The CEO of expanding security firm Black Swan International believes a successful long-term approach to security involves decreasing risk, decreasing costs and increasing productivity. Brian Kelly spoke to Business Advantage PNG.
Industry sectors
A founding shareholder in the PNG LNG project, Santos, says it will carry out a ‘full strategic review’ of its operations, after losing more than A$8 billion in market value in the first half of 2015.
Following the passage of enabling legislation in the last sitting of Papua New Guinea’s National Parliament, the long-awaiting restructure of state assets and enterprises under the Kumul name is set begin, with Prime Minister O’Neill setting a target of 1 January 2016 for the transfer of state assets to their new homes.
Asian Development Bank analysis showing just how vulnerable Pacific nations are to natural disasters, but what can be done to better manage the risk? Wayne Dorgan from leading Papua New Guinea insurer Pacific MMI calls on disaster co-ordinators in the region to consult more closely with the insurance industry.
ANZ’s timely discussion paper, ‘Powering PNG into the Asian Century’, argues for further reform in Papua New Guinea’s electricity sector and a greater reliance on newer, cleaner energy technologies.
The Papua New Guinea government has acknowledged the need for action to deal with a worsening Budget deficit, blaming lower global commodity prices.
The latest closure of the Ok Tedi mine reminds us that disruptions at major mining operations in Papua New Guinea are nothing new. While the closure is undoubtedly a setback, Business Advantage PNG’s survey of PNG’s other major mines suggests prospects for the mining sector are more positive.
Sustainability and value-adding are repeatedly stated as the goals for Papua New Guinea’s forestry sector. Ian Neubauer visits Bulolo in Morobe Province, an old gold-mining town that has re-invented itself with a sustainable timber industry.
The 30 per cent jump in the value of Kina Securities when it listed jointly on the Australian Securities Exchange and the Port Moresby Stock Exchange last Thursday ‘exceeded our expectations’, Chief Executive Officer Syd Yates tells Business Advantage PNG.
The El Nino weather pattern which has seen the temporary closure of the Ok Tedi mine could potentially last for up to a year, according to former senior PNG agriculture business executive, Bob Hansen, adding the loss of mining income could be as much as K2.77 billion a year.