The Wafi-Golpu Joint Venture has released new information on its proposed DSTP method of tailings disposal for the planned Wafi-Golpu mine in Papua New Guinea. The move is designed to allay environmental concerns, including those expressed by Morobe Governor Ginson Saonu.
The signing of a fiscal stability agreement between Papua New Guinea and French oil major Total looks set to trigger the FEED phase of the multi-billion dollar Papua LNG project. Wapu Sonk, Managing Director of national oil company Kumul Petroleum, tells Business Advantage PNG the signing is expected within the next two weeks.
A joint communique issued earlier this month by Papua New Guinea’s Prime Minister James Marape and new Bougainville President Ishmael Toroama has committed them to moderated ‘joint consultations’ over the autonomous region’s desired independence. It has again brought focus on the future of the island’s massive Panguna copper and gold mine.
The prospects for the prices of metals Papua New Guinea exports are mostly positive, reports David James from the recent International Mining and Resources Conference.
The global economy is recovering faster that expected, according to Douglas Porter, Chief Economist and Managing Director of Canadian investment bank, BMO Financial Group.
Oil Search has announced in a recent strategy update that it will continue to reduce costs and pull back on exploration. However, the company says it intends to make the Papua LNG project a priority.
Horizon Oil has announced that it is selling its assets to its co-venturer Arran Energy and pulling out of Papua New Guinea. The prospect of a weak oil price may be to blame, according to one analyst.
Mayur Resources has just released its annual report, providing an update on its diverse portfolio of mining and energy projects in Papua New Guinea, including the Central Cement and Limestone project.
The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.
In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.