Cedric Patjole | PNG Loop | October 9, 2017
The Department of Mineral Policy and Geohazards Management (DMPGH) says it is working to introduce a policy for stakeholders in the mining industry to declare any revenue received or made from mining projects.
Secretary Harry Kore told Loop PNG that the policy idea came about during consultations for the Revised Mining Act.
He said while there are reports of mining revenue generated, a lot of locals impacted by mining activities claim to not see any tangible results.
Kore said the policy will ensure stakeholders such as provincial governments, authorities such as the Mineral Resources Authority (MRA), Mineral Resources Development Cooperation (MRDC), as well as landowner association chairmen and landowner company CEOs declare revenue received for the bene t of all.
“You fail to do that and you will be held accountable and you will be penalised under the law. So it becomes a practise. Every quarter they just declare their interest. We know that so much money goes to our landowners but whether it trickles down to the peoples is another thing,” said Kore.
The policy idea is similar to a draft legislation currently being drawn up by the PNG Extractive Industry Transparency Initiative to make mandatory all revenue from the mineral, petroleum and gas sectors to be fully disclosed as per good governance standards.
Kore said they are yet to have formal discussions regarding the policy idea however, there is cooperation and the policy complements that of the work the EITI is undertaking.
Secretary Kore added that one of the agendas of the policy is to ensure there is sustainability in how revenue is invested back in the country.
It is now two years since the government sold the Tolukuma mine to a Singapore based speculator. Despite repeated false promises from MRA, the prospects for the resumption of mining look as bleak as ever, with no confirmed funding in place!
Tolukuma To Restart Operations
Post Courier | October 3, 2017
The State anticipates mine restart at Tolukuma, Central province, by the year’s end, says Mineral Resources Authority (MRA) managing director Philip Samar.
However, this will depend on how soon Singaporean developer Asidokona Mining Resources PTE, sorts out the regulatory requirements especially those pertaining to its preparations for it to return to mining.
Mr Samar was responding to queries by the Post-Courier on a situation update at this mine.
Production was planned for the month of July announced by Tolukuma Gold Mine executive director Vincent Siow in June this year during the signing of the revised memorandum of agreement (MOA) for the project.
However, its plans had to be shelved when its major partner decided to withdraw its investment.
Tolukuma Gold Mine (TGM) executive director Vincent Siow in August, had advised that Asidokona managed to convince US Funds, which he said were familiar with the mining industry in PNG to join the venture.
“MRA is aware that the developer is doing tests to fulfill that requirement. It is for them to meet those conditions and to come back to us. Failing that some decision will have to make as to what then happens.
“There are some things that we can do to assist. We want to be proactive and in doing so work with them so that they can meet those conditions,” the managing director said.
Meanwhile, Mr Samar confirmed that landowners of Tolukuma have already signed off on the revised MOA for the project.