Australian miner St Barbara has deferred an expected final investment decision on expanding the Simberi mine in Papua New Guinea and has announced a strategic review into the mine that could see it sold.
Mining & Energy
While the Papua LNG and P’nyang projects are the main game in Papua New Guinea’s gas sector, Arran Energy’s smaller Stanley gas project in Western Province looks set to beat both into production. Business Advantage PNG talks to Executive Chairman Michael McGowan to find out more.
The future of the proposed new gold mine on Papua New Guinea’s Woodlark Island remains in question, as Geopacific Resources looks to reset expectations surrounding the project and explores the possibility of a ‘corporate or asset-level’ sale.
What opportunities are there to supply Papua New Guinea’s major mines and what do potential suppliers need to know before attempting to do business in the country’s mining sector? We asked procurement professionals at two of the country’s major mines, Ok Tedi and Porgera, during an online briefing this week.
The rising oil price will have a significant impact on Papua New Guinea this year, according to the Country Manager and Director for Puma Energy, Hulala Tokome.
With a gas agreement finally executed for the US$10 billion ExxonMobil-led P’nyang gas project, and a start date provided for front end engineering and design for TotalEnergies’ Papua LNG project, Papua New Guinea’s energy sector now has a clear roadmap for the rest of the decade.
The prospects for a reopened Panguna copper mine have been boosted by a ‘joint resolution’ signed by landowners and the Autonomous Bougainville Government (ABG).
Landowner and provincial government-owned consortium Mineral Resources Enga has finally signed the Porgera Project Commencement Agreement, an essential step in the ongoing process to reopen the Porgera gold mine.
Santos is listing on Papua New Guinea’s stock exchange, the PNGX, after its merger with Oil Search received the necessary final approvals. It will immediately become the exchange’s largest listing, providing PNG’s capital markets with a timely boost.
Oil Search’s shareholders have voted overwhelmingly to approve its merger with fellow petroleum and gas company Santos at a special shareholders meeting. With National Court and ICCC approval also received, the way is clear for the creation of a A$23 billion (K56.88 billion) resources company.