Newmont Corporation’s Tom Palmer tells Business Advantage PNG that Papua New Guinea fits well within company’s strategy, but cautions that the prospective Wafi-Golpu copper-gold project will need to compete for capital with other projects in portfolio.
The Porgera gold mine is operating without restrictions, following the tragic Papua New Guinea landslide which hit nearby. Meanwhile, New Porgera Limited and other PNG businesses are contributing to relief efforts, reports Nadav Shemer Shlezinger.
PNG banks and businesses tell Business Advantage PNG of considerable variation in wait times for foreign exchange, as the country’s central bank acknowledges the economic damage caused. We look at the prospects for improvement.
Despite positive growth forecasts for PNG from key lenders, the Asian Development Bank and World Bank, there are warnings that energy reforms are urgently needed to improve economic prospects. We take a closer look at the numbers.