The Mineral Resources Authority saysthere is growing world interest in PNG’s mineral sector.
Acting Executive Manager inthe Geological Survey Division Nathan Mosusu attributed this tothe conducive mining fiscal regime in PNG
Mr. Mosusu attendedthe
Nathan Mosusu representedthPNG mining sector.
He toldthe conference thaPNG has a strong and stable regulatory and policy mechanisms and processes to facilitate future potential investments.
He gave an overview of South Africa’s mining giant Harmony Gold who is in a joint venture arrangement with Australia’s Newcrest Mining operating inthe country. The two are operatingthe Morobe Mining Joint Venture inthe Hidden Valley, Morobe Province.
The Mineral Resources Authority demonstratePNG’s capabilities in facilitating mining investments inthe country in its booth. Featureed were promotional materials like brochures, geological data and information onthe regulatory and policy requirements were distributed.
There were a lot of enquiries relating tPNG’s geology, mining policies and regulations, and alsothe political situation inthe country.
The Mineral Resource Authority’s delegation encouraged more South African companies to invest inthe country and to show thaPNG hasthe experience and ability to supportthem ifthey invested.
They said investing inthPNG market is an advantage because of its favorable mining fiscal regimes such as low income tax on income and dividend.
Bernadette Efi, National EMTV News