‘Six month farmers’ are a big problem in Papua New Guinea’s coffee industry Tom Kukhang, the Coffee Industry Corporation’s (CIC’s) Chief Scientist tells Business Advantage PNG. But there is a solution.
Sections
InterOil shareholders have overwhelmingly approved a revised takeover bid from ExxonMobil, despite opposition from InterOil founder, Phil Mulacek.
Papua New Guinea’s forestry faces fierce competition and pricing challenges, Chief Executive of the Forest Industries Association, Bob Tate, tells Business Advantage PNG. He says developments in China are troubling for the sector.
The Chief Executive of Papua New Guinea’s Ok Tedi mine, Peter Graham, tells Business Advantage PNG that the company is now in the top quartile of global copper producers. He says revised company estimates indicate the mine—for many years one of PNG’s major sources of foreign exchange—should have a longer life.
The way banks operate will change dramatically over the next five years, according to Kina Group’s Syd Yates. Banks will need to be quasi-technology companies.
Permitting easier labour movement between Australia and the Pacific Islands would have a more beneficial effect that foreign aid, claim Lowy Institute researchers Leon Berkelman and Jonathan Pryke. They consider two models for how it might work.
Businesses in Papua New Guinea must have strategies to manage the shortage of foreign currency, says Stephen Massa, Port Moresby Managing Partner of the law firm Dentons. He looks at some approaches but warns that businesses must pay attention to their legal obligations.
K92 Mining is preparing for its first export of gold concentrate from Kainantu mine and plans to ramp up to full production around April this year, company Chief Operating Officer, John Lewins tells Business Advantage PNG.
Changes in ANZ’s Asia-Pacific strategy could provide benefits to Papua New Guinea, ANZ’s Managing Director in PNG, Mark Baker. He also tells Business Advantage PNG he sees growth potential from PNG’s rising middle class, while mobile phone banking has moved past traditional PC based internet banking services.
Barrick Niugini’s Mining and Petroleum Industry Investment Fund provides relocated landowners with a superior financial outcome, according to Chris Trainor, Manager of Commercial Services. He believes it is a model for other Papua New Guinea mining companies to follow.