Australian miner Geopacific Resources has secured funding to develop the gold mine on Papua New Guinea’s Woodlark Island in Papua New Guinea’s Milne Bay Province. Business Advantage PNG spoke exclusively to Chairman Ian Clyne and CEO Tim Richards about their expectations for the project.
BSP Financial Group (BFL) has responded to allegations made by the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (FASU) that it was in breach of the country’s anti-money laundering laws. Meanwhile, the Bank of PNG’s Governor has distanced the central bank from the allegations made by its own unit.
Papua New Guinea has the potential to become one of the top coffee producers in the world. Deputy Director of the National Research Institute, Eugene Ezebilo, explores what other countries have done to boost their coffee production and how these strategies could be implemented in PNG.
Diversified landowner company Anitua is on the comeback trail, according to Chief Executive Patrick Doekes. He tells Business Advantage PNG the Papua New Guinean landowner company is looking to streamline operations and expand its product offerings.
New life is being breathed into Papua New Guinean art and craft with local artisans selling their work worldwide, thanks to a campaign called Thousand Tribes.
Small and medium-sized businesses have the capacity to create jobs and propel Papua New Guinea’s economy, but how can this best be achieved? Business Advantage PNG looks at how banks are supporting the sector.
For coffee lover and entrepreneur Georgina Benson it’s is all about flavour and quality – so she is introducing to Papua New Guinea a new way to prepare and enjoy local coffee.
The imminent upgrade of defence facilities on Papua New Guinea’s Manus Island should provide significant opportunities for local business and labour, according to Australia’s Department of Defence. But the selection requirements are likely to be demanding.
Papua New Guinea’s currency, the kina, has been steady this year after weakening against a number of major currencies in late 2020. Should it be devalued further? We asked Jonathan Prince, Treasurer at Westpac PNG, to consider the consequences.
Recent changes to the National Energy Authority Act 2020 and the Electricity Industry (Amendment) Act 2020 introduce new requirements for electricity projects and change the way the sector operates. Vaughan Mills, Lisa Kudada and Andrea Moffatt from the independent law firm Corrs Chambers Westgarth, explain the changes.