Governor Numu officially opens lower highlands consultation
by PNG Business News - September 07, 2021
Photo caption: Eastern Highlands Governor Hon Peter Numu (seated third from left) with stakeholder representatives from provinces Western Highlands, Chimbu, and Eastern Highlands including the State legal and policy officials and the National Secretariat staff at the Bird of Paradise Hotel after he officially opened the lower highlands regional consultation on the PNGEITI Commission Bill.
Governor for Eastern Highlands Province Hon Peter Numu has given his full support for the establishment of the Extractive Industries Transparency Commission.
Governor Numu opened the lower Highlands Consultation workshop on the PNG Extractive Industries Transparency Commission Bill in Goroka on Monday, September 6th, 2021.
He welcomed the State legal and policy officials from key government departments, Department of Petroleum and Energy, Department of Treasury, Constitutional and Law Reform Commission, National Economic and Fiscal Commission, Internal Revenue Commission, including Provincial administration key representatives from Western Highlands, Jiwaka, Chimbu, Eastern Highlands, and the PNGEITI staff who gathered in Goroka for the week-long consultation.
“As the Governor of Eastern Highlands Province, I am in support of transparency and accountability in the extractive sector.
“The government must be accountable and it must make sure the developer is transparent in the extraction of our natural resources,” he said.
“Our government recognises the need to have transparency and visibility of revenue received from the extractive projects and other sectors in the country particularly in our province.
“We also acknowledge the importance of having factual data from the sector to ensure we are able to make informed decisions in the governance of the sector.
He added that Eastern Highlands Province contributes significantly to the economy of the country through coffee production and exports. The province is a major coffee producer and from coffee exports revenue is generated for the country, while local farmers benefit directly from selling their coffee produce.
“The province also hosts the K92 Mine located in the Kainantu District, that started four years ago. The company K92 Mine Ltd paid K25 million to the government last year, given the tough economic times and is looking at a promising future for the province,” he said.
“Our government also recognises the importance of supporting the work of the PNGEITI in transitioning to an independent entity as proposed ‘Commission’ to fully implement the EITI requirements and best practice Standards that PNG has signed up to implement for our benefit.
“We look forward to providing our comments and views on the proposed PNGEITI Commission Law and work in close consultation with the PNGEITI as it promotes good governance, accountability and transparency in the resources sector.
He acknowledged the National Secretariat’s leadership and the government agencies for their participation and contribution to drafting of the Commission law and the consultation process and reiterated that consultation is the way forward as it captures our people’s views in framing this important legislative requirement.
PNG Business News - June 28, 2021
Extractive Industries Transparency Commission Bill Ready for Public Consultation
PNGEIT Commission Bill Technical Working Group Team Members from left; Eva Boas (Department of Personnel Management), Vanessa Asivo (Internal Revenue Commission) Channan Kumalau (Department of Petroleum) and Lois Stanley (Constitutional Law Reform Commission) at a consultation for the proposed bill mid-June in Port Moresby. A proposed legislation to transition the Papua New Guinea Extractive Industries Transparency Initiative National Secretariat into a statutory body is ready for public consultation beginning next month. This follows the successful conclusion of a series of consultations among legal and technical officials of key government institutions, mining & petroleum companies and civil society organizations on the elements of what is proposed to be the Papua New Guinea Extractive Industries Transparency Commission in Port Moresby last week. PNGEITI Head of National Secretariat Mr. Lucas Alkan thanked instrumentalities involved for progress made so far in shaping an appropriate legislation that will be a best fit for the replacement of the PNGEITI National Secretariat which is now situated at the Department of Treasury. “When enacted into law, the PNGEIT Commission will function as a statutory body for the implementation of the global Extractive Industries Transparency Initiative Standard and principles through the publication of EITI Reports,” Mr. Alkan said. “The push for the establishment of the PNG EIT Commission is part of a bigger policy drive to institutionalize and systemize EITI reporting anchored into the PNG legal and policy framework. “PNG has made considerable progress with the publication of seven flagship PNGEITI Reports since PNG subscribed to the EITI Global Standards in 2014 to promote transparency and accountability in mining and petroleum sectors to enhance good governance and better management of proceeds from these important sectors of the economy. “Seven years into implementing the EITI Standards through the publication of EITI Country reports and considering the fact that PNG is endowed richly with mineral and petroleum resources, PNGEITI is maturing into its next stage to meet the evolving challenges of the industry. “What the PNGEITI Multi Stakeholder Group is doing now is to legally establish an entity to render administrative services for effective EITI implementation in Papua New Guinea. “I am pleased to note that considerable progress has been made so far with a draft bill already in our hands and also pleased to note that the PNGEITI is comfortable with this piece of legislation which will undergo further public consultation in the coming months. “A technical team conducting consultation on the draft bill will commence next month and I encourage all stakeholders to participate in the consultation so that we get a final product that has the inputs of the wider public. “First consultation will be held in the New Ireland Province for the New Guinea Islands region and then move to the rest of the regions in the country” Mr. Alkan said.
