Mining Minister

This coincides with the signing of the Fiscal Stability Agreement (FSA) yesterday.

In a statement, Minister Kua said the application for extension was received by the Department of Petroleum from the PRL 15 Joint Venture Partners on February 3^rd and technical reviews followed until February 8^th when the Petroleum Advisory Board (PAB) recommended to the Minister to grant the extension.

Minister Kua said the PRL 15 license has good standing in the last two terms (10 years) and the JV Partners have met work commitments under the license conditions.

Minister Kua said a National Court injunction taken out by the Purari Development Association is preventing Papua LNG Project lead developer Total, from presenting him the Social Mapping and Landowner Identification (SMLI) Report.

Kua said with the signinig of the Fiscal Stability Agreement, they can now focus on addressing the court injunction, and begin working with landowners from both Gulf Province, which hosts Papua LNG, and Central Province.

Mining Minister, Johnston Tuke, and acting Managing Director of the Mineral Resources Authority (MRA), Nathan Mosusu, said this during royalty payment for the project on Friday, 6^th July.

The royalties totaling K25, 537, 210.13 were paid on behalf of the National Government by Tuke, the landowners and the Madang Provincial Government.

Of the total amount, K17,620,674.99 was paid to landowners and K7,916,535.14 to the Madang Provincial Government.

It was during the payment that Minister Tuke called on them to use their money wisely.

Nautilus CEO Mike Johnston said this during a meeting with Mining Minister, Johnston Tuke, and key state agencies to present a brief and update on the project.

Johnston said the company will deliver the Solwara 1 Project and the recent announcement of the departure of key figures and financing delays was no issue.

Despite this, Nautilus says the company will deliver the project once the seafloor production system is ready.

Johnston presented detailed insight into the project, emphasising that the company has made various tests to verify potential problems.

Tuke has so far visited two operating mines and one anticipated mine.

The Minister said the visits are to have an appreciation of what is happening on the ground in the various mine and project sites.

So far he has visited OK Tedi Mine in Western Province as well as the proposed Frieda Mine Project in West Sepik.

His first visit was to the Kainantu Gold Mine, in his electorate, due to discontent by landowners which suspended operations.

Minister Tuke helped address the issue which has now stabilised.

Tuke said the revised Mining Act, which contains six new laws, will immediately be brought before the National Executive Council for endorsement.

The Minister announced this during a Ministry handover-takeover ceremony in Port Moresby.

He takes on the role of Mining Minister from former Namatanai MP, Byron Chan.

In his maiden speech as Mining Minister, Tuke said he will ensure the new law is passed by the end of the year. This also includes the Mineral Resources Authority Act (2005) review.

He announced on Tuesday that the alluvial policy was one of the main policy initiatives for the industry as part of his first 100 days in office.

Tuke said there is a huge potential for the industry and proper frameworks must be established to manage it well.

“I have directed the Department of Mineral Policy and Geohazards Management (DMPGM) to work with the Mineral Resource Authority, to develop a policy for the alluvial mining sector in PNG.

Chan made the assurance in Parliament on Friday when asked by Usino-Bundi MP, Anton Yagama.

Yagama said since the project began, tons in mineral exports have left their shores at Basamuk, however, to this date there has been no royalty.

He also queried when the outstanding K10 million would be paid to the landowners.

Chan said the Mineral Resources Authority (MRA) and project developers, Metallurgical Company of China (MCC), had recently agreed to pay landowners royalties.