Equitable distribution of proceeds
AT the recent Sydney Mining and Petroleum Conference, Prime Minister Peter O’Neill promised a wide-ranging review into the current mining and petroleum fiscal regime. At about the same time, he blacklisted a big-name industry personality in Dr Ross Garnaut for comments he made which the prime minister found to be offensive. The prime minister has further called for a thorough review of the precepts that govern the PNG Sustainable Development Program and placed no less than the renewal of Ok Tedi’s mining licence on the line as a condition. The prime minister’s bone with the programme, which has culminated in the move against its chairman Dr Garnaut and the decision to review the programme, is the continued control of its welfare by BHP, the Australian multinational which exited the Ok Tedi mine many years ago. There is the presumption that Ok Tedi mine is fully nationally-owned but the prime minister quite rightly sees where the control comes from and that has raised his anger. Whateve