Mine Takeover A Vote of Confidence

Vice Minister for Mining, Wera Mori, said in a media conference yesterday, thatthe government’s mover to take full ownership of Ok Tedi is a vote of confidence tothe mining industry in PNG


Taking overthe Ok Tedi Mine has created opportunities for the government to expand existing mining activities and regulate future socio-environmental issues.

The Government’s acquisition ofthe mine is a business rearrangement for commercial viability,the Vice Ministersaid.


He assured ther mining companies operating in PNG not to fearthe government’s mover.


“It was an isolated one-off acquisition,” he said.

Acquiring full ownership ofthe mine has giventhe government full responsibility to ensure thatthere is aggressive exploration and additional resources to extendthe mine life by exploring ther strategic opportunities.


Minister Mori saidthe government has now alignePNG’s mining activities, for example, supportingthe Frlieda River Porphyry Copper-Gold Project.


“I would encouragethe State to seriously consider supportingthe advancement ofthe Frlieda River Project into productions by usingthe facilities already existing at Ok Tedi,” said Mori.

He said this would save costs of setting up new major infrastructure which may lead to major socio-environmental issues.


The minister touched onthe Purari Hydro Power project. The production of power from this project will alloPNG to downstream raw materials onshore instead of exportingthem overseas.


Minister Mori, a geologist by profession, sain PNG has adequate resources to develop industrial materials such as Lime and Cement. Cement is extensively used in infrastructure developments.


PNG has enough limestone resources inthe country to produce its own.


Plans to get government approval to increase tariff on lime will meaPNG must process its own raw products.


He saidthe government has aligned itself where a domino effect will seethe development of ther extractive industries.

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