The Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) has endorsed the government's decision to delay the passage of the Gold Corporation Bill and seek wider stakeholder consultation.
At a recent consultative workshop on Wednesday, 15th April 2024, Mining Minister Muguwa Dilu announced that all stakeholders would have the opportunity to provide recommendations for amending the Gold Corporation Bill.
Over the next six months, stakeholders are expected to submit their recommendations for possible amendments before the bill reaches parliament.
PNGEITI Executive Director Lucas Alkan emphasised the need for transparency throughout the discussions and recommendations by both the government and stakeholders leading up to the amendment and passage of the bill.
"This is an important bill as it will underpin the growth of the economy by allowing PNG to have its own gold refinery and move into downstream processing of natural resources to finished products ready for export," said Mr Alkan.
"We commend the government for not rushing to pass this bill and for seeking stakeholder views. However, we call for transparency in all discussions and recommendations concerning the amendment of this bill," he added.
"PNGEITI plays a crucial role in promoting good governance in the country’s extractive sector, and we wish to see all discussions and recommendations conducted transparently," said Mr Alkan.
Mr Alkan also called on the government to disclose the details of its deal with a Singaporean company, Refinery Holdings Pte Limited.
He emphasised that the interests of the mines, the government, and all concerned parties must be considered in the proposed amendments to the bill.
