The life of the key Ok Tedi mine is to be extended for another 11 years, but with falling ore prices and diminishing resources, the company faces critical challenges. In this exclusive interview with Business Advantage PNG, Musje Werror, the man chosen to lead Ok Tedi Mining, outlines his strategy.
Papua New Guinea’s credit finance industry has had ‘a challenging year’, according to Peter Burland, at one of the country’s leading finance companies, Credit Corporation Finance Ltd. Despite that, the company has expansion plans, he tells Business Advantage PNG.
Despite much that is good in the 2015 Budget, the Papua New Guinea government’s medium-term fiscal plans are a concern, writes Paul Flanagan, former senior executive in the Australian Treasury, and advisor to the PNG Treasury from 2011 to 2013.
In spite of the recent worldwide slump in commodity prices, numbers were strong at this week’s 13th Papua New Guinea Mining and Petroleum Investment Conference in Sydney. Business Advantage PNG examines why.
Pacific leaders have been the recipients of largesse from India’s Prime Minister and China’s President, who met in Fiji last week. Meanwhile, a new ANZ report details the increasingly close links between China’s aid and its investment in the Pacific.
Air Niugini is looking to expand its services to other Melanesian countries from 2015, and possibly China in coming years. The plans follow the launch of its new low-cost domestic subsidiary, Link PNG, which has implications for other state-owned enterprises.
Arbitration talks due to take place in London at the end of this month could have a major influence on the future development of Papua New Guinea’s oil and gas industry.
The Papua New Guinea Treasurer Patrick Pruaitch has presented a record K16 billion national budget for 2015, but with an increased deficit of K2.272 billion.
The two new players in Papua New Guinea’s TV industry this week began selling their set top boxes as they launched a total of 54 new free-to-air and pay channels.
Next month’s Mining and Petroleum Investment Conference in Sydney will take a critical look at how the industry can build on recent successful ventures in Papua New Guinea, as it deals with the global downturn.