Mining/petroleum

MRA executive calls for better protection of mining tenements in Papua New Guinea

The next decade could be a ‘golden’ one for the mining sector, believes Roger Gunson, Executive Manager, Regulatory Operations at the Mineral Resources Authority. But he has called for changes to Papua New Guinea's government policy to better protect mining tenements.
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O’Neill tells Papua New Guinea resources sector there will be no new taxes

Papua New Guinea's Prime Minister, Peter O’Neill, told the PNG Mining and Petroleum Conference yesterday that there would be no new taxes for the resources sector. Meanwhile, presentations by the major industry players suggest the next 12 months will be critical in determining the future growth of the sector.
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Oil and gas prices strong: a monthly review of Papua New Guinea’s commodities and financial markets

Oil and gas prices are up and copper is also strong. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets comes to you from this week's PNG Mining and Petroleum Conference in Port Moresby.
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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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