PM MARAPE: PNG ENTERING NEW ERA OF RESOURCE GROWTH WITH 55%+ NATIONAL RETURNS
- 3 days ago
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Prime Minister James Marape says Papua New Guinea is entering a new era of resource development, with Government policies now securing stronger national returns while keeping the country open for world-class investment.
Speaking at the opening of PNG Resources Week 2026 in Port Moresby today (13.07.2026), PM Marape said PNG’s mining and petroleum industries, with more than 40 years of experience, are now positioned for their next phase of growth.
“We are not new to mining, petroleum or energy. Papua New Guinea has been engaged in mining since the 1920s. We are a proven resource nation with a long record of hosting world-class investments,” he said.
PM Marape thanked investors and companies for decades of commitment, noting the sector remains PNG’s largest foreign exchange earner and a major driver of jobs, revenue, royalties, and infrastructure.
He pointed to the uninterrupted production of Kutubu, Ok Tedi, Porgera and PNG LNG as proof that PNG remains a stable and reliable investment destination despite global uncertainty.
ON THE ‘55% BENEFITS TARGET’
The Prime Minister clarified that the Government’s 55% total national benefit target includes equity, taxes, royalties, dividends, local business participation, downstream processing, and employment.
“Investors must make a fair return. We fully respect that. But our responsibility is to ensure PNG also receives a fair share through taxes, royalties, landowner benefits, local content and wider economic participation,” he said.
PROGRESS ON ‘FOUR Ps AND ONE W’
PM Marape reported strong progress on priority projects:
- Porgera: Resumed under new deal delivering ∼55% total benefits to PNG
- Papua LNG: Gas Agreement renegotiated, securing ∼55% total national benefits
- P’nyang: Negotiations nearing completion, expected to deliver >63% benefits
- Pasca A: To provide ∼70% total benefits to the State
- Wafi-Golpu: Negotiations approaching conclusion, targeting >55% benefits
“In the past seven years we have been building strong foundations rather than chasing short-term headlines. Like Chinese Moso bamboo, much of the growth happens beneath the surface,” PM Marape said.
LOOKING AHEAD
The PM highlighted new opportunities in exploration by TotalEnergies and ExxonMobil, plus mining projects including Frieda River, Tolukuma, Woodlark, Misima, Yandera, and downstream processing for nickel and strategic minerals.
He also reaffirmed commitment to responsible environmental management and said the next 20 years would be “one of the most exciting periods in our country’s history” with 19+ resource projects in the pipeline.
“With sound policies, stable partnerships and stronger national participation, PNG is well positioned to become one of the leading resource economies in the Asia-Pacific region,” he concluded.
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