Resource Industry Willing To Embrace Change, Says PM
Investors and stakeholders in the resource industry have expressed satisfaction to amendments to the existing resource laws, says Prime Minister James Marape.
Mr Marape said for the revised Oil and Gas Act and other resource laws, the conversations that the state has with the industry has been positive.
He said the industry is willing to embrace changes that the government will be introducing in the amendments.
“The industry is saying we are happy to work or whatever you want tell us so we are happy to work with you so the industry has responded positively to some of the proposed changes we are putting.
“I did make an indication to them that if we make changes this year, implementations of this changes will come into effect as we celebrate independence in 2025, when the nation celebrates 50 years of independence that is a term our country will move in as far as resource harvest is concerned,” he said.
Mr Marape said with regards to Wafi-Golpu they are in the business of eliminating the previously signed memorandum of understanding and are now tiding discussions with the provincial government and landowners and very soon Wafi-Golpu will be a project that is generating revenue and are hoping to bring that soon.
“For Porgera, I’ve asked mining advisory council to sit at the very earliest and they have done their due diligence, have seen the application made by our current operators for it to be renewal and they will make their conclusion very soon and we will know the future of Porgera,” he said.
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