The US$8 billion (K26.5 billion) Sepik Development Project at Frieda River will create ‘a new economic corridor’ in PNG’s northwest. Developer PanAust is suggesting it could give employment to about 5000 people during construction and increase Papua New Guinea’s GDP by K90 billion over 40 years.
Feasibility study for Frieda River mine in Sepik Province reveals expanded project, government accounts close this Friday and Pacific nations look to extended their exclusive economic zones. Your weekly digest of the latest business news.
New MDs at Air Niugini and Kumul Telikom, a board change at Highlands Pacific.
A resignation at Highlands Pacific
Rise in foreign exchange reserves expected, K1.3 billion required annually for road maintenance work, and Ramu nickel project to have 35 year life. Your weekly digest of the latest business news.
Prime Minister O’Neill working on loan to ease foreign exchange pressure, domestic market obligation for future LNG projects, and Western LNG project likely to be stand-alone. Your weekly digest of the latest business news.
Joint venture to sell Papua LNG output, Second mining lease issued in Bougainville, Cabinet approves Ramu Two project. Your weekly digest of the latest business news.
Telikom PNG in pre-APEC upgrade, strong result for Highlands Pacific, PM in Davos, Oil Search’s successful 2017, poor roads leading to food wastage, IFC sells BSP shares to Fiji fund, Nautilus trials on track, push to return artefacts
As demand for electric cars gather pace, Papua New Guinea’s Ramu mine is perfectly placed to be a big provider of the nickel and cobalt, both essential ingredients for these hi-tech batteries. Craig Lennon, Managing Director of Highlands Pacific told the Business Advantage Papua New Guinea Investment Conference in Sydney that both commodities are hot.
The Business Advantage Papua New Guinea Investment Conference was held last week in Sydney, successfully showcasing the nation’s potential as an investment destination and canvassing different views from the business community about the opportunities and challenges. A clear picture of the country’s—and the Pacific region’s—great untapped potential emerged.