Tax holidays, although a good incentive for investments especially in the extractive industry, has the potential to lead to poor tax revenue collection from the sector in the long run. This was revealed in a research which was conducted by Ms. Ann- Tania Sipori at the recent 2nd Geoscience, Exploration & Extraction 2024 (GEE 2024) Conference in Port Moresby city. Before presenting the findings of her research to the audience in a packed APEC Haus, Ms. Sipori, who is the Mineral Resources Development Company (MRDC) Technical Manager, made it clear that the research she conducted was independent and does not…
Author: Emmanuel MAIPE
Two mine villages in the Western province will finally be connected to the rest of the province thanks to a new road link that is currently in the works. The funding of this road link project is facilitated by Ok Tedi Mining Limited (OTML), through the National Government’s Tax Credit Scheme (TCS) and OTML has already awarded the road construction contract worth K36.1 million from Atemkit to Kavorabip in North Fly district. The 28.74 km road will serve as a critical link for the two villages of Atemkit and Kavorabip, whose people include the principal landowners of the Ok Tedi…
Poultry farming in the East Sepik province is set to further expand with a new hatchery established in the Yangoru- Saussia district. This new hatchery, located at Haripmo Farm, should enable the province to produce its own day- old chicks to supply the out-grower farmers starting in September. The new hatchery has the capacity to produce 20, 000 day-old a week, says the Farm Manager, Mr. Chris Prestwood. “We will start with producing 5,000-day-old chicks on September 1, 2024, and will ramp up to between 10,000 to 20,000 chicks a week,” Mr. Prestwood said. The Minister for International Trade and…
The people of Yangoru- Saussia and Angoram districts of the East Sepik Province (ESP) can expect better access to services and to the main centers all thanks to a newly set up bridge. The local Member of Parliament (MP) for Yangoru- Saussia and Minister for International Trade and Investment, Richard Maru, told his people that the long awaited Bararat Bridge in the Sepik Plains is now up and positioned. “This next three weeks the contractor, China Shenyang International Corporation, will concentrate on the causeway. This bridge is set to be completed over the next four weeks and ready for opening,”…
Prime Minister (PM) James Marape has given his assurance to companies operating in the extractive industry that his government continues to support the mining sector. The PM when giving his keynote address at the official closing of the 2nd Geoscience, Exploration & Extraction 2024 (GEE 2024) Conference in Port Moresby city on Friday 09th August, said his government is doing this through reforms to mining policies and laws with aim to get in the right investors to do explorations and developments in the countrys mining sector. He then went on to reveal to the participants, international guests and heads of…
Alluvial gold mining continues to play a significant part in the country’s resource sector with its annual export revenue contributing significantly to the nation’s annual budgets; however, there negative implications that come along with it. These negativity impacts were stressed by Mr. Rodney Biri, who is a tutor for Agriculture Research at the University of Goroka in Eastern Highland province. Mr. Biri, who hails from Central Bougainville, shared his experience with PNG HAUSBUNG at the margins of the 2nd Geoscience, Exploration & Extraction 2024 (GEE 2024) Conference in Port Moresby after giving an enlightening presentation on the subject. He said…
Employees at the Ok Tedi Mining Limited (OTML) from the Enga province have successfully raised K80, 000 to support their affected people in Mulitaka following the landslip in the Enga province. The proceeds are from cash donations from the Engan workforce and community in Tabubil as well as a corporate dinner hosted in Tabubil that was attended by the Tabubil business communities including OTML. Speaking at the corporate dinner recently, the group’s lead, Edward Maiapu said, “Although the Mulitaka incident has garnered a lot of support from PNG and the global community, there are certain social issues in the affected…
Injuries and deaths are a constant concern for operators in resource projects and although relying on traditional methods to prevent such risks, the introduction of new technologies have very much improved safety in mining or even petroleum projects. In today’s second session of the 2nd Goescience, Exploration & Extraction Conference in Port Moresby, this topic was presented by Ok Tedi Mining Limited (OTML) expert in safety Mr. James Bu, who stressed that integrating the latest in technologies in assessment and monitoring is key to safety especially with Slope Failures, a serious risk in mining operations. On that note he said…
Perhaps one of the important sectors in the extractive resource business in Papua New Guinea (PNG) is alluvial gold mining, it has contributed quite a lot in mining revenues over the years, but activities in this sector has gone down in the past couple of years. This was revealed by the Managing Director for Mineral Resources Authority (MRA) Mr. Jerry Gerry when giving his keynote address at the opening of the 2nd Geosciences, Exploration & Extractive Conference (GEE 2024) in Port Moresby city yesterday. Mr. Gerry, when giving an update on the overall progress of the country’s mining sector, said…
The fuel prices for this month will slightly increase for all three petroleum products across the country starting today, Thursday 8th August. The Independent Consumer and Competitions Commission (ICCC) announced that the Indicative Retail Prices (IRP) for petrol, diesel and kerosene will increase on average throughout Papua New Guinea (PNG). These retail price increases were mainly attributed to higher oil demand in the United States (US) and the ongoing geopolitical tensions in the Middle East. The domestic retail fuel prices for this month are inclusive of the Import Parity Prices (IPPs) or the imported costs for each petroleum product, domestic…