THE Office of the Leader of Opposition has questioned the swift move by the Democratic Coalition for Change (DCC) Government to cancel Bingtang Borneo’s prospecting license for Rennel/Bellona Province.
The statement said it was a concern that cancelling Bingtang’s license was one of DCCs top priority.
The Opposition Office said the Government’s decision to kick out Bingtang because of the issue surrounding the overlap prospecting area between Bingtang and Asia Pacific Investment Development (APID) was an internal matter that should have been sorted out internally by the ministry.
NCRA Government has agreed to grant licenses to both companies on grounds that the vast capacity of the bauxite deposit on Renbell Province was appropriate for both mining companies to operate there.
“It was agreed on the basis that two companies operating at once in Renbell will generate more revenue in return especially at a time when our country is currently facing economic woes,” the statement said.
The statement added that while the move by the Government to prioritize the termination of Bingtang looks ‘fishy’; the decision itself would also sends a bad signal to foreign investors who are vying for possible investment in Solomon Islands.
Apart from that, it said the past NCRA Government like never before has established better opportunities and closer links to the ASEAN Market and therefore such move would only jeopardize our economic investment opportunities in the ASEAN Market.
“The Government should always be upfront to protect investors that showed seriousness and create an enabling environment if we are to see economic growth. However, such decision will only discourage investors,” it said.