A PanAust delegation of seven met with Papua New Guinea Prime Minister the Honourable James Marape to discuss the nation-building Sepik Development Project that includes the Frieda River Copper-Gold Project and Frieda River Hydroelectric Power Project, amongst a multitude of other infrastructure projects that will enable the economic transformation of the north-western border region of Papua New Guinea.
In meetings with Honourable Prime Minister James Marape in Port Moresby recently, PanAust took the opportunity to elaborate on key aspects of the Project including its enormous economic impact, its job creation potential, the need to minimise environmental risks, and how it would have a catalytic impact on Papua New Guinea’s regional and national growth.
During the meeting, PanAust Managing Director and CEO Daling Zheng reiterated the company’s pledge to prioritise local hiring and procurement, ensuring that the benefits of the Project would be felt across the entire supply chain and within project impact areas and nearby communities.
He also emphasised Frieda River and PanAust’s dedication to environmental stewardship and ongoing community engagement, highlighting the company’s intention to operate in accordance with the highest environmental standards.
“On behalf of our shareholder Guangdong Rising Holding Group, I would like to say how grateful we are for being given the opportunity to engage in constructive dialogue with the Prime Minister and the Government of Papua New Guinea. As discussions progress, I want to restate that we remain steadfast in our commitment to fulfilling regulatory requirements and engaging in meaningful discussions with government stakeholders and local communities.
“The Sepik Development Project represents not only a significant investment in Papua New Guinea’s natural resource development history for us, but also a commitment to helping foster long-term growth and prosperity in the country. We believe that by working hand in glove with the government and local stakeholders we can unlock the full potential of this Project and create lasting positive change for generations to come,” Mr Zheng said.
Prime Minister Marape expressed his support acknowledging the Project’s potential to stimulate development of remote rural communities especially in the two Sepik Provinces.
“The project represents a significant opportunity to harness our natural resources responsibly and create lasting benefits for the people of Papua New Guinea.
“The broader Sepik Development Project has the potential to become a cornerstone of Papua New Guinea’s economic development strategy, attracting further investment in our northern region and bolstering our position in the global economy,” Prime Minister Marape said.
Frieda River Limited and PanAust remain dedicated to continuing to work collaboratively and transparently with the Papua New Guinea Government and the impacted and affected communities to ensure the Project’s success whilst upholding the highest levels of social responsibility, corporate governance, and sustainability.
