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.
Industry sectors
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.
Papua New Guinea finance company Moni Plus is in expansion mode, after launching a state-of-the-art online foreign exchange service earlier this year.
Commercial banks in the Solomon Islands have closed down several logging company bank accounts, in a move that will make it almost impossible for those companies to receive export proceeds.
The Independent Public Business Corporation says it is now talking directly with Vodafone UK to bring the global telecommunications giant to run BeMobile PNG.
Melbourne-based mining company, Newcrest Mining Ltd, which has extensive mining assets in Papua New Guinea, has ended the financial year with a net loss of AUD$5.778 billion (K 12.29 billion) for 2012–13.
The Papua New Guinea government is looking for a new partner to develop the country’s second mobile phone carrier, Bemobile, after the Fiji National Provident Fund suddenly pulled out.