Oil Search back trading on PNGX, new wholesale internet prices coming and ambitions plans for PNG’s cocoa industry. Your latest summary of the business news you need to know.
News
CloudCover targets growth in SE Asia, China’s Pacific investment takes a dive, and foreign workers re-examined. Readings from around the world on business, leadership and management.
Papua New Guinea’s National Court has granted Barrick Niugini leave for a review of the decision not to extend the Special Mining Lease for the Porgera gold mine. Related disputes have also arisen, and the Prime Minister has flagged ‘minor amendments’ to PNG’s Mining Act.
CEO of Geopacific Resources stands down.
Oil Search, Papua New Guinea’s biggest company, has been suspended from trading on PNGX, the country’s stock exchange, amidst claims that it did not follow proper procedure in its recent capital raising – claims the company is refuting.
Changes in the global food industry may be a good thing, new models required to fund infrastructure post-COVID-19, and lessons from extremely remote jobs. Readings from around the world on business, leadership and management.
Parliament has voted to extend Papua New Guinea’s state of emergency by two weeks while it debates how the country will look when the restrictions are eventually eased.
Bank South Pacific (BSP) appoints a Group Chief Financial Officer, Nasfund welcomes a Chief Officer Members Services, Coca-Cola Amatil gets a new Group CFO, an Acting Director for Legal Training Institute, Ok Tedi Mining appoints a new head and Kumul Mineral Holdings elects a Chairman and Acting Managing Director.
Papua New Guinea’s Prime Minister, James Marape, talks about the delays in resources projects, Air Niugini through its subsidiary Link PNG could purchase up to 60 per cent of shares in PNG Air and K113,000,000 from the COVID-19 stimulus package will be used to improve food security and strengthen agriculture production.
Papua New Guinea’s government is coming under intense pressure to renegotiate the Special Mining Lease for the Porgera gold mine, which it refused to extend in April. Multiple industry bodies have urged the government to urgently negotiate with the mine’s joint venture operators, Barrick Gold and Zijin Mining, pointing to extreme economic stress.