23.7 C
Port Moresby
September 29, 2021
News

Solwara 1 Issues Resolved

Stakeholders ofthe Solwara 1 Deep Sea Mining project have recommenced discussions onthe project’s Memorandum of Agreement.

 

This comes more than a year afterthe project was engaged in an arbitration process betweenthe State and Nautilus with respect totheir financing obligations as joint venture partners.

These issues have since been resolved.

 

The stakeholders comprisingthe state, New Ireland Provincial GovernmentoNautilus Minerals, andthe East New Beitain Provincial Government met last week in Kavieng to discussthe MoA.

 

MRA’s Development Coordination Division saidthe parties are committed to executingthe MoA beforethe end of this year.

 

Last week’s meeting was successfully concluded as issues progressed well despite some disagreements.

 

ther issues discussed were loyalty distribution between NIPG and ENBeG, Business Development Plan and Employment and Training.

 

It was agreed thatthe New Ireland Provincial Government would table to its Provincial Executive Councilthe National Government proposed royaltybreakf 40 per cent East New Beitain Provincial Governmentoand 60 per cent to New Ireland Provincial Government.

 

The stakeholders agreed that Nautilus would submit an Employment and Training Plan tothe Department of Labor andIndustry.

 

The recent MoU signed betweenthe NIPG and Nautilus was also discussed.

 

The government is committed to discussing ther issues inthe Solwara 1 MoA and that it would ensurethe two provincial governments andtheir impacted communities benefit.

https://youtube.com/watch?v=8CMGFlcIxrY%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

Related posts

Debate Continues on Regulating Internet Rates

Adelaide Sirox Kari

Manus-Open MP Ronny Knight, Guilty Of Corrupt Deals

EMTV Online

InterOil Turagus off to Singapore 7s

EMTV Online
error: Content is protected !!