GOVERNMENT COMMITTED TO SUPPORT THE EXTRACTIVE INDUSTRY
By Sandra ULG
Mining Minister Wake Goi says the government has long recognized the crucial role of the extractive industries in the nation’s development.
The mining minister said this during the PNG Resources Week in Sydney, Australia earlier this week.
Minister Goi says Papua New Guinea is a land of unparalleled opportunity where rich natural resources are complemented by a government sincerely dedicated to fostering sustainable and inclusive growth.
He says historically accounting for over 80 percent of the total export revenue, the mining and petroleum sectors have been the backbone of the economy. They have supported skills development, contributed significantly to wage income tax and corporate tax, created employment opportunities, and funded community projects.
Goi says the government deeply appreciates the sector’s contributions and remain committed to nurturing its growth.
The mining minister commended Prime Minister James Marape’s visionary leadership that continues to be a beacon of strength as they strive to build a stronger, fairer, and more sustainable future for Papua New Guinea.
Minister Goi says Prime Minister Marape’s unwavering commitment to developing natural resources for inclusive growth lays the foundation for the nation’s collective progress.
He pointed out that PNG is a proud host country to world-class giant mines, large scale mines, and small-scale mines, along with several alluvial gold fields across the country.
He says over the past five years the mining sector significantly contributed average annual export revenues of K13 billion to the economy.
Picture Caption: Mining Minister Wake Goi speaking at the PNG Resources conference in Sydney Australia this week.
