Papua New Guinea’s Mining Fiscal Regime: H1 2015

Papua New Guinea has a variety of natural resources such as gold, copper, silver and natural gas. The Mineral Resources Authority (MRA) is the authority responsible for governing the mining industry in Papua New Guinea. The Mining Act 1992 is the apex law for the mining industry.

Scope

GlobalData’s 'Papua New Guinea’s Mining Fiscal Regime: H1 2015' report outlines the governing bodies, laws, licenses, rights and obligations and tax-related information which includes royalty, development levy, corporate tax, withholding tax, stamp duty, tax incentives, loss carry forward, allowable capital expenditure, exploration expenditure, allowable exploration expenditure, goods and service tax

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 Papua New Guinea Chamber of Mines and Petroleum is an association for the mining and petroleum industries in Papua New Guinea.

• Mineral Resource Authority Act 2005 defines the Mineral Resources Authority powers and functions, and related purposes.

• Mining Act 1992 deals with issues related to the ownership of minerals, land for exploration and mining, mining on reserved land, the application and granting of licenses.

Reasons to buy

Gain overview of Papua New Guinea’s mining fiscal regime

Companies mentioned

Table of Contents

1 Executive Summary

2 The Papua New Guinean Mining Industry – Governing Bodies

2.1 Mineral Resources Authority

2.1.1 Corporate Services Division (CSD)

2.1.2 Development Coordination Division (DCD)

2.1.3 Geological Survey Division (GSD)

2.1.4 Regulatory Operations Division (ROD)

2.1.5 Special Projects Unit (SPU)

2.2 Chamber of Mines and Petroleum

3 The Papua New Guinean Mining Industry – Governing Laws

3.1 Mineral Resource Authority Act 2005

3.2 Mining Act 1992

3.3 Environment Act 2000

4 The Papua New Guinean Mining Industry – Licenses

4.1 Exploration License

4.2 Mining Lease

4.3 Special Mining Lease

4.4 Lease for Mining Purposes

4.5 Mining Easement

5 The Papua New Guinean Mining Industry – Key Fiscal Terms

5.1 Royalty

5.2 Development Levy

5.3 Corporate Tax

5.4 Withholding Tax

5.5 Stamp Duty

5.6 Tax Incentives

5.7 Loss Carry Forward

5.8 Capital and Exploration Expenditure-Allowable Deductions

5.8.1 Allowable Capital Expenditure

5.8.2 Exploration Expenditure

5.8.3 Allowable Exploration Expenditure

5.9 Goods and Service Tax (GST)

6 The Papua New Guinean Mining Industry – Future Development

7 Appendix

7.1 Abbreviations

7.2 Methodology

7.3 Secondary Research

7.4 Primary Research

7.5 Contact GlobalData

7.6 About GlobalData

7.7 GlobalData’s Services

7.8 Disclaimer

List of Tables

Table 1: The Mining Industry in Papua New Guinea – Fiscal Regime Terms and Other Taxes, 2015

Table 2: The Mining Industry in Papua New Guinea – Withholding Tax (%), 2015

List of Figures

Figure 1: The Mining Industry in Papua New Guinea – Commodity Mines at Different Stages (Number of Mines), 2015

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