Newcrest Mining has revealed it is aiming to ‘simplify’ operations at the Lihir and Hidden Valley gold mines in Papua New Guinea, after writing down the value of its mines in PNG, Australia and Africa by AUD$6 billion (K12.6 billion).
Tuesday, June 11, 2013
Time magazine looks at PNG’s sorcery killings, the Wall street looks at ExxonMobil’s ‘PNG gas grab’, submarine cables link Tonga and Vanuatu to Fiji and new PNG investment in Samoa.
Papua New Guinea Sustainable Development Program Ltd appears to be resigned to losing its main asset, the Ok Tedi mine, to the PNG Government. What are the implications if the takeover goes ahead?