MRA PROMOTES PNG MINE’S IN SOUTH AFRICA
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The Mineral Resources Authority says there is growing world interest in PNG’s mineral sector.
Acting Executive Manager in the Geological Survey Division Nathan Mosusu attributed this to the conducive mining fiscal regime in PNG.
Mr. Mosusu attended the Indaba Mining Conference held last week in Cape Town South Africa, attracted business companies from all over the world.
Nathan Mosusu represented the PNG mining sector.
He told the conference that PNG has a strong and stable regulatory and policy mechanisms and processes to facilitate future potential investments.
He gave an overview of South Africa’s mining giant Harmony Gold who is in a joint venture arrangement with Australia’s Newcrest Mining operating in the country. The two are operating the Morobe Mining Joint Venture in the Hidden Valley, Morobe Province.
The Mineral Resources Authority demonstrated PNG’s capabilities in facilitating mining investments in the country in its booth. Featured were promotional materials like brochures, geological data and information on the regulatory and policy requirements were distributed.
There were a lot of enquiries relating to PNG’s geology, mining policies and regulations, and also the political situation in the country.
The Mineral Resource Authority’s delegation encouraged more South African companies to invest in the country and to show that PNG has the experience and ability to support them if they invested.
They said investing in the PNG market is an advantage because of its favorable mining fiscal regimes such as low income tax on income and dividend.