https://www.engineeringnews.co.za

Mineral-rich area of Papua New Guinea lifts decades-old ban on new mining

2nd May 2017

By: Reuters

  

Font size: - +

A mineral-rich region of Papua New Guinea has lifted a 40-year-long ban on new mining and exploration, opening the way for iron ore and copper operations.

The autonomous Bougainville region has a troubled history over resource development, with a bloody secessionist conflict erupting in the late 1980s stoked by dissatisfaction in how benefits from the Panguna copper mine were distributed.

Global mining giant Rio Tinto Ltd said last year that it would relinquish ownership of Panguna, closed for around 25 years.

The lifting of the ban allows for applications to mine in the iron ore rich areas of Tore, Isina and Jaba, but does not include Panguna, one of the largest copper mines in the world, Bougainville President John Momis said in a statement on Sunday.

He added that scrapping the ban would ensure the area's economic development, with the government seeking applications from genuine investors.

"I look forward to the development of long term economic partnerships to allow Bougainville to fulfil the economic potential she rightly deserves," Momis said.

The moratorium on exploration and mining had been in place since 1971 - with the exception of Panguna - due to local concerns over revenue-sharing and the impact on the environment.

Edited by Reuters

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.092 0.142s - 156pq - 2rq
Subscribe Now