The sky is the limit as Papua New Guinea’s remotest province sets off on a remarkable course of sustainable development.
Mining & Energy
Mineral Resources Star Mountains (MRSM) is Western Province’s own example of the new breed of landowner company playing an increasingly entrepreneurial role in the nation’s economy.
On a visit to the Ok Tedi mine, we met with Nigel Parker, the man tasked with managing Ok Tedi Mining Limited through the final years of the mine’s life.
Business Advantage interviewed David Sode, Chief Executive Officer of PNG Sustainable Development Program Ltd, to discover more about its Western Province strategies.
While Solomon Islands lies in the mineral-rich Pacific Ring of Fire, its mining sector has yet to mirror the success of Papua New Guinea, the region’s minerals powerhouse. But the obstacles are being removed.
When production at the massive Frieda River copper-gold mine begins in 2016, it will launch a projected 30-year-plus phase of potential major returns for Papua New Guinea and for investors.
OilSearch Limited is PNG’s longest-established resources company, with an 80-year history of operations in the country. It currently operates all of PNG’s producing oil and gas fields and also has operations in Australia, Yemen and the United Arab Emirates.
Effectively replacing the regulatory roles previously undertaken by the Department of Mining, the Mineral Resources Authority (MRA) was established by an act of Parliament in 2005.
The Papua New Guinea Chamber of Mines and Petroleum is the peak industry body for the country’s resources sector.