The global mining industry is still in a ‘big hangover’, says Newcrest Mining’s Chief Development Officer, Michael Nossal. He tells an industry event that improving productivity is now the name of the game, as the industry waits for the interest from investors to return.
Papua New Guinea has a ‘fair and reasonable’ fiscal regime for resources when compared with its neighbours Australia and Indonesia, according to John Chambers, General Manager PNG for Santos. He outlines three approaches used around the world to deliver benefits from projects.
Twinza Oil is getting closer to producing gas from the Gulf of Papua according to Managing Director Huw Evans. He has outlined ambitious plans for PNG’s first offshore hydrocarbons development.
Canadian-listed company Cobalt 27 has acquired Highlands Pacific, principally for its interest in the Ramu nickel-cobalt mine in Papua New Guinea. The corporate play will mean divestment of non-core PNG assets.
Developers Newcrest Mining and Harmony Gold have signed a memorandum of understanding with the Papua New Guinea Government for the development of the Wafi-Golpu copper-gold mine in PNG’s Morobe Province. While the MOU indicates negotiations are proceeding well, there is still plenty of work to be done before the project gets a green light from government, local communities and investors.
Canadian miner K92 has found new ore and is ramping up its operations at its Kainantu mine in Papua New Guinea’s Eastern Highlands Province. In this exclusive interview, Chief Executive John Lewins tells Business Advantage PNG that the company is now profitable and has an anticipated mine life of over 15 years.
French super major Total will look to have a final gas agreement with the Papua New Guinea government for the Papua LNG project by March 2019. If the project gets the final go-ahead, production should start in 2024, according to Jean-Marc Noiray, Managing Director of Total E&P PNG.
Neil Chapman, Senior Vice President of ExxonMobil, told the APEC CEO Summit earlier this month that LNG capacity in Papua New Guinea could double. He claimed the global shift to natural gas to reduce carbon emissions is favouring the industry.
LNG and oil prices have weakened but the cocoa price has strengthened. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
Digital technology and artificial intelligence is changing the way mining is conducted, according to Christiaan Heyning, a Partner at the consultants McKinsey & Company. But he warns that astute management is required to reap the benefits.