Ross Garnaut resigns as Chairman of OK Tedi

Papua New Guinea's ban on Australian economist, Professor Ross Garnaut, has forced Mr Garnaut to resign as Chairman of one of PNG's biggest companies.

Professor Garnaut has resigned as Chairman of Ok Tedi Mining Ltd saying it is not possible for him to fulfil his responsibilities to this large and complex company while the PNG government maintains its ban on his travelling to the country.

The ban was imposed in September after BHP Billiton refused to comply with Prime Minister Peter O'Neill's demand to renegotiate its agreement governing control of Ok Tedi's major shareholder, PNG Sustainable Development Ltd, a $1.4 billion charitable trust set up for the benefit of Papua New Guineans.

Professor Garnaut's resignation takes effect immediately, bringing an end to his last official role in PNG after an association of 47 years.

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