PAPUA NEW GUINEA's prime minister Peter O’Neill says he won't extend the lease for the Ok Tedi mine unless there is more government oversight of its major shareholder.
Mr O'Neill has long criticised Ok Tedi's major shareholder, the Singapore-based charitable trust PNG Sustainable Development Program (PNGDSP).
He has accused the trust of failing to live up to its mandate to use the mine's dividends to promote development in PNG.
The mine's lease is due to expire later this year and Mr O'Neill has told parliament he won't agree to extend it to 2022 under the current arrangements.
"This partnership is not working. Like any marriage that is not working there must be a time for divorce," he said.
Mr O'Neill says the government should have more oversight of PNGSDP, and he wants to restructure its board to include more Papua New Guineans.