PNGFA Refers Lae Football Association President to OFC Disciplinary Committee Amidst Funds Accountability Dispute

Papua New Guinea Prime Minister James Marape has addressed the Consultation Workshop on the National Gold Corporation Bill 2024, organized by the Ministry of Mining this morning. Marape highlighted the government's commitment to advancing the downstream processing of gold and other resources in Papua New Guinea.

The Prime Minister pointed out that the country has long been exporting its natural resources only to re-import them as finished products, a practice he described as economically inefficient. He stated, "We have been exporting our natural resources overseas and then buying the finished products back, essentially re-importing them. Before I took office in 2019, we were not benefiting fairly from most of our resource projects. My government is committed to changing this, with projects like Porgera already demonstrating our new approach."

Marape emphasized the benefits of establishing a local gold refinery, noting it would enable the nation to manage its resources better and significantly contribute to its Gross Domestic Product (GDP). He said, "Establishing a gold refinery locally will permit us as a nation to take stock and manage our resources better and contribute far better economically to our GDP. This will drive unprecedented economic growth and sustainability."

He reassured the attendees, including industry professionals, government representatives, and private sector stakeholders, that the National Gold Corporation Bill 2024 is designed to benefit Papua New Guinea without negatively impacting existing mining businesses or their contracts. "This Bill is not intended to disrupt mining businesses or deter investment. Instead, it aims to add value to the mining industry in the country. We will offer the option to refine gold locally and sell it at world market prices," Marape clarified.

Marape invited open dialogue and input on the Bill, stating, "We are open to views and advice from industry professionals and the general public. This consultation aims to ensure that the Bill is properly presented in Parliament, with everyone understanding its future implications. We have made our stance and intentions clear for the benefit of Papua New Guinea. However, if there are suggestions for improvement, we are willing to listen."

Prime Minister Marape concluded by encouraging constructive feedback to refine the Bill, ensuring it serves the best interests of the nation.

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PNGFA Refers Lae Football Association President to OFC Disciplinary Committee Amidst Funds Accountability Dispute