In brief: Vote on revised InterOil takeover bid in February, and other business stories

InterOil shareholders to vote on revised takeover bid by ExxonMobil in February, government debt rises in September quarter, Oil Search and Kumul Energy to evaluate proposed power projects. Your weekly digest of the latest business news.
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Signs of real recovery as big money shows interest in large resource projects

Sovereign wealth funds, private equity and ‘mega-families’ are showing a growing interest in investing in large resource projects, according to Graham Smith, Global Leader Mining M&A at KPMG Corporate Finance in Australia. The PNG Mining and Petroleum Investment conference was told that investment, debt and equity markets are showing signs of improvement.
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Papua New Guinea’s Frieda River project still faces obstacles, says Managing Director Fred Hess

PanAust is keen to start development of the Frieda River copper gold project, Managing Director Fred Hess told the PNG Mining and Petroleum Investment Conference in Sydney. But he warns there are many obstacles to establishing a mine in such a remote region of Papua New Guinea and the decision has not yet been made to go ahead.
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In brief: Supplementary Budget in January to address tax measures, and other business stories

Treasurer says Supplementary Budget will review tax measures proposed in the 2017 Budget, sufficient geothermal power in PNG for years to come, and Philippines asked to ban fishing companies operating in PNG. Your weekly digest.
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Mining Act decision to be postponed until after election says Peter O’Neill

The Prime Minister, Peter O’Neill, has told the Mining and Petroleum Investment Conference in Sydney that there will be no decision on the Mining Act until after next election. He also indicated that the Government will pursue bi-lateral trade deals.
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Total aiming to start Papua LNG production in 2022/23, says Blanchard

Philippe Blanchard, Managing Director of Total E&P PNG – operator of the Papua LNG project – tells Business Advantage PNG that production for the project is expected to begin in 2022/2023. He says Total is using local labour and companies as much as possible.
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