A delegation from PanAust recently met with Papua New Guinea Prime Minister James Marape to discuss the economic implications of the Sepik Development Project. The project, which includes the Frieda River Copper-Gold Project and Frieda River Hydroelectric Power Project, is expected to have a significant impact on the economy of the north-western border region of Papua New Guinea.
During the meeting, PanAust highlighted the economic benefits of the Project, including job creation potential and opportunities for local procurement. The company’s commitment to environmental stewardship and community engagement was also emphasized, indicating a focus on sustainable economic development.
From an economic perspective, the Sepik Development Project represents a substantial investment in Papua New Guinea’s natural resource development. The project has the potential to attract further investment in the northern region of the country and contribute to its overall economic growth and global competitiveness.
Prime Minister Marape expressed his support for the Project, recognizing its role in stimulating economic development in remote rural communities. The government’s collaboration with PanAust and its dedication to ensuring the project’s success align with the goal of fostering long-term economic growth and prosperity in Papua New Guinea.
Overall, the Sepik Development Project presents a promising opportunity for economic development in Papua New Guinea, with the potential to create lasting benefits for both the local communities and the national economy. Collaboration between the government, companies like PanAust, and local stakeholders will be crucial in maximizing the economic potential of the project while upholding social responsibility and sustainability standards.