Gavin Wendt, Founding Director and Senior Resource Analyst for MineLife, discusses the positive outlook for Papua New Guinea’s two key export metals, copper and gold.
gold
Less than one year after acquiring Papua New Guinea’s largest gold mine, Newmont Corporation is pushing ahead with plans to increase grades and mine life at Lihir. On the eve of finishing his term as Newmont PNG Managing Director, Alwyn Pretorius took Business Advantage PNG inside the transition and shared the plans for the island mine’s future.
The prospects for the prices of metals Papua New Guinea exports are mostly positive, reports David James from the recent International Mining and Resources Conference.
LNG prices continue to surge and are now up by over a third this year. But oil prices eased and cocoa prices also fell slightly. Business Advantage PNG’s monthly review of commodity and financial markets.
LNG prices have surged clawing back earlier losses, while the oil price is steady and cocoa is also strong: Business Advantage PNG’s monthly overview of commodity and financial markets.
Cashed-up Kingston Resources is expecting to complete a pre-feasibility study later this year for the Misima gold project in Papua New Guinea’s Milne Bay Province. With the gold price riding high, investors believe the project is a promising one.
Oil and gas prices both fell this month, with LNG dropping particularly sharply, while gold and cocoa are holding their own in a tough market for commodities.
Oil and palm oil prices have strengthened but LNG continues to fall. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
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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.