The Pacific region’s energy sector is experiencing growth, according to Calum Smith, Senior Vice President of Asia Pacific at the recruitment consultancy Airswift. He says the sector is creating a need to find skilled local talent, especially in the areas of digitalisation and renewables.
Developers Newcrest Mining and Harmony Gold have signed a memorandum of understanding with the Papua New Guinea Government for the development of the Wafi-Golpu copper-gold mine in PNG’s Morobe Province. While the MOU indicates negotiations are proceeding well, there is still plenty of work to be done before the project gets a green light from government, local communities and investors.
Carolyn Blacklock, the acting Managing Director of PNG Power, says the money that will come from the Papua New Guinea Electrification Partnership established at APEC will greatly assist the roll out of electricity. She says PNG Power has sharply increased the number of connections it is making and is aiming to concentrate on hydropower.
The Port Moresby Stock Exchange has new majority owners. So, who’s behind Pacific Capital Markets Development and what are their plans for Papua New Guinea’s bourse? In this exclusive interview, one of the Principals of Pacific Capital, Frank Dunphy, reveals all to Business Advantage PNG.
Kumul Consolidated Holdings, the holding company for Papua New Guinea’s state-owned enterprises (SOEs), has released its Year in Review. It says that 2018 has been ‘particularly difficult and challenging’ for the country’s SOEs and that a fundamental change is necessary if the enterprises are to expand.
Papua New Guinea’s hosting of APEC 2018 was a success, say three senior figures involved in its organisation. Ivan Pomaleu, PNG’s APEC Ambassador, suggests that the country achieved all of its goals in spite of the lack of a consensus within the group of 21 nations.
Kina Bank’s vision is to be the country’s leading digital bank, CEO Greg Pawson tells Business Advantage PNG. He says the bank is preparing to take over ANZ PNG’s retail, commercial and SME businesses.
Canadian miner K92 has found new ore and is ramping up its operations at its Kainantu mine in Papua New Guinea’s Eastern Highlands Province. In this exclusive interview, Chief Executive John Lewins tells Business Advantage PNG that the company is now profitable and has an anticipated mine life of over 15 years.
French super major Total will look to have a final gas agreement with the Papua New Guinea government for the Papua LNG project by March 2019. If the project gets the final go-ahead, production should start in 2024, according to Jean-Marc Noiray, Managing Director of Total E&P PNG.
Neil Chapman, Senior Vice President of ExxonMobil, told the APEC CEO Summit earlier this month that LNG capacity in Papua New Guinea could double. He claimed the global shift to natural gas to reduce carbon emissions is favouring the industry.