BSP CEO says second COVID wave will impact PNG’s economic recovery, disappointing formal employment figures and Facebook acts on vaccine misinformation. Your business news in brief.
News
The Porgera gold mine in Enga Prince looks set to reopen later this year after the Papua New Guinea Government and mine operator Barrick Gold reached a ‘binding framework agreement’ to share future benefits from the mine and boost local ownership.
The Governor of Bank of Papua New Guinea has forecast a recovery for the country’s economy of 2.5 per cent after the sharp contraction of 2020. But he says the national budget and PNG’s foreign exchange reserves will remain under pressure.
Ok Tedi Mining Ltd (OTML) announces changes to its management team.
Prime Minister Marape says government is ‘poised to sign’ a deal to reopen the Porgera mine, World Bank to help PNG Power and OK Tedi Mining resumes operations.
Papua New Guinea took a step closer to resolving a significant governance issue related to its stock exchange, PNGX, following a National Court ruling late last month. However, uncertainty continues to hold back PNG’s capital markets, reports David James.
Oil Search is a key partner in the next wave of gas projects in Papua New Guinea but has faced a tough year. Business Advantage PNG speaks with Managing Director Dr Keiran Wulff on the company’s future in PNG and the rich potential of its gas reserves.
Communications Minister confident in a new telco by year-end, the ICCC initiates review of Kina’s takeover of Westpac, and Ok Tedi Mining pledges K10 million in COVID-19 relief. Your business news in brief.
The COVID-19 pandemic has had a mixed impact on Lae-based manufacturer, KK Kingston. Chief Executive Michael Kingston reflects on how the company has handled a ‘black swan’ event that was impossible to anticipate.
The PNG Chamber of Mines and Petroleum pledges to join help with COVID-19 efforts, news on the Simberi gold mine revised MOA and a new report highlights strategies to help the coffee industry. Your business news in brief.