PNG Business News - August 06, 2021
Make all Transactions in Mining and Petroleum Value Chain Transparent: Ginson Saonu
Morobe Governor and Deputy leader of the ruling Pangu Pati Hon Ginson Saonu today opened the PNG Extractive Industries Transparency Commission Bill Momase Regional consultation in Lae and gave his backing for the establishment of the Extractive Industries Transparency Commission. He welcomed a State Technical working group comprising the Department of Petroleum, Department of National Planning, Constitutional and Law Reform Commission, Department of Treasury and staff from the PNGEITI National Secretariat to administer the consultation. The Governor underscored the importance of reflecting the national goals and directives enshrined in the Constitution in making policies and laws that govern the resource sector. The Momase consultation is the second leg of a series of regional consultation to gauge views from stakeholders to shape a bill that is reflective of views from wider community for better implementation of EITI Global Standard in Papa New Guinea. Consultation workshop starts today and ends on Thursday this week. The implementation of EITI Principles and the Standard in Papua New Guinea rides on a National Executive Council Decision administered by as a secretariat under the Department of Treasury. The proposed law aims to establish the PNGEITI National Secretariat as a commission to provide policy recommendations to the Government and more so provide a clear description of activities taking place in the PNG mining and petroleum industry. Deputy Head of PNGEITI National Secretariat Christopher Tabel thanked the Governor for opening the workshop which is the second of regional consultation rolled out and will continue to two other regions. “The PNGEITI is a state initiative and it’s only fitting and delightful moment for the state working group on the legislation and the instrumentalities involved in the process to have a Governor of existing and upcoming resource projects of huge magnitude. “PNGEITI has been in operation since 2014 effected by a NEC decision and now we are moving into the next step in anchoring this extractive industry reporting process into PNG’s legal and administrative system. PNGEITI has published 7 country reports detailing activities taking placing in the PNG mining and petroleum space. “We thank the Morobe Governor and his hardworking administration team for the support and the welcome that we have received from Morobe. We look forward to a meaningful consultation in the coming days with all stakeholders from Government, Civil Society organizations and resource companies,’’ Mr. Tabel said.
PNG Business News - June 15, 2021
PNGEITI Praises Open Dialogue to Reopen Porgera Mine
The PNG Extractive Industries Transparency Initiative (PNGEITI) has praised the open stakeholder dialogue culminating in reaching consensus to re-open the Pogera Mine in Enga. Parties in April this year sanctioned a “Framework Agreement for the New Pogera Project” which spells out the roadmap to reopen the mine. Mark Bristow, CEO and President of Barrick Gold last week explained key elements of “Framework Agreement for the New Pogera Project” at a public forum at the Piam Oval in Pogera witnessed by PNG Prime Minister James Marape, landowners and other leaders. In the new agreement, PNG stakeholders will together own a 51 % equity stake in the mine while Barrick Niguini Limited (BNL), a joint venture company in which Barrick and Zijin Mining Group each own 50% will hold 49 %. BNL will remain the mine operator. At the end of the first ten year period, the PNG stakeholders will have the option to purchase BNL’s 49 % PNGEITI Head of Secretariat Lucas Alkan remarked that the open discussion throughout the negotiation process on the part of the mine operating lead, Government and landowners has culminated in this agreement signed happily by all parties. “We at the PNGEITI congratulate the Government and the project lead Barrick Gold and other stakeholders for reaching a consensus decision to reopen the mine. “Pogera has been an economic powerhouse for many years and people in the country have been waiting for the outcome. “We commend the Prime Minister, the President and CEO of Barrick Gold Mr. Mark Bristow for the leadership in ensuring that the negotiations were done in the transparent and open manner. “PNG Extractive Industries Transparency highly encourages such openness in the negotiating process for resources benefits and importantly the responsibilities that each stakeholder must take on to ensure smooth flow of proceeds. “We look forward to working with the Government and the project operator in the areas of transparency and accountability to help derive best value for all stakeholders. PNGEITI commitment to reporting on developments in the mining and petroleum space is becoming stronger with new reporting dimensions taking shape as we making progress in promoting transparency and accountability in the PNG mining and petroleum industry” Mr. Alkan said.
