1 Mar 2007

Vanuatu plans law to ensure fair distribution of wealth

2:58 pm on 1 March 2007

Vanuatu's Minister for Lands and Mineral Resources says the government is developing legislation that will allow fair distribution of wealth from mining resources.

Maxime Carlot Korman says Vanuatu is looking to develop its untapped mining potential and is looking to Papua New Guinea's

new mining legislation as a model framework.

On behalf of the Pacific Islands Forum, Mr Korman recently addressed the 3rd Asia Pacific Economic Cooperation Mining Ministers meeting in Perth about the key challenges to mining development in the region.

The Minister says Vanuatu will look to address these challenges in its legislation:

"In our legislation we will take into consideration the distribution between the local authority like province and local government area council, but especially also the distribution towards the landowners and communities and also by respecting the environment. So we will base on that to draft our new legislation."

Mr Korman says he will present the legislation to parliament in the middle of the year.