After the government’s endorsement of the Papua LNG Gas Agreement in September, attention has shifted to achieving a deal for the P’nyang gas project. Its developers see its pending approval as a prerequisite for the commencement of Papua LNG.
Mining & Energy
Gold is one of Papua New Guinea’s oldest export industries. Volumes have been volatile but the prospects for the sector look good, according to an expert at the World Gold Council.
Papua New Guinea’s Petroleum Minister has announced that the government will honour a gas deal struck with French major Total SA for the US$10 billion Papua LNG project. The project will be the single largest foreign investment in the Pacific country since the advent of the US$19 billion PNG LNG project a decade ago.
In an exclusive interview with Business Advantage PNG, ratings analyst Rebecca Hrvatin, says PNG’s fiscal imbalances will improve—provided the Papua LNG project continues as planned.
Proposed changes to the Mining Act are likely to go to Papua New Guinea’s Cabinet ‘in the next few weeks,’ according to Peter Graham, Managing Director of Ok Tedi Mining.
The mining industry needs government help to solve an exploration crisis, according to industry representatives. But government bodies are saying there needs to be a better sharing of the rewards in the national interest. Business Advantage PNG looks at the contrasting views of the industry and the state.
Mayur Resources, a diversified mineral exploration and energy company, continues to pursue three very different projects in Papua New Guinea. In this exclusive interview, Managing Director Paul Mulder outlines the company’s progress.
Papua New Guinea’s Petroleum Minister Kerenga Kua has announced that the National Executive Council (PNG’s cabinet) has ‘in principle’ agreed to ‘stand behind’ the gas agreement signed in April for the US$10 billion (K33.7 billion) Total-led Papua LNG project.
Harmony Gold Mining is evaluating options to extend the life of the Hidden Valley mine in Papua New Guinea, Harmony’s CEO for South East Asia, Johannes Van Heerden tells Business Advantage PNG.
Prime Minister James Marape told the 2nd Speaker’s Investment Summit in Port Moresby last week that the government would move quickly address ‘misunderstandings’ about the US$10 billion Papua LNG project.