A ‘commencement agreement’ has been hailed by Papua New Guinea’s government and Barrick Niugini as a ‘crucial step’ in the process of reopening the country’s largest gold mine. Business Advantage PNG considers what still needs to happen for the mine to return to productivity.
‘Heads of agreement’ have been reached for the ExxonMobil-led P’nyang gas project in Papua New Guinea’s Western Province. Business Advantage PNG looks at what this means for the project’s future development.
Crowdfunding and a new listed fund are in the pipeline at Papua New Guinea’s stock exchange, PNGX, as it looks at new ways of grow the country’s capital markets and encourage SMEs.
A new fabrication facility being planned to support the next wave of gas projects in Papua New Guinea could create as many as 15,000 jobs and enable Papua New Guinea to compete for regional work, according to Wapu Sonk, Managing Director of Kumul Petroleum.
What do micro, small and medium-sized businesses in Papua New Guinea actually need to thrive? Two entrepreneurs heavily involved in the country’s SME ecosystem gave their thoughts to the recent 2021 Business Advantage Papua New Guinea Investment Conference.
Papua New Guinea is sitting on a world-class wind power resource that could see it exporting power to the region in a relatively short space of time.
It is back to the drawing board for Kina Bank and Westpac, as Papua New Guinea’s Independent Consumer and Competition Commission has issued a ‘final determination’ declining authorisation of Kina’s proposed acquisition of Westpac Papua New Guinea.
Oil and gas companies Oil Search and Santos have completed a merger agreement set to create a company with ‘a pro-forma market capitalisation’ of approximately A$21 billion (K54 billion). Regulatory and shareholder approvals will ultimately decide the deal’s fate, however.
Awarding the Pandora gas field license to Papua New Guinea’s oil & gas national company spells potential significant changes to the way licenses are granted in the country.
A new opportunity has emerged for private and public organisations in Papua New Guinea and the Pacific seeking funds to develop new projects to mitigate climate change.