Bank South Pacific (BSP) appoints a Group Chief Financial Officer, Nasfund welcomes a Chief Officer Members Services, Coca-Cola Amatil gets a new Group CFO, an Acting Director for Legal Training Institute, Ok Tedi Mining appoints a new head and Kumul Mineral Holdings elects a Chairman and Acting Managing Director.
Proposed changes to the Mining Act are likely to go to Papua New Guinea’s Cabinet ‘in the next few weeks,’ according to Peter Graham, Managing Director of Ok Tedi Mining.
With only 10 years of estimated current mine life, Ok Tedi Mining is working hard to optimise production and maximise profit at Papua New Guinea’s largest copper mine, says CEO Peter Graham.
Developers Newcrest Mining and Harmony Gold have signed a memorandum of understanding with the Papua New Guinea Government for the development of the Wafi-Golpu copper-gold mine in PNG’s Morobe Province. While the MOU indicates negotiations are proceeding well, there is still plenty of work to be done before the project gets a green light from government, local communities and investors.
Research by the Fraser Institute shows that Papua New Guinea rates ahead of several Australian states for attractiveness for mining investment. Gavin Wendt, Founding Director of resource analyst Minelife, says statements from Kumul Mineral Holdings’ Chairman Peter Graham that it will invest in upcoming projects are also a positive for foreign investors.
If the giant Panguna copper mine on Bougainville is ever to re-open, many complex problems must be solved, including the status of the former miner, Bougainville Copper Limited (BCL). In this exclusive interview with Business Advantage PNG, BCL Chairman Rob Burns outlines its strategy to return to mining.
Law firm appoints Principal to new office in Port Moresby.
A new chairman at Kumul Minerals, a new tax partner at Ernst & Young, Nautilus Minerals appoints a new Company Secretary, Clarke Energy appoints its first PNG Sales Manager
Redundancies at Petromin Holdings ahead of restructure, LNG price slump may go further, and Santos confident its share price will rise. Your weekly digest of the latest business news.
Following the passage of enabling legislation in the last sitting of Papua New Guinea’s National Parliament, the long-awaiting restructure of state assets and enterprises under the Kumul name is set begin, with Prime Minister O’Neill setting a target of 1 January 2016 for the transfer of state assets to their new homes.