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Xstrata may sell stake in Frieda River

8 Aug 2012 by Leave a Comment
Xstrata Copper has confirmed that it is considering the sale of part or all of its 81.82% share of the Frieda River copper-gold project on the border between Sandaun and East Sepik Provinces in Papua New Guinea. “We are continually evaluating our industry-leading portfolio of development projects and assessing the best way to advance these projects, maximise […]
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Managing the boom

3 Jun 2012 by Leave a Comment
Halfway through the building of its major liquefied natural gas project, Papua New Guinea finds itself in a strong fiscal position, but with some key challenges. After ten straight years of economic growth, culminating in an impressive 8.9% increase in GDP in 2011 (compared to a world average of 4%), Papua New Guinea’s economy is […]
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Fisheries industry takes new tack

1 May 2012 by Leave a Comment
Papua New Guinea’s fisheries sector is responding to the demands of its global market. ‘Tuna exporting is no longer a pricing game: it’s now all about sustainability and traceability,’ says the Managing Director of R D Tuna, Pete Celso. R D Tuna, PNG’s largest canning company, is currently being considered for accreditation under the Marine Stewardship Council’s sustainability and traceability […]
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The PNG 100 CEO Survey 2012

1 May 2012 by Leave a Comment
Senior executives of Papua New Guinea’s largest businesses are predicting increased profits, investment and employment in 2012 in spite of major challenges, according to a major new survey. The PNG 100 CEO Survey, conducted by Business Advantage International between December 2011 and February 2012, asked the CEOs of PNG’s major companies across all sectors of the economy to answer […]
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Perspectives on Papua New Guinea

1 May 2012 by
Business leaders provide their own take on opportunities in PNG’s economy. Greg Pawson, General Manager Pacific Banking, Westpac ‘Papua New Guinea is a very important market for us. We employ more than 400 staff across our PNG business. We have sixteen branches and we’re expanding, with new business centres in Lae and Port Moresby. We’re about to relocate our main […]
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PNG spearheads regional growth

1 May 2012 by Leave a Comment
Papua New Guinea is expected to remain the standout economy in the Pacific over the coming year, with its success having a knock-on effect on neighbouring Solomon Islands. Business Advantage summarises the outlook for the region’s larger economies. Unsurprisingly, the region’s fastest-growing economies are those whose economies are based around exporting natural resources, especially to Asia. ‘In Papua New Guinea […]
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Forestry: Making more from a sustainable resource

1 May 2012 by Leave a Comment
Papua New Guinea’s forestry sector contributes 4% of the country’s GDP, with significant room to grow as it responds to the rising demand for sustainable and traceable forest products. While most of its income is from the export of round logs, PNG also produces furniture, plywood, prefabricated buildings and other forest products for domestic and export […]
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Ok Tedi’s Nigel Parker on social responsibility in mining

1 May 2012 by
Nigel Parker, Managing Director and Chief Executive Officer of Ok Tedi Mining Limited (OTML), shares his thoughts on corporate social responsibility, mine life extension and what it means to lead a major mining company in a global market. I first came to Papua New Guinea in 2001. At the time, I had residential status in […]
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Opening up the telecommunications market

1 May 2012 by Leave a Comment
Papua New Guinea’s new regulatory regime for ICT is being credited with bringing about greater competition and an expansion of services. Business Advantage spoke with Charles Punaha of the National Information and Communications Technology Authority, the industry’s regulator, to discover how. Can you explain the changes to the way Papua New Guinea’s ICT sector is […]
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Mining update: Papua New Guinea defies world trends

1 May 2012 by Leave a Comment
Minerals sector enjoys its winnings while industrialised world struggles with debt crises. Papua New Guinea’s minerals sector has been sitting in a sweet spot in the past year, with prices for major commodities rising while much of the industrialised world is in a debt-induced funk. The gold price has risen from lows of $US1320 an […]
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