Freida mine to generate billions
Gorethy Kenneth | Post Courier | June 28, 2016
ONE of Papua New Guinea’s major mining projects will generate more than PGK39 billion and increase real income by PGK11.8 billion once it starts.
The Frieda River Project in East Sepik and West Sepik Provinces will generate PNG’s real GDP by a cumulative total to the year 2040 of PGK39 billion and increase real income by PGK11.8 billion.
For the West and East Sepik Provinces, the Project would increase real GDP by a cumulative total of PGK36 billion and increase real income by PGK5.2 billion.
Everyone from the World Bank and the United Nations to the PNG government acknowledge previous large-scale mines in PNG have not delivered better lives for ordinary people and have instead left terrible environmental and social problems. The mines were approved on the basis of the same ‘billion $ bullshits’ we are now hearing once again…
Last week, the Government officially announced Frieda River Limited (a subsidiary of PanAust Limited) and Highlands Frieda Limited (a subsidiary of Highlands Pacific Limited), the tenement holders for the Frieda River Project in East Sepik and West Sepik Provinces, officially registered a Special Mining Lease (SML) application, along with 9 supporting tenement applications, with the MRA, Papua New Guinea’s regulatory authority for mining last week.
Can someone please let Gorethy and the Post Courier know that PanAust is in turn owned by the Chinese State through Guandong Rising Asset Management – just like MCC and its faltering Ramu nickel mine in Madang
PanAust has devoted over 235,000 man-hours and invested US$65 million to advance the Project. This has been achieved with no lost time injuries, an excellent outcome for a Project that is located in a remote area with limited access.
Mineral Resource Authority boss Philip Samar in a statement said last Friday that the commencement of the formal process for the Frieda River Project to become an operational mine of world standard.
How can Philip Samar know the mine will be of “world standard” when they haven’t yet revealed how they will manage the toxic tailings and have not submitted any environmental plan?
“Frieda River Limited (a subsidiary of PanAust Limited) and Highlands Frieda Limited (a subsidiary of Highlands Pacific Limited), the tenement holders for the Frieda River Project in East Sepik and West Sepik Provinces, have today registered a Special Mining Lease (SML) application, along with 9 supporting tenement applications, with the MRA, Papua New Guinea’s regulatory authority for mining”.
“The project will be [will be? oops, sounds like Samar has already determined the outcome of the application?] the first major, large-scale resource project in the Sepik provinces of Sandaun and East Sepik, a least-developed area of Papua New Guinea. Registration of the SML is a significant milestone for the companies involved and for Papua New Guinea, coming at a time of cyclical downturn in the mining sector. The lease will be known as tenement SML 9. This application provides confidence for the future of the mining industry, which has long been the mainstay of PNG’s economy,” he said.
“Once in development, the project will increase national gross domestic product and export earnings and provide a long term boost to government revenues. It will also generate benefit streams to landowners and host communities, as well as create new employment and business development opportunities during project construction and operation”.
Yes Philip, we have heard the same bullshits before, but how will Frieda be any different from Ok Tedi, Porgera, Panguna and all the rest….?