Mining/petroleum

Shift in demand for ‘exotic’ minerals resources could provide opportunities for Papua New Guinea

A shift in the resources industry is expected, with demand for more “exotic” minerals increasing. But Justin Smirk, Senior Economist at Westpac Institutional Bank tells Business Advantage PNG that industry players must apply a long-term and holistic approach to reap the benefits.
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Key meetings to determine timeline for rebuilding Bougainville’s Panguna copper mine

Two key events before year’s end are likely to decide the timeline for the rebuilding of the Panguna copper mine on Bougainville Island. The Chairman of Bougainville Copper Limited, Rob Burns also tells Business Advantage PNG two board appointments last month (Oct) is part of the company’s strategic development.
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Horizon Oil seeks assurance from Kumul Petroleum its Western Pipeline proposal is viable

As Horizon Oil awaits government and regulatory approval for their mid-sized Western LNG project, CEO Brent Emmett says it is considering using Kumul Petroleum’s alternative pipeline proposal, but wants assurances the pipeline is viable before committing.
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Stronger copper price a boost for Ok Tedi but further rises needed for rest of the sector

The copper price has increased by about a quarter in 2017, although it is still below its 2013 highs. Stephen Howes, Director of the Development Policy Centre at ANU tells Business Advantage PNG that the  boost in the copper price is important for Papua New Guinea, in particular, Ok Tedi.
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Oil Search share sale represents a win for Papua New Guinea, says analyst

PNG Government-owned company Kumul Petroleum Holdings has sold its 10 per cent stake in Oil Search, with KPH Managing Director Wapu Sonk reportedly saying it lost A$322 million (K812 m) on the sale. However, stockmarket analyst David Lennox says overall the country has benefited from the process.
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Papua New Guinea should target second tier cities in China, says expert

To deal effectively with China it is best to target second tier cities, David Thomas, Chief Executive of Think Global Consulting, told the Business Advantage Papua New Guinea Investment Conference in Sydney. He said the country's GDP and middle class will double in the next decade, profoundly altering the world economy.
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Increasing global battery demand will drive higher nickel & cobalt prices, predicts Highlands Pacific MD

As demand for electric cars gather pace, Papua New Guinea’s Ramu mine is perfectly placed to be a big provider of the nickel and cobalt, both essential ingredients for these hi-tech batteries. Craig Lennon, Managing Director of Highlands Pacific told the Business Advantage Papua New Guinea Investment Conference in Sydney that both commodities are hot.
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Kina overvalued and one option is to have dual exchange rate, says economist

The kina is more than 20 per cent overvalued, according to Marcel Schroder, a lecturer in economics at the Development Policy Centre in the Australian National University (ANU), speaking to a joint University of Papua New Guinea/ANU event in Port Moresby. One option is to introduce a dual exchange rate for a limited time.
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