Albany, NY -- (SBWIRE) -- 07/20/2016 -- Papua New Guinean Mining fiscal regime report outlines the governing bodies, governing laws, licenses, rights and obligations and tax-related information on five commodities: copper, gold, silver, nickel and zinc.

Timetric's fiscal regime report covers Papua New Guinea which 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 the country. The Mining Act 1992 is the apex law for the mining industry.

Scope

The report outlines the governing bodies, laws, mining licenses and key fiscal terms which includes royalty, development levy, corporate tax, withholding tax, stamp duty, tax incentives, loss carry forward, capital and exploration expenditure-allowable deductions and goods and service tax (GST).

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Key Highlights

- The Mineral Resources Authority (MRA) 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 Geological Survey Division (GSD) is carries out earth sciences research and studies, and processes field data to assist and promote exploration, geological and related activities in the mineral sector.

- The Papua New Guinea Chamber of Mines and Petroleum is an association for the mining and petroleum industries in Papua New Guinea. It currently has approximately 200 members from both industries, which it helps and promotes through the implementation of various programs.

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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

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