china to explore png for minerals

China to explore PNG for minerals
Govt signs deal with Chinese agency, says Sir Moi

THE National Government has signed a deal with China Exploration and Engineering Bureau (CEEB) to allow the Chinese company to carry out exploration activities in the country.
The deal was signed by Deputy Prime Minister and Minister for Petroleum and Energy Sir Moi Avei in Beijing on Monday night on behalf of Mining Minister Sam Akoitai.
In a statement, Sir Moi’s said the deal would enable CEEB to send a technical team to PNG to identify opportunities for exploration in gold, copper, chromites, magnesium and other minerals.
“CEEB had been watching the progress of Ramu Nickel Project, which had now been taken over by Metallurgical Corporation of China (MCC).
“CEEB has been directed by the Chinese government to follow in the footsteps of MCC to look into opportunities in the mining area,” Sir Moi said.
“The Chinese economy had great demands for many minerals, and PNG is well placed to provide the resources for the Chinese economy,” he said.
CEEB would be applying for exploration licences in the country and then later apply for exploring into projects in investments whether in small or large scale mining projects.
Yesterday, Sir Moi met with the Chinese Commerce vice minister, Zhang Zhigang where they took up investment opportunities in PNG.
Mr Zhang said China was very keen for further Chinese investments in PNG that could enable both countries to strengthen and deepen the existing bilateral relations.
Their discussions touched on agriculture, textile manufacturing, fish canning and tourism as well as China/Pacific Island Leaders’ Forum.
Upon an invitation from the PNG government, China will send a technical team to do an onshore assessment into the commercial viability of investment in the above areas.
During the meeting Sir Moi stressed that whilst projects like Ramu Nickel were important, the PNG government wanted to see more investments in agriculture, fisheries and tourism to allow Papua New Guineans’s active participation in building the economy.
“We want to see investments that would provide employment opportunities, training and onshore processes that will add value.
“China has the capital, the appropriate technical and management expertise required,” said Sir Moi.
Both ministers agreed the need for both countries to sign a more comprehensive development co-operation agreement to cover these investment and development initiative.
They also agreed that because it is win-win situation for both countries, both governments must cooperate to assist these investments.