Australian miner Geopacific Resources has secured funding to develop the gold mine on Papua New Guinea’s Woodlark Island in Papua New Guinea’s Milne Bay Province. Business Advantage PNG spoke exclusively to Chairman Ian Clyne and CEO Tim Richards about their expectations for the project.
BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.
Potential new owner for the Yandera copper project, proposed levy for balsa wood and BSP Financial Group halts trading on the ASX amidst accusations of breaches to anti-money laundering laws. The business news in brief.
Registrations are now officially open for the 2021 Business Advantage Papua New Guinea Investment Conference and the provisional program has been released. The digital conference will take place from 7 to 9 September 2021.
Deloitte PNG announces the names of its two new partners, Credit Corp’s Chief Risk Officer bids adieu, changes to Steamships board and new board appointed for the Coffee Corporation Industry.
PNG Ports announced a K1.1 billion partnership with Australia for maritime infrastructure, Geopacific Resources gets funding for Woodlark Island gold mine and new training program for SMEs. The business news in brief.
Vaccination against COVID-19 will now be a requirement for many travellers, after stricter new rules were released last week in Papua New Guinea to tackle the more dangerous Delta strain of the virus. Here’s a summary of the new requirements.
The World Bank has approved US$100 million (K352 million) in concessional funding to support Papua New Guinea in its response to COVID-19, and ‘lay important foundations for a sustainable recovery’. The funding will not be without risk, however.
PNG Power workers protest lack of consultation and transparency, China delivers 200,000 doses of the Sinopharma vaccine to Papua New Guinea and Kina Asset Management Limited presents its annual report.
PNG Power Managing Director resigns, Credit Corporation PNG announces changes to its board, new appointment at PNG Defence Force, changes at Oil Search board, Newcrest Mining welcomes a new Director and Paradise Group CEO steps down.