Australian telecommunications giant Telstra has been in negotiations to buy Digicel, Papua New Guinea’s largest telco. Meanwhile, gas company Santos has been pursuing PNG’s largest company, Oil Search. Why is PNG seeing such mergers and acquisitions activity, and are more likely?
The Papua New Guinea Government and Twinza Oil have concluded negotiations on terms for Pasca A, PNG’s first offshore gas project. While the terms are subject to approval by PNG’s National Executive Council, a signed gas agreement is expected as soon as the end of this month.
Australian miner Geopacific Resources has secured funding to develop the gold mine on Papua New Guinea’s Woodlark Island in Papua New Guinea’s Milne Bay Province. Business Advantage PNG spoke exclusively to Chairman Ian Clyne and CEO Tim Richards about their expectations for the project.
BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.
Papua New Guinea has the potential to become one of the top coffee producers in the world. Deputy Director of the National Research Institute, Eugene Ezebilo, explores what other countries have done to boost their coffee production and how these strategies could be implemented in PNG.
Diversified landowner company Anitua is on the comeback trail, according to Chief Executive Patrick Doekes. He tells Business Advantage PNG the Papua New Guinean landowner company is looking to streamline operations and expand its product offerings.
Small and medium-sized businesses have the capacity to create jobs and propel Papua New Guinea’s economy, but how can this best be achieved? Business Advantage PNG looks at how banks are supporting the sector.
The imminent upgrade of defence facilities on Papua New Guinea’s Manus Island should provide significant opportunities for local business and labour, according to Australia’s Department of Defence. But the selection requirements are likely to be demanding.
The Ramu nickel mine in Papua New Guinea’s Madang province had strong first quarter production, according to Nickel 28, the junior partner in the joint venture.
Getting produce to market is one of the biggest constraints on Papua New Guinea’s cocoa industry, according to the Chief Operating Officer of leading cocoa exporter, NGIP Agmark. Steven Nightingale says his company is developing a model that is helping to improve the situation.