Frieda River, a wholly owned PNG subsidiary of PanAust, has lodged a Special Mining Lease application to Papua New Guinea’s Mineral Resources Authority to develop the Frieda River Copper-Gold Project. Glen Connell, PanAust’s General Manager, Government and Community Relations, tells Business Advantage PNG that developing a ‘social licence’ to operate is just as crucial to the success of the project.
PanAust has released its feasibility study into the Frieda River mine in Sandaun Province, claiming it is ‘one of the largest undeveloped copper-gold deposits in the world’, with an initial 17-year mine life. The company’s intention is to take a staged approach to development.
Total SA Chairman says company is planning to commence construction of LNG plant in 2018, Ramu NiCo ordered to stop operating nickel mine and Harmony Gold reports ‘continuing exploration success.’ Your weekly digest of the latest business news.
Papua New Guinea’s approach to mining and resources legislation, currently under review, will be critical to positioning the country for the next upswing in prices, claims Greg Anderson, executive director of the PNG Chamber of Mines and Petroleum.
Agriculture Minister says annual investment in agriculture is just K150 million a year, call for mining sector style tax incentives for agriculture, and Leaders’ summit critically important, says O’Neill. Your weekly digest of the latest business news.
Banks vie to renew government’s loan for shares in Oil Search, structural faults in Phase One of new Lae port, OK Tedi to resume operations next month. Your weekly roundup of the latest business news.
Duma to review SOEs before privatisation process, Santos reported to be selling PNG LNG stake, KCH receives study on proposed 1800MW hydro dam. Your weekly digest of the latest business news.
Regulatory stability, and how industry and Government can work together to deliver ‘shared benefits’ will be key themes of next week’s Papua New Guinea Mining and Petroleum Seminar in Port Moresby, according to PNG Chamber of Mines and Petroleum Executive Director, Greg Anderson.
Chief Secretary indicates SABL leases will be returned soon, and Woodside CEO says Oil Search bid his ‘full price’. Your weekly digest of the latest business news.
Analysts predict Woodside will up its takeover offer for Oil Search, Business leader estimates K1.5 billion in foreign currency waiting for processing, and NZ re-opens its trade office in Port Moresby. Your weekly digest of the latest business news.