The Parliamentary Opposition has questioned the move by the Democratic Coalition for Change Government to cancel Bingtang Borneo’s prospecting license in Rennell and Bellona Province.
A statement from the Opposition said it is a concern that canceling Bingtang’s license was one of DCC’s top priority.
The Opposition 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 responsible ministry.
It said this was because the last government has agreed to grant licenses to both companies on the basis that the vast capacity of the bauxite deposit on Rennell and Bellona Province was appropriate for both mining companies to operate there.
Meanwhile, the statement said NCRA agreed then that the two companies operate at the same time on Rennell and Bellona would generate more revenue in return especially when our country faces economic woes.
It adds while the Government’s move to prioritize the termination of Bingtang looks ‘fishy’, the decision itself would also indicate wrong signals to foreign investors who are vying for possible investment in Solomon Islands.
The statement said the last government 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.
It said the government should always be up front to protect investors that showed the seriousness and create a conducive environment for economic growth.