It’s an exciting time to be attending the Mining and Petroleum Conference with our leadership team.
Held at the Hilton Hotel in Sydney, the ambiance was anticipatory with excitement as we looked forward to the beginning of important conversations about the next wave of resources set to impact many businesses and change PNG’s economy over the next few years.
It was a pleasure to begin the day receiving a keynote address from Prime Minister of Papua New Guinea, Hon. James Marape, who briefed the audience on the reason many of us were sitting in the function room: the investment potential in PNG’s resources sector.
At the forefront, Mr Marape summed up the sheer importance of having this conversation, and gathering together the key players in the industry: “We are a mineral and petrol nation. My country can have its fair share of problems just like any other, but on record, has far better return on investments”, Mr Marape said.
The Marape Government’s key message of the day was the importance of getting the ‘green light’ for the top 5 projects: Pogera, Pn’ynang, Twinsa Pasca, Papaua LNG, and Wafi-Golpu. With a combined worth of $30 Billion, once completed, these projects will be responsible for doubling the nations GDP.
Hon. Pat Conroy, Minister for International Development and the Pacific followed the Prime Minister’s speech by addressing the PNG Government’s role in providing confidence and economic resilience to the nation and its activity, particularly in kicking the 5 projects into gear.
It’s clear why the Marape Government put forward the very clear message that they are only seeking investors under the right conditions – that it’s about partnering for the long-term investment. Throughout the day, the collective message from various keynote speakers was about shifting the mindset away from ‘resources’ and more about developing the prosperity of their people economically. It was also evident that Australia’s role in this would be vital.
A second focus given attention was improving the safety of the nation by putting law and order in place with an investment in building up the police force. Additional priorities addressed were investment in ports; connecting PNG through road and highways infrastructure; and increasing agricultural safety and exports as a key non-mining export.
For the remainder of the day, we had the pleasure of receiving presentations on the global trends outlook from the key players in the industry, namely: Newcrest, Harmony Gold, Total Energies, Santos and Exxon Mobile. It was positive to receive the status and updates on each of the 5 transformational projects.
The evening saw a number of key players awarded across varying categories but our warmest congratulations went out to K92 Mining Inc. who were awarded Recognition of Outstanding Women’s Contribution in the Resource Industry with their Adult Literacy Program which teaches English in the Agarabi area to raise the literacy standards. Giving Back to the PNG community through literacy is one of our own impact priorities and something close to our heart so it was humbling to congratulate a like-minded organisation in the mining industry.
Overall, the first day was upbeat and with many positive outlooks for the future as PNG shapes itself as a country ready to do business. We look forward to the days to come, with much more insight to gain!
Pictured L – R: Gary Blair (Principal Training Consultant); Kristine Berry (Managing Director); Kasey Smith (Branch Manager); and Stephen Mead (PNG Country Manager)