PNG Business News - December 02, 2021
Adyton Resources hits significant copper at Feni Island, Papua New Guinea
Photo credit: Adyton Resources Adyton Resources Corporation has reported significant copper assays at its 100% owned Feni Island Project (Feni) in Papua New Guinea following the completion of the company’s maiden drilling program of five diamond holes (1,982m) in September. The initial objectives of the program were to expand the gold resource as well as test various induced polarisation (IP) anomalies for the potential of a copper porphyry system. Multi-element assays have now been returned with significant copper intersections being recorded from hole ADK004 in two zones – a shallower disseminated zone of copper mineralisation followed by a zone of massive sulphide copper mineralisation: Disseminated Cu + Au: • 35.9m (70.7 to 106.6m) @ 0.3% Cu & 1.1g/t Au Massive sulphide Cu + Au: • 6.4m (149.7 to 156.1m) @ 5.1% Cu & 1.6g/t Au Incl 3.6m (151.5 to 155.1m) @ 6.9% Cu & 2.1g/t Au Incl 0.7m (154.4 to 155.1m) @ 14.5% Cu & 2.4g/t Au Adyton Resources President, Executive Chairman and CEO, Mr Frank Terranova, said the assay results demonstrated Feni’s significant copper potential. “The results confirm that Feni could contain zones of high-grade copper within the extensive gold mineralisation and this confirmation of massive sulphide copper in the system justifies more work which is currently being planned,” Mr Terranova said. “The recent drilling program has highlighted the potential for a significant discovery to be made in the 1.5km long Kabang structural corridor. The corridor is lightly drilled, and going north is covered by younger volcanic cover, which has hindered previous exploration efforts – a focus of the next program will be exploring under this younger cover.” Located in a Tier 1 region along a mineral belt containing the world class Simberi, Lihir, and Panguna gold and copper projects, Mr Terranova added that the model at Feni was for a “Lihir-style” epithermal gold overprint on a deeper porphyry copper system.
PNG Business News - November 30, 2021
Weir Minerals’ new Trio® TC84XR live-shaft cone crusher improves safety, functionality and reliability
Weir Minerals has upgraded its range of Trio® TC live-shaft cone crushers. The Trio® TC84XR features all the robust design elements that have made live-shaft crushers a fixture of the mining and sand and aggregate industries for generations, while also incorporating the latest technology to ensure it remains integral to flowsheets long into the future. ‘The Trio TC cone crushers’ live-shaft design has been proven to perform in heavy-duty secondary and tertiary crushing applications. We wanted to build on this strong foundation. My team followed a comprehensive design process – we’ve reviewed and tested every inch of this crusher. While the TC84XR may seem familiar on the outside, we’ve upgraded its design and control functionality. The motor is larger and it has a much higher crushing capacity compared to equivalent sized crushers,’ Mark Utecht, Weir Minerals’ Director of Comminution Engineering said. ‘The result: we now have an incredibly robust, powerful and technologically advanced crusher that is easy to operate, has a low wear rate and uses less energy, which ultimately lowers operating costs,’ he said. While many OEMs have made the decision to discontinue their live-shaft cone crushers, Weir Minerals has resisted this trend, believing that – because every mining and sand and aggregate operation is different – there can’t be a one-size-fits all approach. Instead, Weir Minerals partners with its customers and empowers them to choose the machine best suited to their crushing needs. There are some applications and situations where pedestal (fixed-shaft) style crushers may be the more appropriate solution, which is why Weir Minerals continues to manufacture the premium Trio® TP pedestal style machine. Weir Minerals is the only global equipment manufacturer that offers both the TC live shaft and TP fixed shaft style machines. ‘The combination of the Trio TP and TC fixed and live-shaft cone crushers ensures that Weir Minerals continue to offer their customers the right technology, regardless of their site structure, operating conditions or application,’ Mark Utecht, Weir Minerals’ Director of Comminution Engineering said. Trio® live- and fixed-shaft cone crushers are made for modern mines and quarries with advanced hydraulics, wear resistant material and the latest technology. ‘This is really exciting for our customers, as they now have a real choice. The combination of our TC and TP series allows us to have an honest conversation with our customers on the options available to them and make a technological recommendation which truly meets their needs,’ Ekkhart Matthies, Weir Minerals’ Global Application Director said. Replacing existing live-shaft style machines on site with the Trio® TC84XR crusher is now a straightforward process because it has very similar dimensions and is a comparable weight to its live-shaft predecessors. And because it produces the same product, downstream changes aren’t required, which isn’t the case when replacing a live-shaft style machine with a fixed-shaft style machine. In other words, there is no need to re-design existing circuits. Technology upgrades The recent technology upgrades in the Trio® TC84XR crusher have improved its safety, functionality and reliability. ‘At Weir Minerals, we understand and appreciate the important role live-shaft cone crushers play in today’s challenging crushing applications. Combining decades of experience and first-hand customer feedback with innovative designs, the highest quality materials and latest in control technology we believe that our new Trio