The latest business news from Papua New Guinea and the region
Peter Botten, Managing Director of Oil Search tells Business Advantage PNG that the company’s Papua New Guinea assets are ‘highly profitable’ despite the low prices. He says the company is focusing on developing a five year plan for ensuring sustainability, managing exploration and working with the community.
BCL talks with Bougainville government and landowners about re-opening Panguna, investors confident in PNG despite low global energy prices, and improvements on the way for Jacksons Airport. Your weekly digest of the latest business news.
Government plans to merge Telikom, bmobile and DataCo, Highlands Pacific Chairman says PanAust’s resignation requests amount to a takeover, and PNG LNG reports 25% increase in LNG. Your weekly digest of the latest business news.
The big mover this month was palm oil, which was up 20.5 per cent for the month according to Kina Securities. Oil prices have continued to hold up but LNG prices have eased. Business Advantage PNG’s monthly overview of commodity and financial markets.
InterOil shareholders have overwhelmingly approved a revised takeover bid from ExxonMobil, despite opposition from InterOil founder, Phil Mulacek.
Dual citizenship almost a reality, Wereh outlines the impact of climate change on road design and funding, and the cost to business of family violence revealed. Your weekly digest of the latest business news.
The Chief Executive of Papua New Guinea’s Ok Tedi mine, Peter Graham, tells Business Advantage PNG that the company is now in the top quartile of global copper producers. He says revised company estimates indicate the mine—for many years one of PNG’s major sources of foreign exchange—should have a longer life.
The IMF’s report on Papua New Guinea has suggested that the PNG Government has responded to pressures on the budget and foreign exchange shortages. But it says that more attention should be given to the deals offered to foreign mining companies.
‘More jobs to go’ warning if business continue to rationalise, O’Neill says $S300m loan to be used foreign exchange, Australia funding APEC 2018 to fend off China. Your weekly digest of the latest business news.
K92 Mining is preparing for its first export of gold concentrate from Kainantu mine and plans to ramp up to full production around April this year, company Chief Operating Officer, John Lewins tells Business Advantage PNG.