The Deputy PM needs to get his story straight. Last month he warned against rushing new mining projects saying ‘We want economic integration, but not economic exploitation’. ‘Papua New Guinea must make sure that integration takes place at a pace that allows local institutions, industry and local businesses to develop.’ If not, Abel said, ‘sophisticated financial and political capital’ will systematically dispossess the country’s natural resources and put them into the hands of foreigners’.
Now its seems he is happy to rush ahead with new mines regardless of the consequences for PNG and local communities…
Matthew Vari | Post Courier | November 8, 2018
Deputy Prime Minister Charles has expressed his concern over the prolonged review process of the proposed Mining Act amendments into the industry, citing a critical juncture in existing and new investment decisions in the sector.
He said while it is the prerogative of government to review laws, in this case 26 years since the 1992 Act was changed, he said government is aware of concerns from the mining industry which it shared as it keenly negotiates key projects such as the Wafi-Golpu Joint Venture Project.
“Governments have a responsibility to periodically review legislation based on experience,’’ Mr Abel said.
“Sufficed to say that this will be an ongoing consultative process, I know there have been concerns raised by the mining industry and we take them onboard.
“But I would hope that those issues don’t affect some of the projects that are imminent.
“People have made investment decisions and commitments based on the existing legislation and I would hope that we can negotiate those projects under the existing legislation and grandfather (exempt from requirements of new legislation affecting previous rights, privileges, or practices) them.’’
He said while the mining legislative review has been under way for a long time in relation to the proposed amendments when passed should cover prospectively rather than some of the projects that are imminent.
“I would hope that that review process does not interfere too much with some of the existing ongoing negotiations of the current projects under current licensing obligations,’’ he said.
“I don’t want to get bogged down in mining reviews and legislative reviews and good projects that are in hand that can benefit the country greatly under the existing legislation should not be delayed or investors shouldn’t be punished because of a protracted process reviewing legislation.”