TC84XR cone crusher is the most reliable and robust live-shaft cone in the market today’ Ekkhart Matthies, Weir Minerals Global Application Director said. Engineered to perform in the most extreme applications, the Trio® TC84XR crusher is robust and easy to maintain and operate. It reliably delivers high crushing force and high horsepower in primary, crushed ore and quarry rock applications. The ability of the TC84XR crusher to handle variable feed and crush pebbles is also partly a result of its large motor; it’s been designed with higher power capability than comparable cone crushers. Ultimately, this translates to a higher potential crushing force and therefore increase in production. Another feature that allows it to handle variable feed, as well as deal with tramp material safely, is the fully-automated tramp-release and setting recovery system. The tramp release hydraulics can also be used to safely clear the crushing chamber should a sudden disruption in plant power cause a shut-down of the cone crusher. The socket assembly has been redesigned to improve sealing, which has optimised functionality and manufacturability by reducing the machining setups of the socket and seal rings. The Weir Minerals comminution team has also redesigned the countershaft assembly to remove welding and machining, while simultaneously improving venting and the dust seal. The Trio® TC84XR crusher, like the range of TP series cone crushers, can be fitted with ESCO® wear parts, designed with superior ESCO® alloys, they can be custom designed based on your specific requirements. With over 100 years of casting expertise and in-house engineering and metallurgy, ESCO transforms what was already a robust machine into one that, in the toughest conditions, is unsurpassed. All Trio® equipment is supported by the Weir Minerals unmatched global service centre network – with over 160 facilities worldwide. Further information can be found at https://info.global.weir/trio
PNG Business News - November 26, 2021
PM Marape welcomes K22 billion Budget
Photo credit: PM James Marape News Page - Treasurer Ling-Stuckey tabling the 2022 Budget Prime Minister Hon. James Marape has welcomed the tabling of the record K22.175 billion 2022 Budget by Treasurer Ian Ling-Stuckey in Parliament. He said it would help Papua New Guinea on the path to economic recovery as well as support successful delivery of the 2022 National General Election. “The total Budget of K22.175 billion is 9.3 per cent higher than the 2021 Supplementary Budget, with a revenue envelope of K16.190 billion which is 18.4 per cent higher than the 2021 Supplementary Budget,” PM Marape said. “The fiscal deficit for 2022 is K5.895 billion, which is 5.9 per cent of the 2022 Gross Domestic Product (GDP). Compare this deficit to K6. 6 billion or 7 per cent of GDP in 2021. “In 2022, the PNG economy is projected to grow strongly by 5.4 per cent, from K93 billion in 2021` to K102 billion. “The 2022 Budget will continue the budget repair and economic recovery path, with strong focus on non-resource sector growth, and at the same time support families and businesses. “There will be increased development and capital funding to high priority programmes and sufficient funding for key social sectors to stimulate economic growth. “The delivery of my Government’s third Budget today, despite the many challenges and obstacles, shows clearly the work that we have been doing. “It points to the fact that our path to economic recovery is correct, and with critical analysis by all multilateral Budget partners like Asian Development Bank, International Monetary Fund and World Bank, our positive trajectories show an increase in GDP for next year and beyond as well as a declining budget deficit trend. “The handing down of the Budget is the single most-important parliamentary occasion of any government. “With hangovers and effects of a slowed economy due to COVID-19, your Government has used the last three years of National Budget to ensure our domestic economy was functional and alive, and our crucial services were maintained. “I want to assure our people and all stakeholders in our economy that we are responsible and prudent to ensure expected outcomes of our Budget are achieved.” PM Marape said since his Government took office in May 2019, it had used the Budget to support schools, hospitals, COVID-19 programmes, road construction, SME funds, retiring old debts and contractual obligations, paying outstanding industrial awards, and many others. “Our 2022 Budget embraces our national outcomes including opening up all parts of our country; intervening in sustainable economy; starting up Porgera, Papua LNG and Wafi-Golpu for our economy; paying for our children’s education in 2022 and beyond; building new hospitals; ramping up support to Bougainville; clearing up projects like new Supreme Court Building and ensuring the 2022 General Election is fully funded,” he said. “All the above we are doing whilst maintaining strict discipline in sticking to our money plan, with our development partners observing our discipline to reforms. “Key in our reforms is to borrow low-cost US dollar denominated borrowings like the Australian $400-million dollar and the Japanese Government US$280million 0.01 per cent five-year grace period lending, which all came directly into our economy by way of Budget support. “I just want to assure our people and our economic stake holders that we are going through tough times, but we will use the Budget policies wisely to share the load of burden and also ensure key infrastructure like the 1900 kilometres of road we built the last two years all over rural PNG through our flagship ‘Connect PNG’ programme are continued.” Article courtesy of PM James Marape News Page