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Accessing Resource Industry Financing

The third and last day of the PNG Mining and Petroleum Investment Conference took place today with seminars on project updates.

The first seminar of the day was the most important because it focused on accessing resource industry financing.

Infrastructure and security were identified as the key challenges in PNG that investors look at.

The conference room was almost empty when the presentations were given on the PNG Resources Industry Financing.

Greg Evans, Partner KPMG, Deal Advisory, said alot of capital is now seen to be flowing back into the markets.

Mr. Evans said in terms of investor and explorer appetite, PNG is an attractive mining destination. This is because it is host to huge mineral wealth.

However, a survey of mining investment professionals showed that the two key risks that mining executives see for investment in PNG, are access to quality infrastructure and physical security.

President of the PNG Chamber of Mines and Petroleum, Gerea Aopi, said the resources industry remains key for the country’s sustainability.

Mr Aopi said to ensure that PNG gets its fair share of global exploration capital, it needs an efficient licensing framework as well as to facilitate the sharing of exploration risks.

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