Shadow Minister for Mining James Donald has welcomed the news of proposed amendments to the Mining Act by his counterpart Minister Muguwa Dilu, but has pointed out the need for further considerations before the Parliament sitting next month.
“I welcome the reforms as the shadow minister for mining, especially the regulatory benefits such as royalties increase to 10 per cent, which is long overdue in my opinion.” Mr. Donald said.
He went on to recommend that between now and the Parliament sitting, the minister ought to make it his business to host adequate consultations with the industry and make sure all stakeholders understand the new amendments.
“Meanwhile, the OTML review is scheduled for next year, so I call for all stakeholders to host consultations for better arrangements. The review must result in a better deal for all, along with the understanding under the reforms proposed by the minister,” Mr. Donald stated.
He further suggested that the government must consult with OTML and industry experts to assess if Ok Tedi is able to buy off and operate smaller mines in the country like K92, which can be managed by our own SOE since Ok Tedi has shown its ability to perform.
“We must not rush into overly ambitious deals but take our time to properly discuss with stakeholders and plan properly.”
