Porgera fallout: Prime Minister moves to reassure Papua New Guinea’s miners

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Prime Minister James Marape moves to allays concerns among Papua New Guinea’s mining companies following the decision not to renew the special mining lease for the Porgera gold mine. Meanwhile, the mine’s temporary closure is already affecting local business.

‘Nationalisation without due process’? Barrick Gold to take on Papua New Guinea government over Porgera decision

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The Papua New Guinea Government has announced that it will not renew the existing Special Mining Lease at the Porgera gold mine, which is operated by Barrick Gold. Barrick is set to challenge the decision.

In brief: lease extension for Papua New Guinea’s Porgera mine refused and other business stories

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Papua New Guinea to take over Porgera Mine, Mining Minister is looking to restart Wafi-Golpu discussions and Shadow Treasurer urges the introduction of a supplementary budget. The business news you need to kickstart you week.

In brief: Porgera Landowners Association presents a petition to renew mining lease and other business stories

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The future could look bright for Porgera gold mine, Western Province announces its position on P’nyang, and Papua New Guinea’s Treasurer says non-resource growth for 2020 is projected at 3.3 per cent. The business news you need to kick-start your week.

People moves: Barrick Gold Corporation, National Department of Health, Petroleum Resources Gobe, Trade and Investment Queensland, Papua New Guinea Athletes Commission

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Barrick Gold Corporation welcomes an Independent Director, the National Department of Health appoints an Acting Executive Manager, Petroleum Resources Gobe names a new head, Trade and Investment Queensland announces CEO, and Papua New Guinea Athletes Commission elects new Chairperso

In brief: Porgera mine to continue operations and other business stories

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Operations at Porgera mine will continue while the application for the Special Mining Lease is revised, concerns about the delay in the approval of the Ramu 2 project, and Wafi-Golpu still before court. Your weekly digest of business news.

In Brief: US$13 million airport project announced in Mendi and other business stories

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Papua New Guinea’s Prime Minister has announced a US$13 million airport in Mendi and Moody’s has changed the country’s issuer ratings from negative to stable. Your weekly digest of the latest business news.

Kingston Resources MD says company is looking to extend Misima and develop new sites

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Work at the Misima gold project has commenced, with Kingston Resources planning to extend the current resource and develop new mining areas.  Kingston Resources Managing Director, Andrew Corbett, tells Business Advantage PNG he expects drilling programs to commence in April.

In brief: Asian Development Bank downgrades Papua New Guinea’s growth outlook, and other business stories

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Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.

In brief: Bank of Papua New Guinea seeks K793 million loan to assist foreign exchange backlog, and other business stories

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Central bank seeks temporary loan to cover backlog of demand for foreign currency, district grants and non-tax paying companies under fire and kina to fall to its lowest level since 2003 if current rate of depreciation continues. Your weekly digest of the latest business news.