In brief: Papua New Guinea’s Prime Minister announces major cabinet reshuffle and other business stories

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Marape shakes-up his cabinet, environmental studies to be conducted in four mine sites and the National Development Bank signs agreement to help fund SMEs. The business news you need to kickstart your week.

Harder than expected: introducing Papua New Guinea’s new resources laws

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The Marape government’s proposed introduction of a new Organic Law for mining, and oil and gas projects will do away with Papua New Guinea’s ‘robust’ legal regime, according to Vaughan Mills, Head of PNG Practice for Corrs, Chambers Westgarth.

Fair share? Papua New Guinea’s move to production sharing in resource projects questioned

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The Papua New Guinea government’s proposal to move to production sharing agreements in resource projects may not solve the government’s financial problems and there is a risk it will harm the country’s reputation for being a good place to invest, according to the industry itself.

Papua New Guinea’s proposed new resources law aims to shake up old ownership models

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A new organic law defining how Papua New Guinea manages resource projects may soon be tabled in Parliament. It appears the main aim will be to change ownership and control of future projects, but will it spook international investors?

Government and industry debate the future of Papua New Guinea’s resources sector

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When it comes to Papua New Guinea’s resources sector, the government wants a better share of the rewards, but the industry is warning that the country is becoming a less attractive destination for investment.

Investors give Misima miner Kingston Resources the tick of approval

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Cashed-up Kingston Resources is expecting to complete a pre-feasibility study later this year for the Misima gold project in Papua New Guinea’s Milne Bay Province. With the gold price riding high, investors believe the project is a promising one.

Staking his claim: Kumul Minerals Holdings’ Peter Graham talks exclusively about the mining entity’s future

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Peter Graham, Chairman of Papua New Guinea’s state-owned mining company Kumul Minerals Holdings, talks extensively about its plans for the future.

Papua New Guinea needs to remain investor-friendly [opinion]

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Regulatory uncertainty has the potential to deter investors just when Papua New Guinea needs them most, argues Paul Barker, Executive Director of the Institute of National Affairs.

Ripple effects: how the global pandemic is affecting oil and gas in Papua New Guinea

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The COVID-19 crisis has profoundly shaken the global oil and gas industry. With the medium term picture for LNG prices likely to heavily impact PNG’s economy and government finances, Business Advantage PNG looks at the sector’s prospects.

Tools down: Papua New Guinea’s Porgera gold mine starts sacking workers

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Barrick Niugini, the majority owner and operator of the Porgera gold mine, has announced that it will be retrenching most of its workforce over the coming weeks. Meanwhile, Papua New Guinea’s government seems intent of finding a new operator for the mine.