He said such conferences will only make sense if it is being hosted in the country as the resources and landowners are in the country and can attend.

Prime Minister Peter O’Neill when giving his speech at the opening of the 14th Mining conference today in Sydney, Australia said the Government is not just developing the cities with improved infrastructure, but it is right across the country.

“For decades our ports, roads, and public buildings had not been maintained and had been left to ruin.
“We have restored assets where we could and built new infrastructure where it is was needed.
Now we are seeing greater productivity in Government, and greater opportunity for business and our people.

Opposition Leader Don Polye made this call when senior government leaders and mining and industries gathered at the 14th Mining conference in Sydney.

He called on the mining and petroleum companies, the government and other stakeholders to consider two agendas at the three-day PNG Mining and Petroleum Investment conference in Australia.

The three day conference offers a wide range of prestigious sponsorship opportunities and the large trade exhibition presents an exciting and exclusive opportunity to showcase your company to a very large audience.

More than 900 delegates and exhibitors from resource and service companies, government organisations, landowner groups, international investors and financiers, and aid organisations will be at the conference.