Prime Minister Hon. James Marape has paid tribute to the mining and petroleum sector for its pivotal role in Papua New Guinea’s development over the past 50 years, describing it as a bedrock of national progress and economic resilience.

He was speaking at a  dinner hosted as part of PNG Resources Week by the PNG Chamber of Resources and Energy (CORE) on Thursday night, which brought together leaders from across the resource industry, the diplomatic corps, and government.

“Tonight, we honour 50 years of continued service to our country from the mining and petroleum industry,” Prime Minister Marape said. “Whether you’re a lead investor, subcontractor, public servant, or community partner — thank you. It is because of your contributions that this sector remains a cornerstone of our national development.”

Honouring a Legacy of Investment

Prime Minister Marape acknowledged the rich legacy of the sector, going as far back as the 1920s with the arrival of companies like ExxonMobil and the booming goldfields of Bulolo — then one of the busiest airstrips in the Southern Hemisphere.

He reflected on the foundational investments that have helped shape modern Papua New Guinea, including:

•         Bougainville Copper Limited, whose operations pre-dated Independence and contributed to the national economy leading into 1975;

•         BHP’s investment in Ok Tedi in the mid-1980s, which remains a vital revenue stream;

•        Placer Dome’s development of Porgera Mine in 1989, facilitated by the late Sir Rabbie Namaliu’s government;

•         Oil Search and British Petroleum’s development of PNG’s oil and gas fields, leading to the establishment of the Kumul Export Terminal in 1990;

•         ExxonMobil’s world-class PNG LNG Project, which began production in 2014 and continues to operate above design capacity.

“Earthquakes or global downturns, these projects delivered. No cargo has missed export from the Kumul Terminal since 1990. That is the credibility of PNG,” he said.

PNG’s Resilience and Global Role

The Prime Minister recounted the landmark moment in 2014 when he personally received the first LNG cargo from PNG in Tokyo, marking a new era of global engagement for the country.

“The PNG LNG Project rose out of the 2008 global financial crisis. No one thought we would deliver, yet we did — on time, on budget, and now running 30% above design,” he said. “This is the story of a resilient, rebounding Papua New Guinea.”

A Call for Shared Prosperity

While affirming PNG’s commitment to upholding legal and investment frameworks, Prime Minister Marape called on industry partners to do more to build local capacity and share the benefits of development.

“My people are educated, capable, and ready to participate. Please take my people with you. Incubate local contractors. Grow small businesses from Alotau to Telefomin,” he said.

“Importing foreign labour is expensive. We want local content, not just as policy — but as the heart of our national progress.”

He reiterated his government’s push for a fairer share of resource wealth through increased equity, strong local content provisions, and competitive but fair taxation.

Reform and Stability for Investors

The Prime Minister assured investors that Papua New Guinea remains a safe and reliable place to do business.

“We do not tear up contracts. Governments may change, but our agreements stand,” he said. “We are reforming our court and arbitration systems so disputes can be resolved fairly and efficiently — whether it’s between companies, landowners, or government.”

He also addressed international concerns raised in recent global forums, including during his meeting with the United States Vice President: “When you taught us mathematics, English, and Christian ethics, we learned what it means to do right. We will protect your investment returns — but we also want our people and country to get a little more. This is the spirit of fairness.”

Conclusion: A National Commitment

As PNG marks its 50th year of Independence, Prime Minister Marape urged resource companies to be part of a stronger future built on trust, equity, and shared prosperity.

“Let your company be remembered for helping PNG become a stronger and more prosperous nation,” he said. “We are open for business. This is your investment home. And we will walk this journey together.”