PNG's proposed mineral ownership law frightens investors | Asia Pacific

PNG's proposed mineral ownership law frightens investors

PNG's proposed mineral ownership law frightens investors

Updated 15 February 2012, 14:39 AEDT

The Papua New Guinea government is proposing to give ownership of the country's vast mineral resources to landowners.

The proposal comes from Mining Minister Byron Chan who says its time for landowners to share in the nation's wealth.

PNG is undergoing a resources boom not unlike Australia's with high commodity prices and new exploration finds encouraging foreign investment.

But the industry says the Minister's proposal comes as a shock that will create chaos and scare off investors.

Correspondent: Karon Snowdon

Speakers: Dr Colin Filer, Australian National University, Convenor, Asia Pacific Resource Management program; Simon Ekanda, landowner representative from the Highlands; Greg Anderson, Executive Director, Chamber of Mines and Petroleum

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