In an exclusive interview with PNG Business News, the newly appointed Minister for Mining, Hon. Wake Goi, shared his priorities, placing emphasis on transparency in regard to all mining deals done under his ministry.
"Any mining deals done under my ministry must be done with transparency," he stated.
Minister Goi, now almost five weeks into his tenure, expressed enthusiasm for the challenges ahead, highlighting the importance of collaboration among the government, investors, and landowners.
His vision centers on creating a favorable environment for all parties involved, ensuring that everyone—especially investors, landowners and the government—benefits from a fair share of the resource development and commercialization, with open dialogue with stakeholders.
His statements follow discussions regarding the Wafi-Golpu project, a priority for the Marape-Rosso government, along with input from the electoral members and Governor for Morobe and the PNG Mineral Resources Authority (MRA).
With only two months left in 2024 and one parliament sitting remaining, Minister Goi outlined his top three priorities:
- Appointment of a Board Chairman for the MRA – Hon. Goi underscored the urgency of filling this critical position to oversee budget approvals and ensure the governance oversight on the operations of the authority. This is important to ensure governance prudence within the State’s regulatory authority, he said.
- Amendments to the Mining Act – The Minister indicated that some provisions of the Mining Act 1992 have been considered necessary for amendments after much consultation with the industry. Other critical aspects of the review such as the fiscal regime will be consulted with stakeholders and will be taken to NEC and tabled in Parliament.
- Amendment of the Mining Safety Act 1977 – This law will now be changed to the Mining Health and Safety Act, Hon. Goi said, to reflect the inclusion and emphasis on mine employees health and safety, alongside the environment protection concern, especially in mining regions. The minister emphasized the need for robust safety protocols to protect local communities and mining employees.
“I will do what I can under my capabilities by prioritizing," he said.
Hon. Goi asserted that clear strategies and open communication are essential for effective crisis management and to prevent disputes among investors, landowners, and other stakeholders.
While he noted other important priorities, such as promoting alluvial mining and exploration in various regions, the minister stressed that these initiatives would be strategically implemented after the start of next year 2025.
He reiterated the significance of alluvial mining as a vital source of livelihood for many locals, stating, “We must protect and advance alluvial mining for our people, to be owned and operated solely by locals as per the amendment.”
Hon. Goi envisions providing better tools, training, and support for local miners, emphasizing collaboration with the Ministry of Commerce and Industry and other related departments and agencies.
Additionally, he aims to advance attempts to attract more exploration investments during his term, to PNG by fostering an environment that encourages exploration while responsibly managing associated risks. The minister is keen on increasing exploration licenses, but with a focus on sustainable resource management.
Recognizing PNG's rich mineral resources and cultural-tribe diversity, he reiterated the importance of crisis management through transparency.
He said, "PNG's clearly stands as a resource rich country, therefore we must apply all laws at all levels. Policy has to be implemented well."
“I am determined to serve effectively throughout this term and beyond, creating a legacy that will benefit generations to come,” he added, reflecting his optimism about making a lasting impact.
“The mining industry is very exciting,” said Hon. Goi. “It keeps me busy and fuels my curiosity to learn more about everything from alluvial mining to deep-sea exploration.”
Goi lauds K92 record production
Hon. Goi also congratulated the K92 Mining Inc. for its remarkable performance at the Kainantu Gold Mine during the third quarter of 2024.
The mine reported record production figures in October, including 44,304 ounces of gold equivalent, underscoring the hard work and dedication of its employees.
The minister lauded the achievements of the K92 team, saying: “This outstanding production highlights the capabilities of our local workforce and also reinforces the importance of the mining sector in driving economic growth in Papua New Guinea."
"The continuation of operations at Kainantu Gold Mine means more jobs for Papua New Guineans and provides a much-needed economic boost for our communities.”
Hon. Goi stressed the benefits of the continuation of the mine's operation, which contributes significantly to the economy by paying corporate taxes, collected by the government as a primary source of income for the country.
These taxes help fund public services like education, healthcare, infrastructure, and social programs, benefiting the entire country, he said.
The tax revenue generated can also be reinvested into local infrastructure, improving roads, utilities, and public facilities, ultimately contributing to the overall growth of both the local community and the nation, Hon. Goi added.
The Minister emphasized that the success of the Kainantu Gold Mine places it firmly on the global map, further promoting the country as a resource-rich nation.
“As we celebrate these achievements, we also recognize the potential for future growth and investment in our mining industry,” Goi added. “K92’s progress positions our country as a competitive player in the global mining sector.”
The minister reiterated his commitment to supporting the mining industry in the country, noting that responsible mining operations play a crucial role in the nation’s economic development.
