SYDNEY, Aug. 28 (Xinhua) -- APEC mining week in Papua New Guinea (PNG) has closed with experts giving praise to the host's materials industry, and urging other APEC economies to learn from their example, local media reported on Tuesday.

In a keynote address to the forum, mining expert John Strongman congratulated PNG on their world-class mines and their development process, which offers early and ongoing consultation with all stakeholders.

During the meeting, mining industry representatives also stressed the importance of stable and predictable mining legislation in attracting investment.

"We look at the fiscal and regulatory processes when deciding to invest and whether the mining regulation is likely to change or not," said David Forestell, vice president corporate affairs of Barrick Gold Corporation.

The socio-economic benefits of a healthy mining industry were highlighted too, with APEC economies such as Australia and Canada given as examples of how mining can drive broad-based economic growth.

"Investing in the social development and prosperity of our host communities is in in our interest because it provides a stable basis for future investment," said Ian Kemish, executive general manager, public affairs and social performance for Newcrest Mining Limited.

"But also because mining companies are made up of human beings, who want their projects to deliver benefits of real and lasting value."