SMARÉ: PNG ALREADY HAS A PNG-OWNED GOLD REFINERY, NATIONAL MINT AND NATIONAL BANK
PNG already has a gold refinery, national mint and national bank says Anthony Smaré,President of PNG Chamber of Resources & Energy (PNGCORE) so PNG does not need to go to a tiny Singaporean company Refinery Holdings Pte Ltd to replace them in a deal which could render catastrophic damage to the PNG economy and financial […]
KUMUL MINERALS HAS FINANCIAL AND TECHNICAL CAPACITY TO UNDERTAKE GOLD REFINING IN PNG
PNG Chamber of Resources and Energy (PNG CORE) President Anthony Smaré has questioned why Refinery Holdings Limited of Singapore is being preferred over Kumul Minerals to build and operate a new gold refinery in PNG. In his information briefing to the business community last week, Mr Smare outlined the lack of financial resources, gold experience […]
GOVT MUST CONDUCT SUBSTANTIAL NATIONAL AWARENESS ON NGC BILL’S 966 CLAUSES AND IMPACTS BEFORE ASKING FOR FEEDBACK
PNG Chamber of Resources and Energy (PNG CORE) President Anthony Smaré has called for theState to conduct a 6-month extensive consultation nationally with all impacted stakeholders on the NGC Bill given its extremely negative consequences, in a letter delivered to the Minister of Mining and copied to Prime Minister Hon. James Marape and Deputy Prime […]
Gold Bill’s restriction of Central Bank independence in production of national currency spells disaster for PNG
Anthony Smaré has warned that the provisions of the Gold Bill (National Gold Corporation Bill 2022) which restrict the independence of the Bank of PNG in issuing national currency will be catastrophic for the PNG economy, leading to a scenario of uncontrolled inflation and significant deterioration of the PNG kina. The Morauta government’s reforms in […]
PNG GOLD MONITORING REGIME ONE OF STRONGEST IN THE WORLD
PNG CORE President Anthony Smaré said today that PNG benefits from one of the strongest gold production monitoring regimes in the world and PNG should feel proud of its current regime in place. “PNG’s mining industry adheres to a very rigorous standard and comprehensive scrutiny by government agencies to ensure transparency and accountability in gold […]
NATIONAL GOLD CORPORATION’S DUBIOUS NUMBERS
PNG CORE President Anthony Smaré has expressed great scepticism over the profit and revenue projections of the proposed gold refinery and mint project by the small Singaporean company Refinery Holdings Pte Ltd and their Papua New Guinean promoters, labelling the financial projections as “highly dubious” and not grounded in any realistic understanding of the refining […]
NATIONAL GOLD CORPORATION BILL WILL BE DESTRUCTIVE TO PNG’S SOVEREIGNTY AND ECONOMY
The Papua New Guinea Chamber of Resources & Energy (PNG CORE) has written to the Prime Minister requesting urgent consultations on the serious negative impacts of the proposed National Gold Corporation Bill on existing mining projects, grassroots alluvial gold miners, PNG’s financial sector, the Bank of PNG, the Mineral Resources Authority (MRA), the police and […]