Friday, July 29, 2016

A Chinese firm buys 50% of Porgera Gold Mining in Papua New Guinea

By Lungu Roxi, The Enga Politics Page, Facebook (28/07 /2016)
A 50% of Porgera Gold Mine Sold to a Chinese firm for $298million – Why couldn’t Enga Provincial Government (EPG) buy it when Enga Children's Fund (ECF) is over K800million worth in market capitalization?

In the time of Michael Somare as PM, it is believed that the EPG in association with several key Porgera Landowners (PLO) deposited K50 million in an Australian bank as term deposit to secure loan for the full amount to buy off 50% of the equity from Barrick.

The K50million is believed to be taken from Mineral Resources Enga (MRE) which manages the 2.5% EPG equity and 2.5% PLO equity in the Porgera Gold Mine (PGM). From the outset it sounded a great strategic move to increase stake in the PGM for the benefit of Enga people.

During the reign of Somare, Sam Abal was the Deputy PM and Don Polye Treasurer, were the key figures in the kitchen cabinet. It was rumoured that these two Engan MPs intercepted the deal to buy the 50% shares in PGM and discovered so much rot where certain individuals were to immensely benefit from the deal at the expense of the Enga people.


By Stanley M (Former National Parliament Staff) post on PNGBLOGS
Many people were wondering this lawyer-philanthropist-come-politician has standing in the nation, worthy of the bible verses he nit-picked on Friday 22nd July to sway the support of Members to Peter O’Neill. He argued that the judiciary was unconventionally interfering with the functions of Parliament and so Parliament had to put up a similar fight.

But not many are aware of the past of Kelly Naru, a rich lawyer who was dubbed by many as a philanthropist. He dished out cash to people in need prior to becoming a politician. Was he genuinely generous or was it a vote buying bribery exercise he was carrying out prior to standing for public office? Interestingly, all those generosity ceased since he became the Governor of Morobe.

Where did Kelly Naru get all those monies from? We know lawyers do make a lot of money but we also know that some of them make money through illegitimate means like the controversial Paul Paraka.

Sunday, July 24, 2016

MRDC responds to allegations of funding the Government camp in Alotau

BY: Anonymous, PNGLOOP
10:02, July 24, 2016

The board of the Mineral Resources Development Company has slammed allegations made by Sinasina-Yongomugl MP Kerenga Kua on the FM 100 Talk Back Show last Wednesday (July 20).

“It is with much disappointment that the Board of MRDC is placed in a position where it is forced to respond to comments implying that the managing director of the Company withdrew funds, which are under trust management arrangements, for purposes of facilitating the Government’s meetings as well as the political developments in the last seven days,” MRDC said in a statement.

The Company “rejects outright the allegations made against the office of the managing director which are baseless and devoid of any truth. Furthermore, the Board reserves its right to seek legal redress for the slanderous and defamatory allegations levelled against the Company”.

Future Papua New Guineans Will Pay For O’Neill Reckless Borrowing


They get less money at more cost and this is what Peter O'Neill is doing right now. He's not mortgaging PNG's wealth, he will be destroying it.

China is a massive sea of humanity, 1.35 billion out of the total world population of 7.4 billion. Much of China's land is desert. There is a massive concentration of population along the coasts and fertile river valleys. As the population has continued to grow, land has become more short, and people struggle just to grow enough food to eat. The massive rural impoverishment has caused a spillover into urban areas. People are packed like tinned mackerel in many of the cities. They have virtually no living space and certainly will never own any land. They will never own their accommodation in most cases, unless it is a tiny little apartment where an entire family is packed. Think of how you would feel if you were forced to live under such conditions and your whole life's prospects were to continue living like a tinned fish until you die.

This situation is what creates the massive spillover effect these days of Chinese onto the rest of the world. Chinese desperately need massive amounts of natural resources as well. It has a terrible track record for environmental protection. The Chinese government, through its many resource extraction business arms, rubbish the land into what can only be called deserts. The impact can be seen everywhere, the effects of the land is intense, and one can only imagine the level of destruction that will occur when the "Chinese way" of mining, logging, doing large scale agriculture and the like is transferred over to Papua New Guinea with its steep slopes, high rainfall, and unstable, earthquake, volcano and rain punished ground. Chinese concern for workers safety is close to nonexistent in mining operations. Whenever you see people all around you like ants gathered around dropped food, it is hard to treasure an individual life compared to when you live in a low population density