Latest news

Perth-based explorer Kalia Ltd has begun geological surveys on its two licence areas, after winning exploration licences under the new Bougainville Mining Act. Managing Director Terry Larkan tells Business Advantage PNG that, while the licence areas’ resources are unknown, the licences have ‘the right address’.

The long commodity bear market is coming to an end, according to Richard Yetsenga, Chief Economist for the ANZ Banking Group. He also observes that, in a world growing more sceptical about globalisation, there is growing competition for foreign direct investment.

Conducting stevedoring transactions in US dollars instead of kina is an opportunity to get in much-needed foreign exchange, according to Ted Muttiah, Director, Asia Pacific, for ICTSI South Pacific. He tells Business Advantage PNG the company, which has been appointed to manage new ports at Motukea and Lae, is aiming high.

A report on the state of the Papua New Guinea economy by the International Monetary Fund (IMF) says the Government has taken some ‘bold steps’ in its economic management. But it contends that the challenges are considerable and would be best managed with an ‘active’ approach to macroeconomic management.

Chris Hawkins, Chief Executive Officer of the APEC PNG Co-ordination Authority believes sceptics about Papua New Guinea’s ability to host APEC will be proven wrong. The policy areas that will be emphasized are improving connectivity, creating sustainable and inclusive growth, and implementing structural reform.

Treasury Minister outlines details of US$500 million loan deal, World Bank commends 2018 Budget, crucial meeting over the future of BCL’s exploration licence. Your weekly digest of the latest business news.  

The commercial potential of PNG’s galip nut could soon be realised. Helen Wallace, Project Leader at the Transformative Agriculture and Enterprise Development program tells Business Advantage PNG that the strong growth in the nut industry indicates it is the right time to develop the sector.

The CEO of Mainland Holdings wants a national register of landowners willing to lease their land or grow crops on their property. David Alcock has also outlined his company’s plans to boost feedstock for poultry and pigs, to reduce costs and save foreign exchang

Could Papua New Guinea Government bonds and treasury bills soon be purchased anywhere in the world with the click of a button? A new working group aims to look at ways to modernise the way the country raises money.

The Managing Director of PanAust, Fred Hess, has announced a rethink on the company’s proposed Frieda River mine project. ‘It is no longer just a mining project’—it is a development project for the Sandaun and Sepik provinces, he told the Papua New Guinea Mining and Petroleum Conference in Port Moresby.