Mining, Petroleum Reviews Uncertain
There is uncertainty around amendment reviews for the mining and petroleum industries.
PNG Chamber of Mines and Petroleum vice president, Richard Kassman says the industry is yet to hear what will be major areas of changes and how will those changes affect stakeholders.
Former politician, Arthur Somare said while not so much have changed around the existing legislation however much has stressed on landowner benefits and issues surrounding the benefit sharing agreements.
Mr Somare said one of the things the industry and everyone needs to be sure of is that at the end of every licence the land does not transfer back to the state, the land stays with the landowners.
He said the current legislation has kept the development forum which is a critical process for all parties concerned in any mining or petroleum projects.
“The development forum is called for where views and a consultation process takes place where the state together with the developer hear the views of the landowners and come to agreements on certain things that are necessary for the project to secure and the government to secure the licence to operate on,” he said.
“That consultation process is absolutely critical with the landowners themselves with the consultation process will be able to get into agreement with everyone.”
Mr Somare said this process is important as it addresses issues of having access onto their land (landowners) for mining or petroleum period.
“And for access to that land, there has to be some form of compensation of benefit that must be accepted by the landowner and must be offered by the state.
The existing legislation, the regime is relatively very clear that the landowner not only becomes the landowner but is now a commercial owner in that two per cent equity given to them,” he said.