	papua new guinea plans resources investment agency the papua new guinea government will establish a public corporation to invest in resources projects minerals and energy minister john kaputin said we intend to provide a means through which less privileged individuals can become part owners and beneficiaries from the development of mining and petroleum projects he told parliament existing policy allowing the state up to pct equity in major mining projects and pct in oil and gas projects would be maintained he said the planned agency could take over the state s equity in current developments kaputin said papua new guinea was experiencing a boom with exploration companies spending about mln kina annually on about mining and petroleum projects the government is determined to ensure that papua new guinean ownership in minerals and petroleum projects increases in an orderly way he said kaputin did not say when the corporation would be established or exactly what form it would take but said the government would study whether it should be directly involved in exploration or development reuter 
