Papua New Guinea

Papua New Guinea (PNG) is an important producer of gold, copper, nickel, silver, cobalt, petroleum, and natural gas. During 2018, eight mines were operating in PNG and four mines in advanced stages of pre-production. The mining sector contributes considerably to PNG government revenues, mainly through the Mining and Petroleum Tax. In 2018, it contributed to 10.1% of total government revenues. The PNG mining sector scores weak in the Resource Governance Index 2017.

Main Minerals

  • Cobalt
  • Copper
  • Gold
  • Natural gas
  • Nickel
  • Silver
  • Petroleum

What  Are We Doing in Papua New Guinea?

Starting in September 2019, we began working on a long-term engagement program in partnership with PNG’s Minister of Mines, the Internal Revenue Commission (IRC), the Mineral Resources Authority, and the Treasury.

Legal and Policy Support

The main items include support to the state negotiations team to negotiate the fiscal terms of three mining contracts; and the review of the mining fiscal regime. 

Training

We are developing a guidance on pricing for gold concentrates, nickel, and cobalt, and correspondent trainings. A range of capacity building activities will include trainings on financial transactions and offshore hubs. 

Audit Support

We are supporting the IRC on mining tax audits.