14 Aug 2012

PNG's Mining Minister keen to revise Mining Act of 1997

4:25 am on 14 August 2012

Papua New Guinea's Mining minister has indicated that he will keep pushing for legislative changes that will transfer ownership of PNG's vast resources to landowners and provincial governments.

Late in the last parliament, Byron Chan tabled plans for the ownership transferral, saying ordinary Papua New Guineans enjoy very few benefits from development of their resources under the current system.

The plans shocked resource companies and the Prime Minister Peter O'Neill had to reassure investors that their interests in PNG would be protected.

However the Minister, Byron Chan, says he is still looking to revise the Mining Act of 1997:

"We're capturing all our communities' input into amending that act, to increase the benefits of the landowners and provincial government as well as the government and not impeding too much on the companies as well."

Byron Chan.