Oil prices have been strong, but LNG prices have weakened sharply. Oil palm and coffee prices have fallen, but cocoa prices are steady. Business Advantage PNG’s monthly overview of commodity and financial markets.
Industry sectors
Massive growth in participation has forced the Papau New Guinea Government to come up with new strategies for the finance sector and financial inclusion. Business Advantage PNG’s David James reviews the strategies and finds a greatly enhanced role for the central bank.
Collaboration between Papua New Guinea’s Petroleum and Energy Sector will be the theme of the third CWC Papua New Guinea Petroleum and Energy Summit. The event will feature updates and discussions on expansion opportunities in the country’s energy sector.
With only 10 years of estimated current mine life, Ok Tedi Mining is working hard to optimise production and maximise profit at Papua New Guinea’s largest copper mine, says CEO Peter Graham.
In the last part of her three-part series about digital entrepreneurs, Lisa Smyth speaks with two inspiring Papua New Guineans who use blogging to empower their communities.
The US$8 billion (K26.5 billion) Sepik Development Project at Frieda River will create ‘a new economic corridor’ in PNG’s northwest. Developer PanAust is suggesting it could give employment to about 5000 people during construction and increase Papua New Guinea’s GDP by K90 billion over 40 years.
The global mining industry is still in a ‘big hangover’, says Newcrest Mining’s Chief Development Officer, Michael Nossal. He tells an industry event that improving productivity is now the name of the game, as the industry waits for the interest from investors to return.
Young Papua New Guinea digital entrepreneurs are developing followings in film and podcasts. They are bringing something relatively new to the country.
A Pacific-wide three-month ban on fish aggregating devices (FADs) has been extended for another year to allow tuna stocks to continue to revive. But in a warning to other fishing nations, Palau is going ahead with its ban on all commercial fishing vessels.
Papua New Guinea has a ‘fair and reasonable’ fiscal regime for resources when compared with its neighbours Australia and Indonesia, according to John Chambers, General Manager PNG for Santos. He outlines three approaches used around the world to deliver benefits from projects.