Papua New Guinea is set to license an offshore mining company to explore and develop its seafloor mineral resources, as announced by the Mining Department. This marks a significant shift, as offshore deep-sea mining was previously deemed unfeasible due to various challenges and unknown factors associated with the industry.
Mining Secretary Harry Kore indicated that since the government is moving forward with such a project, it is essential to incorporate appropriate regulations in the new Revised Mining Bill 2025 to govern this emerging industry. He emphasized that the environmental, social, and governance (ESG) considerations related to offshore mining will be overseen by the Conservation Environment Protection Authority (CEPA) alongside the Mineral Resources Authority. These organizations will ensure that scientific due diligence is conducted and peer-reviewed before issuing any mining leases.
Kore remarked that it is crucial for the new industry to be recognized and regulated under the upcoming legislation, which aims to safeguard the marine ecosystem, conserve biodiversity, and protect the livelihoods of coastal communities dependent on the marine environment. The legal framework being developed will address operational guidelines, licensing, and enforcement mechanisms.
Despite these plans, concerns remain regarding the environmental impact of deep-sea mining, particularly the potential harm to ecosystems and the livelihoods of local communities. Previous attempts at deep-sea mining in the region, such as Nautilus Mineral Niugini Limited’s 2019 project off the coast of New Ireland, have faced setbacks.
In line with the latest developments in Papua New Guinea, the growing dialogue on deep-sea mining within the Pacific region highlights a notable trend towards balancing economic growth with environmental conservation. Similar discussions in New Zealand, where the government is reconsidering its position on deep-sea mining amid concerns about ecological damage, echo this sentiment.
Engagement with local communities and regional cooperation will be vital as Papua New Guinea navigates this new chapter in mineral resource management. By prioritizing environmental safeguards and community interests, there is an opportunity to foster a sustainable approach to resource extraction that respects both economic aspirations and ecological health.
In conclusion, the potential for responsible offshore mining presents an avenue for Papua New Guinea to harness its natural resources while striving for the necessary environmental protections. This juncture could pave the way for a more sustainable future where economic benefits are aligned with the well-being of local communities and marine ecosystems.
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