Articles by David James

Oil and gas prices recover: our monthly review of Papua New Guinea’s commodities and financial markets

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Oil and LNG prices have recovered to some extent and copper has also bounced back. Palm oil prices have strengthened but cocoa is weaker. Business Advantage PNG’s monthly overview of commodity and financial markets.

Tools down: Papua New Guinea’s Porgera gold mine starts sacking workers

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Barrick Niugini, the majority owner and operator of the Porgera gold mine, has announced that it will be retrenching most of its workforce over the coming weeks. Meanwhile, Papua New Guinea’s government seems intent of finding a new operator for the mine.

Very resourceful: how K92 Mining has thrived during COVID-19 in Papua New Guinea

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Mining companies in Papua New Guinea have been able to keep operating during the COVID-19 crisis. John Lewins, Chief Executive Officer and Director of K92 Mining, says his company actually ‘set records’.

Amendments to Papua New Guinea’s Mining Act provide for State to take a more active role

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Amendments to the Mining Act 1992 have been passed in parliament, with Mining Minister Johnson Tuke explaining it is a step towards ‘taking back’ Papua New Guinea. Meanwhile, industry representatives have expressed some deep concerns.

Oil change: Marape to alter Papua New Guinea’s oil and gas legislation

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Prime Minister James Marape has introduced changes to Papua New Guinea’s oil and gas law, claiming it will benefit the country’s ‘national interest’. The changes may well represent a major shift in the way projects are developed in the future.

Analysis: Can Papua New Guinea avoid the COVID-19 debt trap?

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Dodging the debt trap: Papua New Guinea’s government must be cautious with COVID-19 spending

Porgera: Barrick can challenge decision to end mining lease

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Papua New Guinea’s National Court has granted Barrick Niugini leave for a review of the decision not to extend the Special Mining Lease for the Porgera gold mine. Related disputes have also arisen, and the Prime Minister has flagged ‘minor amendments’ to PNG’s Mining Act.

Reconsidering Porgera: Papua New Guinea’s industry bodies urge government to negotiate

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Papua New Guinea’s government is coming under intense pressure to renegotiate the Special Mining Lease for the Porgera gold mine, which it refused to extend in April. Multiple industry bodies have urged the government to urgently negotiate with the mine’s joint venture operators, Barrick Gold and Zijin Mining, pointing to extreme economic stress.

Oil rebounds, LNG stabilises and palm oil up: our monthly review of Papua New Guinea’s commodities and financial markets

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The oil price has been extremely weak but the fall in LNG prices has stabilised and palm oil is up: a monthly review of Papua New Guinea’s commodities and financial markets. Business Advantage PNG’s monthly overview of commodity and financial markets.

Going strong but for how long? Ok Tedi Mining announces strong profits and dividends

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Ok Tedi Mining has announced strong profits and dividends – important because it accounts for over four per cent of Papua New Guinea’s economy. But the future of the company, which has new shareholders, will depend on finding new reserves beyond the Ok Tedi mine’s projected six-year mine life.