PNG Chamber of Mines & Petroleum

Chamber questions govt decision for mining, petroleum

The chamber said this would be in place of the Royalty/Tax Concessionary System that has operated successfully since independence.

“The Chamber remains cognisant of the government’s prerogative to review and reform our resource laws and has never been opposed to it,” it said in a statement.

“The Chamber also works to ensure that there is sufficient protection to both existing investment, and that there is accountability and governance to promote a fair investment climate to see continued, strong future investment in the country’s resources.

PNG poised to become copper giant

This follows the lodgment of two Special Mining Leases for the Frieda and Wafi-Golpu projects

If approved, both projects will join the Ok Tedi Copper-Gold project.

PNGCMP Executive Director, Greg Anderson, revealed this in the Mining & Petroleum Review (Vol. 4, Issue 3)

“Each project is very large in global terms. During their project lives, they will likely go through two or three industry downturns and as many cyclical upturns,” states Anderson.