Japan funding K2 billion for roads and bridges, the National Executive Council prevents PNG Power from defaulting on overdraft and PanAust buys 80% share of Frieda River project. Your weekly digest of the latest business news.
Highlands Pacific
O’Neill defends loan to buy into Oil Search, economy vulnerable unless security boosted, Manus Detention Centre focus of Abbott/O’Neill talks. Your weekly digest of the latest business news.
The entry of PanAust—a new player in PNG’s mining sector—is good news for the giant Frieda River gold and copper mining project in East Sepik Province. The move has also been welcomed by analysts.
Xstrata Copper has confirmed that it is considering the sale of part or all of its 81.82% share of the Frieda River copper-gold project on the border between Sandaun and East Sepik Provinces in Papua New Guinea.
Minerals sector enjoys its winnings while industrialised world struggles with debt crises.
The sky is the limit as Papua New Guinea’s remotest province sets off on a remarkable course of sustainable development.