Newmont to list in Papua New Guinea as Newcrest acquisition is finalised

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Newmont Corporation’s acquisition of Newcrest Mining, which owns the Lihir gold mine in Papua New Guinea, and is one of the partners in the Wafi-Golpu copper-gold joint venture, is set to be completed in coming days. Business Advantage PNG considers what will happen next.

Mega miner: Newcrest Mining finally agrees to tie the knot with Newmont

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There’s every likelihood that a takeover of Newcrest Mining by Newmont Corporation will be completed by the end of this year. But how will this affect Newcrest’s Papua New Guinea-based assets – the Lihir gold mine and the Wafi-Golpu project?

Newcrest approves Lihir mine expansion in Papua New Guinea

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Newcrest Mining has approved a A$280 million (K696 million) expansion of its Lihir mine, following board endorsement of its Phase 14A feasibility study. The decision is set to deliver higher gold production and may extend mine-life.

Newcrest Mining’s PNG head on Lihir, Wafi Golpu and its operations in Papua New Guinea

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Newcrest’s Chief Operating Officer PNG, Craig Jones, talks with Business Advantage PNG about the future of Lihir gold mine and Wafi-Golpu, and the impact COVID-19 has had on its operations.

Newcrest Mining posts record profit

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Papua New Guinea’s largest gold miner, Newcrest Mining, has lodged record profits for the 12 months ending 30 June, thanks to higher gold and copper prices and lower operating costs.

Landowner company Anitua’s new expansion strategy

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Diversified landowner company Anitua is on the comeback trail, according to Chief Executive Patrick Doekes. He tells Business Advantage PNG the Papua New Guinean landowner company is looking to streamline operations and expand its product offerings.

In brief: vaccine rollout announced for Papua New Guinea and other business stories

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Vaccine rollout announced for Papua New Guinea’s 22 provinces, Enga Electrification Project gets funding and Kumul Petroleum to seek funding for gas fields overseas. The news in brief.

Going strong: Lihir forecasts record gold production

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Newcrest Mining says it can ‘unlock significant value’ at Lihir, Papua New Guinea’s biggest gold mine. David James takes a closer look at a mine forecast to produce over a million ounces a year.

In brief: Papua New Guinea’s economy expected to recover by 2.5 per cent and other business stories

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Bank South Pacific executive says Papua New Guinea’s economy will recover by 2.5 per cent, Marape launches seven projects in Kainantu including the Ramu Hydro Power Station 2 and K1 million allocated for communication towers in Gulf Province.

Transparency report shines light on Papua New Guinea’s extractive sector

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Although the extractive sector continues to be responsible for the bulk of Papua New Guinea’s exports, the latest Papua New Guinea Extractive Industries Transparency Initiative report has found that revenues to government remain comparatively small. Here’s what you need to know.