9 December 2016
Source: Post Courier, via Papua New Guinea Mine Watch
Author: Rosalyn Albaniel
THE Pacific’s two largest fisheries blocs – the Pacific Islands Fisheries Forum Agency and Parties the Nauru Agreement – are treating the issue of experimental seabed mining cautiously.
Pacific waters are home to the world’s largest fishery currently accounting for around 56 per cent of the global supply of tuna.
The dilemma the region faces is that those same waters will also be hosting the world’s first ever copper-gold project.
Papua New Guinea heavily relies on its extractive industry and the progress of the Solwara 1 project, now under development in its territorial waters, will mean added revenue to its national coffers while also much needed foreign exchange [will it? where is the evidence for this?].