The latest closure of the Ok Tedi mine reminds us that disruptions at major mining operations in Papua New Guinea are nothing new. While the closure is undoubtedly a setback, Business Advantage PNG’s survey of PNG’s other major mines suggests prospects for the mining sector are more positive.
A new CEO at the Independent Consumer and Competition Commission, and a new General Manager—Projects, at the IPBC.
More high-quality exports needed for PNG, new approaches will assist PNG in meeting energy demand, and Japan’s Pan Pacific expects copper recovery. Your weekly digest of the latest business news.
The 30 per cent jump in the value of Kina Securities when it listed jointly on the Australian Securities Exchange and the Port Moresby Stock Exchange last Thursday ‘exceeded our expectations’, Chief Executive Officer Syd Yates tells Business Advantage PNG.
The El Nino weather pattern which has seen the temporary closure of the Ok Tedi mine could potentially last for up to a year, according to former senior PNG agriculture business executive, Bob Hansen, adding the loss of mining income could be as much as K2.77 billion a year.
New Directors at Newcrest, a new Chairman at Melanesian Trustee Services, and a new Chairman and interim Managing Director at New Guinea Energy
Treasury says Deficit rises to 9.4% of GDP, foreign advisers ban, and parliament passes Sovereign Wealth Fund bill. Your weekly digest of the latest business news.
A drilling campaign covering 1.5 km in the Gulf region has revealed there is enough high quality coal to run a 50-megawatt power station for 30 years, according to Paul Mulder, CEO of Brisbane-based unlisted miner, Mayur Resources.
Vanuatu’s Reserve Bank rejects sale of Westpac Vanuatu to BSP, Airlines PNG invited to fly into Samoa and ‘show cause’ notice issued over slow progress of new Lae highway. Your weekly digest of the latest business news.
Australian High Commissioner leaves Papua New Guinea and a new Country Manager for Maersk Line.