Papua New Guinea remains a stable and attractive destination for global investment in mining, petroleum and energy, Prime Minister James Marape says, highlighting the country's five decades of democratic governance and its long history as a reliable resource producer.
Speaking at the opening of the PNG Resources Week 2026, PM Marape said Papua New Guinea had reached an important milestone as it celebrated 50 years since Independence, while maintaining a robust democracy, a free-market economy and strong relationships with major economies around the world.
He said the country was far from being a newcomer to the extractive sector, noting that mining activities date back more than 100 years, and that commercial oil and gas production has been underway for more than four decades.
"We are not new to the mining industry. We are not new to the petroleum and energy industry," Marape said. "We have over 100 years of engagement in mining and more than 40 years of successful oil and gas production."
The Prime Minister thanked international resource companies for their continued investment in Papua New Guinea, saying the industry remained the country's largest export earner while generating employment, royalties, taxes and equity returns for the nation.
Marape reaffirmed his government's policy of ensuring Papua New Guinea receives a minimum 55 per cent total benefit from major resource projects. He clarified that the policy extends beyond government equity and includes royalties, taxation, local business participation, downstream processing, and other economic benefits.
He said investors should continue to make fair returns while ensuring a greater share of economic benefits remains within Papua New Guinea.
"With every dollar earned from our resources, at least 55 cents should remain in Papua New Guinea through taxes, royalties, equity and wider economic opportunities," he said.
Marape pointed to agreements reached on projects such as Porgera, Pasca and P'nyang as examples of the government's approach to balancing investor confidence with national interests.
Despite criticism that some projects have taken years to progress, Marape said his government had spent the past seven years laying strong foundations rather than pursuing short-term political gains.
Using the analogy of a bamboo tree that spends years developing its roots before rapid growth, he said the government's reforms would deliver long-term benefits.
"The foundations have been laid very well. The next 20 years will be exciting for our country," he said.
Marape also encouraged local businesses to position themselves to benefit from the expansion of the resource sector, saying local participation would be critical to ensuring the country's wealth remained within Papua New Guinea.
He urged universities and training institutions to update their programs to prepare Papua New Guineans for employment in mining, petroleum and related industries.
The Prime Minister concluded by reaffirming Papua New Guinea's commitment to maintaining a stable investment climate while strengthening international partnerships to secure future markets for the country's resources.
