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October 27, 2021
News

OO’Neill: Government Will Not Pay for PNG DP StakeIn Ok Tedi Mine

Prime Minister Peter O’Neill has said thatthe Government will not be paying forPNG Sustainable Development Program’s stake in Ok Tedi.

 

The Prime Minister’s comments come amidst movers bythe Government to expropriatethe giant copper-gold mine inthe Star Mountains of Western Province.

PNGSDP’s 63.4 per cent stake in Ok Tedi is conservatively valued at about K3 billion.

 

Prime Minster Peter O’Neill has giventhe clearest indications of whatthe Government’s intentions are regardingthe future ofthe Ok Tedi Mine.

 

Prime Minister O’Neill told EMTV’s Resource PNG program thatthe government had no intention of paying fofPNG DP’s stake inthe OK Tedi Mine.

 

“We are not going to pay for anything that we already own. Who do we pay?” said O’Neill.
 

The Government plans to acquirethe mine thoughthe passage ofthe Ok Tedi Tenth Supplemental Agreement.

 

The Prime Minister revealed thatthe government has consulted Ok Tedi Mine managementoworkers and landowners regardingthe matter.

 

“We have already discussedthese matters with boththe managementoboththe workers, boththe landowner. We’ve consulted almost everybody that needs to be consulted. So, we will go ahead and presentthe tenth supplementary to parliament and we’ll take it on fromthere,” said O’Neill.
 

However, several lLeadersfrom communities alongthe Ok Mani, Wai Tri and Fly Rivers have threatened to withdrawtheir consent for Mine Life Extension shouldthe government take overthe mine.

 

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