In brief: Foreign exchange reserves to be about US$2 billion by year’s end, and other business stories

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. 

Increasing global battery demand will drive higher nickel & cobalt prices, predicts Highlands Pacific MD

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.