Papua New Guinea’s construction industry continues to face challenges, says Frank McQuoid, Chairman of manufacturer Steel Industries. But others say it is on the edge of a boom that will extend beyond the resource sector. David James examines both sides of the story.
The chairman of Bougainville Copper Limited (BCL), Sir Mel Togolo, has confirmed the company is talking to prospective partners about reopening the mine. But he is unwilling to put a date on when it might reopen.
Discussions between Papua New Guinea government agencies and the developers of the US$9 billion Wafi-Golpu copper-gold project have been put on hold by the country’s National Court while it considers an application for leave for a judicial review. Meanwhile, work under the project’s exploration licence continues.
The Total-led Papua LNG project looks set to enter its Front End Engineering Design (FEED) phase. It’s a good sign: according to the ANZ’s PNG Economic Outlook, 97 per cent of the gas projects that enter into FEED have a positive final investment decision. David James explores.
After receiving its banking licence five years ago, Women’s Micro Bank expects to deliver its first dividend in 2020. General Manger, Gunanidhi Das, tells Business Advantage PNG, the bank now has 27,000 customers, and aims to have 30,000 next year.
PNG DataCo is in discussions with the operators of the new H2 undersea cable being laid between Sydney and Hong Kong. A branch line into Papua New Guinea could open up greater global connectivity as well as lower prices and improved reliability.
Working with local farmers to get the fundamentals right has led to massive production increases for fresh produce business Hilans Fres in Papua New Guinea’s Western Highlands Province. Advisor Paul Browne explains how it’s been achieved.
US–China rivalry is likely to have a major impact on how future resources projects are funded, according to the ANZ’s Jonathan Bloch. He outlines some of the steps Papua New Guinea’s government can take to make such projects ready for investment.
As the Ok Tedi gold and copper mine nears the end of its current mine life, the Ok Tedi Development Foundation has launched a five-year plan to create economic self-reliance for the people of Western Province. Kevin McQuillan reports.
Papua New Guinea manufacturer Vitis Industries has expanded into spirits, brewing and coffee production as it seeks to convert locally-grown crops into consumer products. General Manager, Sergey Mosin shares some of his plans for 2019 with Business Advantage PNG.