By: PNG Business News November 09, 2023

The Papua New Guinea Chamber of Mines and Petroleum (“The Chamber”) participated in the recently concluded National Development Forum.

The Forum, organized by the Consultative Implementation & Monitoring Council (CIMC), brought together stakeholders from across the public and private sectors, as well as civil society and development organizations, to present on topics under the theme “Measures to Achieve the MTDP-IV Objectives for a Better PNG”.

Chief Operating Officer Pansy Taueni-Sialis delivered the Chamber’s presentation titled, "Sustainability and Optimization of benefits must underpin prudent management of non-renewable resources".

Ms. Taueni-Sialis highlighted the importance for greater collaboration between industry, government, and stakeholders, to collaborate closely, throughout the life of MTDP-IV with emphasis on ensuring sustainable development of the non-renewable resources beyond MTDP-IV

“The extractive resource sectors have for many years formed the foundation of economic and social development in communities, especially in and around project areas. In many resource project areas, project developers often play a leading role in ensuring critical services of health, education, and infrastructure are maintained, so that communities benefit.

With the National Government recently launching the Medium-Term Development Plan IV (MTDP-IV), industry stands ready to partner, for the benefit of Papua New Guinea.”

Although not being privy to discussions leading up to the formulation and development of MTDP IV, the Chamber recognizes the importance of industry to work together with Government, and stakeholders, for a better PNG.

As PNG prepares for the next wave of development in the resources and energy space, we acknowledge the need for closer collaboration to working together to achieve common targets within MTDP-IV, for the benefit of Papua New Guinea.

The Chamber acknowledges progress made by the Marape-Rosso government in working closely with respective project stakeholders, including developers and landowners, to address issues to progress projects. The successful reopening of Porgera mine and the development of Papua LNG projects are expected to support the achievement of MTDP-IV.

To optimize benefit streams, as well as promote sustainable development, particularly in regard to the country’s resources and energy industries, it is highly recommended that clear targets and guidelines be set for the allocation of extractive sector proceeds towards priority sectors such as education, healthcare, infrastructure and sustainable economic diversification. Alignment of investor-friendly sectoral policies can be developed with meaningful consultation based on principles of good governance and anti-corruption, social safeguards, environmental safeguards and local content and diversification, recognizing that communities must be empowered through capacity building initiatives. With the need for enabling infrastructure that can support economic development.

Ms. Taueni-Sialis was joined by Ok Tedi Development Foundation (OTDF) Chief Executive Officer Havini Vira, and PNG Extractive Industries Transparency Initiative (PNGEITI) Secretariat Deputy Director Christopher Tabel to present on a session with the sub-theme of “Strategies to prudently manage extractive sector proceeds to achieve the 2027 target” of MTDP-IV.

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