InterOil Corporation has announced it is teaming up with France’s Total S.A. to develop Papua New Guinea’s second LNG gas project at the Elk and Antelope fields in Gulf Province. How will the new project fit into PNG’s existing LNG landscape?
Mining & Energy
It’s been an ‘momentous’ year for Ok Tedi Mining Limited, according its CEO, Nigel Parker. Business Advantage PNG spoke to him about a tough year for Papua New Guinea’s largest mine and its likely future.
Next week’s Papua New Guinea Mining and Petroleum Seminars in Port Moresby will highlight the increasing divergence in fortunes of PNG’s mining and petroleum sectors, according to Greg Anderson, Executive Director of the Papua New Guinea Chamber of Mines and Petroleum.
Interoil expects to announce a ‘major transformational deal’ by the end of 2013 to develop the Papua New Guinea’s second LNG plant, according to recently appointed CEO Michael Hession.
The entry of PanAust—a new player in PNG’s mining sector—is good news for the giant Frieda River gold and copper mining project in East Sepik Province. The move has also been welcomed by analysts.
Even if the PNG Government puts up its share of the funds for the Solwara I, as Nautilus Minerals’ CEO expects, it will be at least two to three years before the company can begin its deep sea mining operation in the Bismarck Sea.
Nautilus Minerals says it will go ahead with its high grade copper-gold exploration project in the Bismark Sea, after an international arbitrator compelled the PNG government to abide by a joint venture agreement.
The ratings agency Standard and Poor’s is adopting a ‘wait and see’ attitude towards the O’Neill government’s nationalisation of the Ok Tedi mine and its owner, the PNG Sustainable Development Program (PNGSDP).
In an escalation of the public debate on the ownership of the Ok Tedi mine, the Chairman of the Papua New Guinea Sustainable Development Program Ltd (PNGSDP) has accused the government of ‘stealing’ Ok Tedi Mining Ltd.
After a troubled history, the gold mine at Mount Kare in Enga Province was now back on track, Stephen Promnitz, Chief Executive Officer of Indochine Mining, told delegates at the Papua New Guinea Advantage 2103 investment summit this week.