Commodities prices have been sold off heavily over the past week on worries that the global economy will slow. What does this mean for Papua New Guinea’s agricultural producers?
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The latest business news from Papua New Guinea and the region
Market reaction to the proposed move to make New Britain Palm Oil Limited (NBPOL) a subsidiary of Malaysian company Kulim (Malaysia) Berhad has been generally positive, although one observer questions why PNG-based investors aren’t taking advantage of the fall in NBPOL’s share price.
The newly-appointed head of the Bougainville landowners group is cautiously optimistic that work to re-open the giant Panguna copper and gold mine could begin within two years.
Cloudy Bay Sustainable Forestry Ltd has achieved another milestone in its drive for sustainable development with the certification by the Forest Stewardship Council (FSC) for responsible forestry management.
Papua New Guinea’s currency, the kina, has lost around eight percent of its value against the US dollar over the past 12 months. What does this mean for business?
Just over one third of Papua New Guinea’s logging exports in 2012 came from Special Agricultural and Business Leases, the majority of which may not have received approval from customary landowners, according to analysis by Paul Barker, Director of the Institute of National Affairs.
In what is believed to be a first for Papua New Guinea, Lihir Island landowners will have access to a new lending scheme to finance their small businesses and help foster economic development on the island.
Lae is set to become the South Pacific’s main fish processing centre, with the opening of one massive new cannery this week, the commencement of construction for another, with more on the drawing board.
Newcrest Mining has revealed it is aiming to ‘simplify’ operations at the Lihir and Hidden Valley gold mines in Papua New Guinea, after writing down the value of its mines in PNG, Australia and Africa by AUD$6 billion (K12.6 billion).
Papua New Guinea Sustainable Development Program Ltd appears to be resigned to losing its main asset, the Ok Tedi mine, to the PNG Government. What are the implications if the takeover goes ahead?