Mining/petroleum

Papua New Guinea’s mining sector concerned about revised Mining Act

There is growing concern in Papua New Guinea’s mining industry that changes to the Mining Act will discourage investment in the sector. The Executive Director of the PNG Chamber of Mines and Petroleum, Professor Albert Mellam, has said the mining sector is ‘strongly opposed’ to the revised Act.
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Security situation a ‘setback’ for business in Southern Highlands Province, says Chamber of Commerce President

Berry Mini, President of the Southern Highlands Chamber of Commerce, told Business Advantage PNG last Friday that there is an increased security presence in Mendi, particularly in front of key commercial and government buildings. The state of emergency is also affecting earthquake recovery supplies.
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Wafi Golpu mine would be good for the wider Papua New Guinea economy, says executive

The proposed Wafi Golpu mine will contribute to the diversification of Papua New Guinea’s economy, according to Craig Jones, Executive General Manager Wafi Golpu at Newcrest Mining. He told the Australia Papua New Guinea Business Forum in Brisbane that, if the project gets the go-ahead, it will help local agriculture.
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Kumul Petroleum MD believes ‘step change’ needed to achieve electrification targets in Papua New Guiea

The Managing Director of Kumul Petroleum Holdings (KPH), Wapu Sonk, believes a ‘step change’ is needed in the electrification of Papua New Guinea. He argues that some gas production should be reserved for domestic production.
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Court hearings in Port Moresby and Melbourne over future of Bougainville’s Panguna copper mine

A court hearing this week (17 May) in Port Moresby will help determine if there is a judicial review of the Bougainville government’s decision to refuse the extension of an exploration licence for the Panguna copper mine. Also that day, a federal court hearing will be asked to rule on the release of documents showing the relationship between dissident landowners and a Perth-based company seeking exploration rights to Panguna.
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Transparency Initiative report calls for improved systems in extractive sector in Papua New Guinea

The Extractive Industries Transparency Initiative Report for 2016 has found that improvements are being made to registry and payment systems, but more needs to be done. It notes that budgeting to government revenues remains difficult because of the industry’s volatility and the relatively small number of companies paying full tax.
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