PNG Extractive Industries Transparency Initiative

Govt not receiving resource benefits: Study

It has recommended that the PNG Government broaden its economic base in order to increase its bargaining power in current and future extractive projects.

The research study titled: Does the PNG government get its fair share from the resource sector? was presented at a public seminar at the Institute of National Affairs in July to an audience representing Government, Industry and Civil Society stakeholders.

It focused on the Government’s ability to increase its bargaining power in its current and future planned resource projects.

Outgoing Chamber director commended

In a statement, the PNG Extractive Industries Transparency Initiative National Secretariat said: “Greg Anderson, who has been at the helm of the industry peak body since 1989, said he was confident the next generation of resource projects will distribute prosperity to a much larger proportion of Papua New Guinea.

“He noted that for the first time in PNG history, exports earned from the industry just topped over K20 billion in 2016 out of the total export worth K24.8 billion.”

​Policy implementation in sector a challenge: Report

The PNG Extractive Industries Transparency Initiative Report 2014 says: “While the Government sets strong policy and has a relatively robust legislative regime and fiscal control, implementation is challenging due to weak capacity and a lack of accountability, particularly at local levels. The associated lack of transparency also leaves the way open for corruption.

Over 80pc mining activities cover PNG

This is expected to further enhance and strengthen Papua New Guinea’s position as one of the top twenty gold and copper producing countries in the world.

“The country is rich in minerals. It ranks in the top 20 world gold and copper producers and also produces silver, nickel and cobalt,” the report said.

“Mining in PNG dates back to 1888, with the modern mining industry developing in the mid-1960s.

“During the reporting period, eight mines were operating in Papua New Guinea, distributed over a number of provinces,”

Extractive companies to disclose ownership details

This has been made possible by the PNG Extractive Industries Transparency Initiative’s (PNGEITI) Beneficial Ownership Roadmap. It provides direction and outlines specific actions on how the country will report on Beneficial Ownership by 2020.

The Roadmap is consistent with the EITI Standard.

This was the message from the PNGEITI Head of National Secretariat, Lucas Alkan.