PNG wants to be a mining investor destination

Papua New Guinea is reinforcing its position as its leading destination for mining investment, with significant developments unveiled during the PNG Investment Week conference in Sydney, Australia.   

The country's mining industry, which contributes over 80 percent of export revenue, has been identified as a cornerstone of economic growth.

Mining Minister Wake Goi said that the sector's contributions, noting consistent output of key resources like gold, copper, and nickel.

“Some production highlights over the last five years include an average of 1.7 million ounces of gold per year, approximately 2.4 million ounces annually, around 84,500 tons of Copper concentrates, 33,500 tons of nickel and 3,000 tons of cobalt as mixed hydroxide and about 123,000 tons of chromite concentrates.”  

The mining minister highlighted the upcoming projects aimed at boosting production and expanding opportunities, including the new Porgera Mine, planned expansions at the Ramu Nickel- Cobalt Mine, and large scale projects such as Wafi- Golpu and Frieda River.

These initiatives are expected to attract substantial investments while ensuring benefits are shared equality with local communities.

The government has emphasized its commitment to sustainability, with plans to modernize mining laws to improve standards and community engagement.