The Chief Executive of copper and gold producer Ok Tedi Mining, Peter Graham, believes the Papua New Guinean company will enjoy a ‘sweet spot’ in the next few years. He says efficiency gains have substantially improved the mine’s competitiveness.
Industry sectors
The Chairman and founder of telecommunications company Digicel, Denis O’Brien, describes Papua New Guinea as a vibrant country that is a ‘fantastic location’ for investors. But he says the physical terrain also made it his company’s most challenging market.
Offshore investment by Papua New Guinea companies remains comparatively small, but there are opportunities. One banking executive suggests it as an important way local financial institutions can diversify.
Establishing a business on a Papua New Guinea island is a difficult challenge. But Robert Critchley, owner of cocoa and copra supplier, Sankamap Exports, describes how it can be done.
Papua Mining has been drilling in Papua New Guinea for six years and has some exciting prospects, according to Chief Executive David Price. He says the company is looking to grow aggressively—possibly in partnership with a larger player.
Oil and gas prices are rising but cocoa and silver are weaker. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
The proposed Wafi Golpu mine will contribute to the diversification of Papua New Guinea’s economy, according to Craig Jones, Executive General Manager Wafi Golpu at Newcrest Mining. He told the Australia Papua New Guinea Business Forum in Brisbane that, if the project gets the go-ahead, it will help local agriculture.
The Managing Director of Kumul Petroleum Holdings (KPH), Wapu Sonk, believes a ‘step change’ is needed in the electrification of Papua New Guinea. He argues that some gas production should be reserved for domestic production.
Papua New Guinea offers some unique tourism options, according to Bob Bates, owner of Trans Niugini Tours. But he says it has some distinct challenges as well.
Papua New Guinea agribusiness Mainland Holdings is launching into new agricultural sectors to reduce its reliance on imports. Chief Executive David Alcock told the Australia Papua New Guinea Business Forum that the company intends to grow sorghum and soya beans to use as stockfeed in partnership with local farmers.