Lukim PNG Nau 2013, a Papua New Guinea tourism promotion event designed to attract national and international operators and agents, has been a huge success, according to both the PNG Tourism Industry Association and PNG Tourism Promotion Authority.
Industry sectors
The Californian-based Neptune Pacific Line has agreed to buy a 50 per cent controlling interest in the Pacific Forum Line from the Samoan government.
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 negotiations which have lasted since January, Bank of South Pacific (BSP ) and Credit Corporation have entered into a ‘Share Sale and Purchase Agreement’, whereby BSP will acquire of Credit Corporation’s financial services businesses, if Credit Corporation’s shareholders approve.
Construction of Papua New Guinea’s national broadband network is progressing, with major milestones set be reached by mid 2015, according to technology consultant Sundar Ramamurthy, who is assisting the PNG government’s Independent Public Business Corporation on the project.
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.
Australian miner Newcrest Mining Limited has delisted from the Toronto Stock Exchange.
With the ExxonMobil-led PNG LNG project ‘more than 90% complete’ and due to start exports in the second half of 2014, what are the chances of additional LNG projects for PNG? Business Advantage PNG considers the candidates.
The PNG Securities Commission says it is not in the national interest for Kulim Malaysia to increase its stake in New Britain Palm Oil Limited (NBPOL).
ASX-listed gold producer, St Barbara Ltd, which owns the Simberi mine in Papua New Guinea’s New Ireland, has posted a full-year net loss of AUD$192 million (K409 million), due primarily to a lower gold price.