Chinese eye our mineral assets

Ariel view of Port Moresby

Freddy Mou | PNG Loop

A Chinese delegation which visited the country last week is interested in investment opportunities in nickel, cobalt and iron sands projects in PNG.

The delegation from the Department of Commerce Industry and International Relations of Fuzhou City in the Fujian Province of China, was here to follow up on discussions on investment opportunities they had with the Mineral Resources Authority (MRA) recently in Fuzhou.

MRA managing director Philip Samar told the delegation that the MRA would be happy to facilitate any negotiation between them and the exploration companies concerned.

The delegation also enquired about business opportunities in other sectors of PNG’s economy such as fisheries.

Mr Samar said with regards to the investment opportunities in the mining sector, a number of small to medium size mining projects needed financial backing and these were some of the opportunities they could consider investing in.

The MRA met with the delegation during the 7th International Nickel Summit in Fuzhou recently, where the delegation comprising the provincial commerce department, the China Development Bank and other business executives, invited the MRA to make presentations on the mining industry of PNG, with the view to identify potential investment opportunities in the sector.

According to MRA, the delegation’s visit was a scouting trip to assess investment opportunities in PNG, and they are happy to return for more constructive discussions with key investment stakeholders.

The leader of the delegation, vice director general of the Department of Commerce in Fuzhow, Mr Chen An Sheng said he will come back with industry partners to have meetings with PNG government and company officials this year.

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Filed under Exploration, Financial returns, Mine construction, Papua New Guinea

One response to “Chinese eye our mineral assets

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