Ok Tedi has moved from ‘death row’ to a ‘sweet spot’, says CEO

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The Chief Executive of copper and gold producer Ok Tedi Mining, Peter Graham, believes the Papua New Guinean company will enjoy a ‘sweet spot’ in the next few years. He says efficiency gains have substantially improved the mine’s competitiveness.

In brief: Sovereign Wealth Fund & Corruption Commission legislation before parliament, and other business news

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Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.

Highlands Pacific continues unique path to Papua New Guinea mining success

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In the challenging environment facing Papua New Guinea’s mining industry, Highlands Pacific is standing out as a bright spot, after starting its Star Mountain exploration campaign with mining giant Anglo American. Business Advantage PNG talks with Managing Director John Gooding.

Wafi-Golpu project set for production by end of decade

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The Wafi-Golpu gold-copper project in Morobe Province is a bright spot in an otherwise tight mining environment. The Morobe Mining Joint Venture partners believe it will be one of the world’s lowest cost gold projects, and expects production to begin in 2020.

Nautilus targets Solwara 1 production in three years

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After overcoming several delays, development of Nautilus Minerals’ deep sea copper-gold mining project, Solwara 1, has taken significant steps forward in recent months. Business Advantage PNG talks with Nautilus Chief Executive Officer Michael Johnston about the world-first project.

‘Just like riding a tiger’: Ok Tedi Mining’s CEO reflects on a momentous year

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It’s been an ‘momentous’ year for Ok Tedi Mining Limited, according its CEO, Nigel Parker. Business Advantage PNG spoke to him about a tough year for Papua New Guinea’s largest mine and its likely future.

Newly-listed Indochine Mining revives Mount Kare gold mine

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After a troubled history, the gold mine at Mount Kare in Enga Province was now back on track, Stephen Promnitz, Chief Executive Officer of Indochine Mining, told delegates at the Papua New Guinea Advantage 2103 investment summit this week.

Simberi owner St Barbara posts AUD$192 million loss

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ASX-listed gold producer, St Barbara Ltd, which owns the Simberi mine in Papua New Guinea’s New Ireland, has posted a full-year net loss of AUD$192 million (K409 million), due primarily to a lower gold price.

Harmony Gold in US$280 million write-down

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Harmony Gold has become the latest gold miner to write-down its Papua New Guinea assets, as a sharp drops in bullion prices force mining companies globally to reassess the profitability of their mines.

Bougainville leaders consider lifting exploration moratorium

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Bougainville leaders are considering lifting the moratorium on mineral exploration which has been in place since the 1970s, in case the Panguna gold and copper mine does not re-open.