Solomon Islands studies PNG mining reforms to improve governance, gold exports and national economic benefits
Prime Minister Matthew Wale and Papua New Guinea Prime Minister Chief James Marape held a roundtable with Kumul Minerals Holdings Limited and the Minerals Resource Authority in Port Moresby recently.
The meeting gave Solomon Islands an opportunity to learn from PNG’s experience in managing its mining sector.
Prime Minister Wale said managing mineral resources remains a key priority for his Government, especially the alluvial gold sector.
The Prime Minister highlighted important reforms his government is undertaking.
He said the reforms aim to bring greater structure, transparency and national benefit to the sector.
This he said includes plans for a dedicated export unit and, in the longer term, a national gold refinery.
“This will allow us to refine our own gold, control pricing and retain more value within our economy,” he said.
Prime Minister Wale also stressed the need for trusted partnerships across the full value chain, from extraction to processing and export.
“We want a model where all parties benefit fairly and value is retained within our economy to support national development,” he said.
Prime Minister Marape said PNG has faced major challenges in its mining sector but remains committed to better outcomes for its people.
He said landowners must be at the centre of resource policy and that equity arrangements must be clear and properly structured.
“There is often confusion between taxes, royalties, and equity. Investors must know upfront what they will pay and what benefits will flow to landowners and the State,” he said.
Both leaders agreed that strong governance, clear laws and effective oversight are essential for the fair and sustainable management of resource wealth.
The meeting ended with an agreement for PNG mining authorities to visit Solomon Islands in the near future.
PRESS RELEASE
