Two key events before year’s end are likely to decide the timeline for the rebuilding of the Panguna copper mine on Bougainville Island. The Chairman of Bougainville Copper Limited, Rob Burns also tells Business Advantage PNG two board appointments last month (Oct) is part of the company’s strategic development.
Funding the re-opening of the Panguna copper mine is a key concern for a newly-formed Joint Committee of landowners, BCL and governments, says Bougainville Governor, John Momis. Independent analysts believe it is likely to come from one of the global mining majors.
Australian miner with links to Bougainville landowners bids to restart Panguna, research into boosting tourism in East New Britain and Milne Bay, and ABAC prepares paper on life after mining projects. Your weekly digest of the latest business news.
Over three thousand nominate for 2017 national elections, the moratorium on mining exploration in Bougainville is lifted, and cocoa farmers receive grants. Your weekly digest of the latest business news.
Government to spend K300 million buying into Star Mountain Plaza project, Bougainville President supports new-look BCL, and Trade Minister seeks ban on Fiji imports. Your weekly digest of the latest business news.
The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.
The Autonomous Bougainville Government (ABG) says it is likely to put exploration licences out to international tender as a first step towards restarting the K177 billion Panguna gold and copper mine. Governor John Momis tells Business Advantage PNG he expects the ABG to take up Rio Tinto’s offer of shares, claiming that the national government should pass on the shares it was given by Rio to the ABG.
Government tells Chinese company to start building Madang’s Pacific Marine Industrial Zone, new Tourism Minister unimpressed with Tourism Promotion Authority and second LNG ship is named Kumul. Your weekly digest of the latest business news.
The Bougainville conflict, which lasted from 1988-1998, was critical to defining how sovereign risk was perceived in Papua New Guinea. Former PNG Prime Minister, Sir Julius Chan, knew that keeping the island was vital both for the PNG economy and the nation’s status as an investment destination. He reflects on the extraordinary events in his autobiography.
Ramu Agri GM moves to Sime Darby, and Autonomous Bougainville Government appoints Ministers.