by JUSTIN PARKER In recent discussions surrounding the establishment of a gold refinery in Papua New Guinea (PNG), concerns have been raised regarding various aspects of the proposed project. Spearheaded by foreign investors, the initiative has sparked debates over ownership, exclusivity, tax concessions, underwriting, management rights, control over currency, legal protections, and historical failures. These concerns, if unaddressed, could potentially undermine the interests of PNG and its people, particularly the hardworking alluvial miners who form the backbone of the nation's mining sector. At the heart of the issue lies the question of ownership. The proposed ownership structure, favoring foreign investors with a substantial 70% stake, raises eyebrows, especially considering PNG's past experiences with failed ventures like seabed mining. Instead of ceding majority control to foreign entities, many argue that PNG should assert full ownership over the refinery. With the coun
Somare have to reconsider his health. 40 plus years in politics is enough. Let younger generation take the lead.
ReplyDeleteThe 3 arms of the govt hve spoken. However, the O'Neill govt have gone out of their perimeters. The Constitution is alive and well thru the Supreme Court's ruling. And as such, the legitimate PM is the Grand Chief, Somare. And so is Yakasa as the new Police boss.
ReplyDeleteAnd finally, full marks to the Police. They handled themselves very professionally ... no blood was shed.
To J Nape, shame on you!