COVID-19 forces Papua New Guinea’s Ok Tedi Mining to shut operations, PNG Biomass Project decision due in later this year and Mendi Airport completion expected in October. Your business news summarised.
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The latest business news from Papua New Guinea and the region
The Australia government is suspending passenger flights from Papua New Guinea to Cairns, one of a number of measures that will impact business travel between the two countries. Meanwhile, PNG is getting ready for further COVID-19 mitigation measures.
Credit Corporation, NGIP Agmark and Kina Asset Management release their 2020 financial year results. The latest business news in brief.
Bank South Pacific signals intention to achieve dual listing, National Fisheries Authority gets ready to launch its 10-year plan and Papua New Guinea says farewell to its founding father.
The delaying of negotiations over ExxonMobil’s proposed plan to develop the P’nyang gas field has led analyst Fitch Solutions to downgrade Papua New Guinea’s LNG export projections.
Now is the time to focus on restarting foreign investment in Papua New Guinea, says Clarence Hoot, Managing Director of the country’s Investment Promotion Authority. He tells Business Advantage PNG the IPA’s priorities for the year ahead, which include getting new foreign investment laws through Parliament.
Bank South Pacific has just announced its 2020 financial results amid tough trading conditions. CEO Robin Fleming talks to us about the bank’s plans for 2021, foreign exchange shortages, and the need for greater competition.
The recent spike in COVID-19 cases in Papua New Guinea has emphasized the need for COVID-19 vaccines in the country – and the first shipment of AstraZeneca (Oxford) vaccines is expected as early as this month.
Ok Tedi Mining suspends flight to Australia after three miners tested positive to COVID-19, Papua New Guinea continues to battle surge in COVID cases and National Fisheries Authority signs agreement for Daru fishery.
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.