Papua New Guinea Sustainable Development Program Limited has been under heavy political pressure to relinquish is majority ownership of PNG’s largest mine, Ok Tedi. In this speech, delivered at the announcement of the company’s 2012 annual report this week, PNGSDP Chairman Sir Mekere Morauta appears to concede the loss of Ok Tedi, arguing for a sale on fair terms, and ponders both the future of PNG’s largest mine, and his own organisation.
Dr Genevieve Nelson, Executive Director of the Kokoda Track Foundation outlines program which is encouraging young Papua New Guineans to consider themselves as leaders.
The Chairman of Advance Cairns, Cam Charlton, explains why the commercial ties between Cairns and PNG are going from strength to strength.
Papua New Guinea’s Government has an ambitious target of creating 500,000 locally-owned businesses over the next 20 years. The National Development Bank is key to its plans, as Managing Director Moses Liu explains.
State utility PNG Power has been authorised to start negotiations with Hong Kong-based liquefied gas and power company, Energy World Corporation, to build a new 30MW-to-80MW diesel and gas-fuelled power plant in Port Moresby.
Power outages may become a distant memory, with Papua New Guinea’s power generation capacity set to double in coming years, largely due to increased investment from the private sector.
Papua New Guinea’s much-anticipated second gas project could turn out to be an extension of its first, as ExxonMobil commences exclusive negotiations with InterOil and Pacific LNG.
Managing generational change is a big challenge for any business. We meet 26-year-old Max Puritau, who has taken over his parents’ business, Paradise Spices, and is seeing exports soaring.
Japanese investment in Papua New Guinea’s gas resources has increased, with Japan’s second largest gas company buying a 40% stake in Australia’s Horizon Oil, which has an interest in several PNG petroleum leases.
‘A work in progress’ is how Brett Andrew describes his rebuilding of the decades-old Papua New Guinea finance firm, RIFL.