Papua New Guineas Mining Fiscal Regime: H1 2014

Papua New Guineas Mining Fiscal Regime: H1 2014 Synopsis Timetric’s Papua New Guinea fiscal regime report outlines governing bodies, governing laws, mining licenses and key fiscal terms covering five commodities: copper, gold, silver, nickel and zinc. Executive summary Papua New Guinea has a variety of natural resources such as gold, copper, silver and natural gas. The mining industry in Papua New Guinea is governed by the Mineral Resources Authority and Chambers of Petroleum and Mines. The Mining Act 1992 is the apex law for the mining industry in the country. Scope The report outlines Papua New Guinea's governing bodies, governing laws, mining licenses and key fiscal terms which includes royalties, development levies, corporate tax, withholding tax, stamp duty, tax incentives, capital and exploration expenditure-allowable deductions, and goods and service tax. Reasons to buy To get an overview of Papua New Guinea's mining fiscal regime. Key highlights The Mineral Resources Authority was established through the enactment of the Mineral Resources Authority Act 2005. It is a government agency working under the authority of the government of Papua New Guinea. The Corporate Services Division provides manpower, financial and technology information services and support to the MRA. The development Coordination Division ensures that exploration and mining activities in Papua New Guinea are carried out within the regulatory framework. The GSD is responsible for carrying out earth sciences research and studies, and processes field data to assist and promote exploration, geological and related activities in the mineral sector. table Of Contents

1 Executive Summary 1

2 The Papua New Guinean Mining Industry – Governing Bodies 5 2.1 Mineral Resources Authority (mra) 5 2.1.1 Corporate Services Division (csd) 5 2.1.2 Development Coordination Division (dcd) 5 2.1.3 Geological Survey Division (gsd) 5 2.1.4 Regulatory Operations Division (rod) 5 2.1.5 Special...