PNG PM Marape Admits Mining Wealth Not Reaching People
Papua New Guinea Prime Minister James Marape has acknowledged that despite decades of operations at the Ok Tedi mine, the wealth generated has not significantly improved living conditions in Western Province.
 |
| PNG PM Marape Admits Mining Wealth Not Reaching People [Photo by OK Tedi Mine] |
Addressing the closing ceremony of the CMCA workshop in Port Moresby, Mr. Marape praised the resilience of the people but said the province still faces poor human development outcomes. He called on all stakeholders to reflect on how effectively the region’s mining revenues have been managed since the 2001 social license was established.
Mr. Marape revealed that during his time as Finance Minister in 2012, he resisted attempts to restructure the CMCA trust fund, which then held nearly K700 million. “The government is committed to saving for the next generation,” he said, adding that more than K300 million is currently being channelled into long-term development initiatives.
The Prime Minister said a new Memorandum of Agreement (MoA) will be presented to Cabinet next week, proposing higher equity rates for CMCA landowners and an increase in the Infrastructure Tax Credit Scheme from 2% to 3%.
He urged Ok Tedi Mining Limited (OTML) and Kumul Minerals Holdings Limited (KMHL) to formalize the revised benefits package swiftly, describing the 12th CMCA as a “transformational” agreement rather than a routine update.
Mr. Marape noted that with a population of roughly 300,000, Western Province could see major social progress if its resource wealth is managed responsibly.
He assured the people that the government’s goal is to ensure the new agreement delivers meaningful benefits and creates lasting development for future generations.
Also read
Post a Comment