Papua New Guinea’s Mineral Resource Authority has ordered the indefinite closure of Ramu Nickel processing plant operations after it failed to comply with 16 remedial measures issued following a slurry spill into Basamuk Bay on August 24.
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The latest business news from Papua New Guinea and the region
PNGX to launch six indices, Oil Search reports sluggish third quarter results, and Geopacific Resources on track to fund Woodlark. Your weekly digest of business news.
On 8 November, hundreds of delegates from business, government and the education/training sector will arrive at the Stanley Hotel, Port Moresby, for Innovation PNG 2019, Papua New Guinea’s inaugural innovation conference. We preview what’s in store.
Parliament passes Papua LNG Project Amendments Bills, the Minister for Petroleum announces that the P’nyang gas field project will be a standalone project, and Twinza Oil says it expects the first production of liquids from the Pasca A condensate gas field by 2022. Your weekly digest of business news.
Prime Minister James Marape has outlined a two-pronged economic strategy to boost Papua New Guinea’s economy. He has also commented on the government’s attempts to manage the country’s rising debt, reports David James.
The writ has been issued and postal voting has commenced ahead of the long-awaited referendum on independence for the Autonomous Region of Bougainville. Here are nine things you should know about the referendum.
The Papua New Guinea government has brought down a supplementary Budget to address what it described as a ‘record budget deficit.’ The Minister for Treasury, Ian Ling-Stuckey, claimed it is necessary to get the Budget within sound fiscal limits.
Kumul Petroleum Holding Limited has been asked to cease exploration, drilling and greenfield investments, the World Bank has released an economic update signalling economic slowdown in Asian and Pacific economies, and K92 Mining has released its Q3 results above budget. Your weekly digest of business news.
Ahead of this week’s expected Supplementary Budget, the Bank of Papua New Guinea’s September Monetary Policy Statement points to continued financial pressures, despite a strong trade performance. David James considers what it means for foreign exchange and domestic demand.
After the government’s endorsement of the Papua LNG Gas Agreement in September, attention has shifted to achieving a deal for the P’nyang gas project. Its developers see its pending approval as a prerequisite for the commencement of Papua LNG.