Global mining major needed to re-open Bougainville’s Panguna copper mine?

Funding the re-opening of the Panguna copper mine is a key concern for a newly-formed Joint Committee of landowners, BCL and governments, says Bougainville Governor, John Momis. Independent analysts believe it is likely to come from one of the global mining majors.

In brief: Second mining company in play to revive Panguna copper mine, and other business stories

Australian miner with links to Bougainville landowners bids to restart Panguna, research into boosting tourism in East New Britain and Milne Bay, and ABAC prepares paper on life after mining projects. Your weekly digest of the latest business news.

In Brief: More than 3000 candidates vie for parliament, and other business stories

Over three thousand nominate for 2017 national elections, the moratorium on mining exploration in Bougainville is lifted, and cocoa farmers receive grants. Your weekly digest of the latest business news.

In brief: Government to buy 20 per cent shareholding in Port Moresby hotel complex, and other business stories

Government to spend K300 million buying into Star Mountain Plaza project, Bougainville President supports new-look BCL, and Trade Minister seeks ban on Fiji imports. Your weekly digest of the latest business news.

What is stopping Papua New Guinea’s Panguna mine from re-opening?

The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.

Autonomous Bougainville Government likely to take up extra shares in BCL, says Momis

The Autonomous Bougainville Government (ABG) says it is likely to put exploration licences out to international tender as a first step towards restarting the K177 billion Panguna gold and copper mine. Governor John Momis tells Business Advantage PNG he expects the ABG to take up Rio Tinto’s offer of shares, claiming that the national government should pass on the shares it was given by Rio to the ABG.

In brief: Pacific Marine Industrial Zone gets the go ahead, and other business stories

Government tells Chinese company to start building Madang’s Pacific Marine Industrial Zone, new Tourism Minister unimpressed with Tourism Promotion Authority and second LNG ship is named Kumul. Your weekly digest of the latest business news.

Review: Julius Chan autobiography ‘Playing the Game’

The Bougainville conflict, which lasted from 1988-1998, was critical to defining how sovereign risk was perceived in Papua New Guinea. Former PNG Prime Minister, Sir Julius Chan, knew that keeping the island was vital both for the PNG economy and the nation’s status as an investment destination. He reflects on the extraordinary events in his autobiography.

People moves: Ramu Agri Industries, Autonomous Bougainville Government

Ramu Agri GM moves to Sime Darby, and Autonomous Bougainville Government appoints Ministers.

In brief: Business endorses new Papua New Guinea police chief, and other business stories

Business endorses new Police Commissioner, Kumul Flyover opens, and Oil Search chief says low prices are here to stay. Your weekly digest of the latest business news.