The President of Bougainville, John Momis, wants work on restarting the giant Panguna gold and copper mine later this year, and says the former leader of the Bougainville Revolutionary Army, Sam Kuona, now supports re-opening the mine. In this exclusive interview with Business Advantage PNG, he outlines the steps now needed to restart operations.
Last month, Papua New Guinea’s fledgling National Petroleum Company signed its first deal, and it was a big one: a Memorandum of Understanding with Indonesia’s massive national oil company, Pertamina. NPCP Chairman Frank Kramer explains how the relationship will work.
Following recent announcements that it will aim to reduce operating costs at its Papua New Guinea sites, Newcrest Mining Ltd will cut at least 150 jobs from its workforce at the Lihir gold mine.
The newly-appointed head of the Bougainville landowners group is cautiously optimistic that work to re-open the giant Panguna copper and gold mine could begin within two years.
Newcrest Mining has revealed it is aiming to ‘simplify’ operations at the Lihir and Hidden Valley gold mines in Papua New Guinea, after writing down the value of its mines in PNG, Australia and Africa by AUD$6 billion (K12.6 billion).
Papua New Guinea Sustainable Development Program Ltd appears to be resigned to losing its main asset, the Ok Tedi mine, to the PNG Government. What are the implications if the takeover goes ahead?
Papua New Guinea’s much-anticipated second gas project could turn out to be an extension of its first, as ExxonMobil commences exclusive negotiations with InterOil and Pacific LNG.
Japanese investment in Papua New Guinea’s gas resources has increased, with Japan’s second largest gas company buying a 40% stake in Australia’s Horizon Oil, which has an interest in several PNG petroleum leases.
The new President of Papua New Guinea’s Chamber of Mines and Petroleum is concerned about the impact of falling commodity prices. Smaller profits may see some of PNG’s resources projects put on the backburner, he warns Business Advantage PNG.
Gold miners Newcrest Mining and Harmony Gold report are reviewing capital expenditure at their two joint venture projects in Papua New Guinea because of weak gold prices.