Given the delicate state of Papua New Guinea’s economy, as indicated by recent World Bank and Asian Development Bank forecasts, the news last month that the final legislative hurdle for the Papua LNG project had been delivered is welcome.
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Papua New Guinea is ranked as the tenth worst destination for investment in mining, according to the Fraser Institute’s Survey of Mining Companies 2020. Infrastructure and security were nominated as areas of particular concern.
Mayur Resources’ mineral sands project at Orokolo Bay, Gulf Province, is close to commencing according to Managing Director Paul Mulder. He highlights the opportunities to Business Advantage PNG.
Two weeks of national mourning declared after Papua New Guinea’s longest-serving Prime Minister Michael Somare passed away, Ihu Special Economic Zone enters second phase of development and PNG’s exports to China.
Papua New Guinea has been dealing with a ’triple crisis’, according to Ilyas Sarsenov, Country Economist for the World Bank in PNG. Speaking at a Business Advantage PNG online briefing, he said that the economy has fallen well below previous growth forecasts.
New director joins Oil Search board.
With the death of Grand Chief Sir Michael Somare – the man who led Papua New Guinea to independence in 1975 and became Papua New Guinea’s longest-serving member of parliament – the Pacific has lost one of its most prominent and respected leaders.
The Acting Chairman of the Securities Commission Alex Tongayu has issued an order that a new levy will be applied to all transactions on the PNGX, Papua New Guinea’s stock market. It has raised concerns that it will impede the growth of the country’s capital markets.
St Barbara Ltd welcomes a new General Manager and UNICEF appoints a new representative for its Children’s Emergency Fund in Papua New Guinea.
Newcrest Mining says it can ‘unlock significant value’ at Lihir, Papua New Guinea’s biggest gold mine. David James takes a closer look at a mine forecast to produce over a million ounces a year.