PNG government ‘happy’ with 15 per cent share in Nautilus deep sea mining project

Listen to Baby Chan gleefully anticipating his junket trip to London… while displaying his total ignorance of the basic facts about the proposed Solwara 1 mine!

ABC Radio Australia

PNG’s Mining Minister, Byron Chan, has defended the government’s decision to buy a 15 per cent share in the controversial Solwara 1 deep sea mining project in the Bismark Sea.

The deal with Canadian mining company Nautilus, is worth around $US120 million dollars and was paid for by a Bank of South Pacific loan.

Mr Chan says the government could have bought bigger share if it already some of the proceeds from the ExxonMobil LNG project.

The government’s decision to participate in the controversial experimental seafloor mine’s been condemned by many activist groups.

But Mr Chan says they’re pleased to be moving forward, after the two parties resolved long standing issues that had had the potential to completely stop the project from going ahead.

Presenter: Pius Bonjui

Speaker: Byron Chan, PNG Mining minister

Listen to the audio 

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Filed under Environmental impact, Financial returns, Human rights, Papua New Guinea

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