Prime Minister James Marape has declared that Papua New Guinea is entering a new era of resource development, saying his Government has laid the foundation for greater national benefits while maintaining the country’s reputation as a competitive destination for international investment.
Speaking at the opening of PNG Resources Week 2026 in Port Moresby, Prime Minister Marape said Papua New Guinea’s resource industry has been built on more than a century of mining experience and over four decades of petroleum production, positioning the country for its next phase of economic growth.
He acknowledged the contribution of resource companies, investors and industry leaders who have continued to invest in PNG over many decades, describing the sector as the nation’s largest foreign exchange earner and a major contributor to employment, government revenue, royalties, infrastructure and economic development.
Despite global economic uncertainty, Mr Marape said Papua New Guinea remains a reliable investment destination, highlighting the uninterrupted production records of major projects including Kutubu, Ok Tedi, Porgera and PNG LNG.
The Prime Minister said the Government’s resource policy is focused on securing a minimum of 55 per cent total national benefits, stressing that the figure extends beyond government equity and includes taxes, royalties, dividends, landowner benefits, local business participation, downstream processing, employment and other economic returns flowing into Papua New Guinea.
He emphasised that while investors must receive fair returns on their investments, the Government also has a responsibility to ensure Papua New Guinea secures a fair share of the wealth generated from its natural resources.
Mr Marape outlined progress on several priority resource projects, commonly referred to as the “Four Ps and One W”, Porgera, Pasca, Papua LNG, P’nyang and Wafi-Golpu.
According to the Prime Minister, Porgera has resumed operations under renegotiated arrangements delivering around 55 per cent total national benefits over the life of the project.
Papua LNG has been successfully renegotiated, securing approximately 55 per cent total national benefits while maintaining investor confidence.
P’nyang negotiations are nearing completion and are expected to deliver more than 63 per cent total national benefits.
Pasca A is expected to provide approximately 70 per cent total benefits to the State under the agreed project structure.
Wafi-Golpu negotiations are also nearing completion, with the Government pursuing more than 55 per cent total economic benefits, subject to final outstanding matters.
Prime Minister Marape rejected claims that the Government had delayed major resource projects, saying negotiations had focused on delivering stronger long-term national value while preserving commercial viability.
“In the past seven years we have been building strong foundations rather than chasing short-term headlines,” he said, comparing the Government’s approach to the growth of the Chinese Moso bamboo, where much of the development occurs beneath the surface before becoming visible.
He said Papua New Guinea’s resource future extends beyond the current pipeline of major projects, citing ongoing petroleum exploration, emerging gas commercialisation opportunities involving domestic investors, and new mining prospects across the country as signs of continued long-term growth.
The Prime Minister reaffirmed that his Government remains committed to balancing investor confidence with stronger national returns to ensure Papua New Guinea’s natural resources deliver lasting economic benefits for future generations.