Papua New Guinea will licence an offshore mining company to develop the mineral resources found on the seafloor, according to the Mining Department.
It said offshore (deep-sea) mining was never considered possible due to the many challenges and unknowns associated with it.
Mining secretary Harry Kore told The National that since the Government had licensed such a project, it was only proper that it introduced the appropriate provisions within the new Revised Mining Bill 2025 to regulate the new industry.
Kore said that the environmental, social, governance (ESG) issue associated with offshore mining came under the Conservation Environment Protection Authority (CEPA) and the Mineral Resources Authority.
In collaboration with international experts, they will ensure that due diligence is scientifically proven and peer-reviewed before a mining lease is granted, he said.
“It is vital that this emerging industry must be given recognition in the Mining Bill 2025 to be regulated to ensure compliance with environmental safeguards to minimise harm to the marine ecosystem, biodiversity and the livelihoods of the coastal communities that rely on the marine environment,” he said.
The legal framework will resolve issues and establish the guide for licensing, operations and enforcement.
Meanwhile, issues with the deep-sea mining still remain.
Early reports highlighted that environmental concerns by communities on the impact on environment and their livelihoods had not been considered.
Nautilus Mineral Niugini Limited had previously attempted a deep-sea mining project off the coast of New Ireland, but the project failed in 2019.
The State owns 37 percent of the shares in the company.
Attempts to get comments from CEPA were unsuccessful.
