A DELEGATION from PanAust consisting of seven members in a recent meeting with Papua New Guinea Prime Minister, the Honourable James Marape, discussed the ambitious Sepik Development Project. This project, encompassing the Frieda River Copper-Gold Project and Frieda River Hydroelectric Power Project, along with various infrastructure initiatives, aims to catalyze economic transformation in the north-western border region of Papua New Guinea.
During the discussions held in Port Moresby, PanAust elucidated key aspects of the project, emphasizing its substantial economic impact, potential for job creation, the imperative of mitigating environmental risks, and its role in driving regional and national growth.
Daling Zheng, PanAust’s Managing Director and CEO, reiterated the company’s commitment to prioritizing local hiring and procurement, ensuring that benefits permeate through the entire supply chain and reach project impact areas and neighboring communities. He underscored PanAust’s dedication to environmental stewardship and ongoing community engagement, affirming the company’s adherence to the highest environmental standards.
Expressing gratitude for the opportunity to engage with the Prime Minister and the government, Zheng reiterated PanAust’s resolve to comply with regulatory requirements and engage meaningfully with government stakeholders and local communities.
The Sepik Development Project signifies a significant investment in Papua New Guinea’s natural resource development history, reflecting PanAust’s commitment to fostering long-term growth and prosperity in the country. Zheng emphasized the importance of collaboration with the government and local stakeholders to unlock the project’s full potential and create lasting positive change.
Prime Minister Marape echoed his support for the project, recognizing its potential to drive development in remote rural communities, particularly in the two Sepik Provinces. He highlighted the project’s role in responsible natural resource utilization and its capacity to deliver enduring benefits to the people of Papua New Guinea.
Frieda River Limited and PanAust affirmed their dedication to collaborative and transparent engagement with the Papua New Guinea Government and affected communities. They pledged to uphold the highest standards of social responsibility, corporate governance, and sustainability in ensuring the success of the Sepik Development Project.
In a recent meeting between PanAust representatives and Papua New Guinea Prime Minister James Marape, discussions centered around the transformative Sepik Development Project. This ambitious endeavor, comprising the Frieda River Copper-Gold Project and Frieda River Hydroelectric Power Project, holds immense potential for economic revitalization in the region.
PanAust emphasized key aspects of the project, highlighting its significant economic impact, job creation potential, and commitment to environmental stewardship. With a focus on local hiring and procurement, PanAust aims to ensure that the benefits of the project extend to communities across the supply chain.
Prime Minister Marape expressed support for the project, recognizing its capacity to stimulate development in rural areas, particularly in the Sepik Provinces. He underscored the importance of responsible natural resource utilization and the project’s role in fostering long-term growth and prosperity for Papua New Guinea.
The discussions underscored PanAust’s dedication to collaboration with the government and local stakeholders to maximize the project’s benefits while upholding the highest standards of social responsibility and sustainability. As the Sepik Development Project progresses, it has the potential to become a cornerstone of Papua New Guinea’s economic development strategy, attracting further investment and bolstering the country’s position in the global economy.
All in all - The recent dialogue between PanAust and Prime Minister James Marape marks a pivotal moment in Papua New Guinea’s economic trajectory. With the Sepik Development Project on the horizon, there’s palpable excitement about the potential for sustainable growth and prosperity. Collaboration and commitment to responsible resource utilization are key to realizing these ambitions.
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