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In brief: Ok Tedi mine may resume operations in March, and other business stories

20 Jan 2016 by
The Ok Tedi mine expected to start again in March, the US formally withdraws from fishing treaty, and unions call on government to honour superannuation commitments. Your weekly digest of the latest business news.
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Power outages in Papua New Guinea’s three main grids the result of inadequate maintenance, not installed capacity: review

13 Jan 2016 by 4 Comments
An analysis of Papua New Guinea's three main power grids has revealed that inadequate maintenance of plants and the transmission lines is the primary cause of frequent power outages, according to a review conducting by London-based consultants, Economic Consulting Associates. The review also comes with some recommendations.
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In brief: O’Neill says Papua New Guinea government has no interest in owning Panguna mine, and other business stories

13 Jan 2016 by Leave a Comment
O'Neill not interested in buying Rio Tinto's 53% of Bougainville Copper Limited, central bank governor warns government to restrain spending, and kina falls against most currencies in September quarter. Your weekly digest of the latest business news.
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First ‘Bougainville Bar’ chocolate goes on sale in NZ, as quality of Papua New Guinea cocoa recognised

6 Jan 2016 by 2 Comments
A new ‘Bougainville Bar’ has gone on sale in New Zealand this month, marking an increased awareness by international chocolate makers of Papua New Guinea's high quality cocoa. As Business Advantage PNG discovers, the project was made possible through a very modern form of capital raising: crowdfunding.
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Ramu 2 hydropower one of five renewable power projects to boost Papua New Guinea power generation

17 Dec 2015 by 1 Comment
The Ramu 2 Hydro Power Project is expected to increase total electricity generation capacity in Papua New Guinea by 36%, according to the Managing Director of Kumul Consolidated Holdings, Garry Hersey. It's one of five new energy projects launched recently.
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Key meeting this week to agree on Action Plan to boost major Papua New Guinea power grids

9 Dec 2015 by Leave a Comment
Hopes are high that an action plan to resolve the problems facing Papua New Guinea’s three main power grids will be endorsed at a key stakeholders’ meeting in Port Moresby this week, according to Gavin Murray, the International Finance Corporation's (IFC) Country Manager for the Pacific region.
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Restructure will see 25% reduction of Ok Tedi staff and switch to ‘fly in-fly out’ operation at Papua New Guinea mine

9 Dec 2015 by 3 Comments
PNG’s state-owned mine is undergoing a radical restructuring which will result in a 25% workforce cut and see the company move to a Fly-In, Fly-Out operation, says Managing Director and CEO, Peter Graham.
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In brief: Oil Search fends off takeover offer after Woodside shelves bid, and other business stories

9 Dec 2015 by Leave a Comment
Woodside drops takeover bid for Oil Search, coffee pulper machine installed for smallholders in Jiwaka Province, and market conditions force Hides Gas Development Company to cut workforce. Your weekly digest of the latest business news.
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Relief in sight for Papua New Guinea businesses wanting foreign exchange, says BSP CEO

9 Dec 2015 by Leave a Comment
There is some relief ahead for businesses struggling to access foreign exchange, according to the CEO of the country’s biggest bank, BSP. Robin Fleming says investment in the mining and petroleum sector and a new Sovereign Bond are the keys to boosting foreign exchange inflows.
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2016 will bring pressure on Papua New Guinea government finances and currency, says Asian Development Bank

2 Dec 2015 by Leave a Comment
Papua New Guinea will find itself in a tight fiscal situation in 2016, according to the latest analysis by the Asian Development Bank's economists. While more efficient public spending could yield large savings, they suggest more may need to be done to arrest the downward pressure on the currency.
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