The latest closure of the Ok Tedi mine reminds us that disruptions at major mining operations in Papua New Guinea are nothing new. While the closure is undoubtedly a setback, Business Advantage PNG’s survey of PNG’s other major mines suggests prospects for the mining sector are more positive.
In brief: Sovereign Wealth Fund & Corruption Commission legislation before parliament, and other business news
Welcome,
22 Jul 2015 by Leave a Comment
Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.
Six things we learned at Australia–Papua New Guinea Business Forum in Lae
Welcome,
27 May 2015 by Leave a Comment
Trade Minister Richard Maru has urged Australian and Papua New Guinean business leaders to look seriously at diversifying their areas of investments.
Wafi-Golpu project set for production by end of decade
Welcome,
11 Feb 2015 by
The Wafi-Golpu gold-copper project in Morobe Province is a bright spot in an otherwise tight mining environment. The Morobe Mining Joint Venture partners believe it will be one of the world’s lowest cost gold projects, and expects production to begin in 2020.
In brief: O’Neill declares PNG moving towards a new regime of ‘managed economic growth’ and other business stories.
Welcome,
3 Sep 2014 by
A new approach to managing PNG’s economy, Manus Island detention centre to be ‘wound down’, and PNG cricketers turning professional. Your weekly digest of the latest regional business news.
In brief: PM takes over Treasurer’s role, first LNG shipments ahead of schedule and Ok Tedi Mining profits plunge
Welcome,
12 Mar 2014 by Leave a Comment
O’Neill sacks two more Cabinet ministers, Exxon expects LNG exports to start early and Ok Tedi Mining profits plunge 80%. Your weekly digest of the latest business news.
Harmony Gold in US$280 million write-down
Welcome,
25 Jul 2013 by
Harmony Gold has become the latest gold miner to write-down its Papua New Guinea assets, as a sharp drops in bullion prices force mining companies globally to reassess the profitability of their mines.
Newcrest Mining to ‘simplify’ Papua New Guinea mining operations
Welcome,
11 Jun 2013 by
Newcrest Mining has revealed it is aiming to ‘simplify’ operations at the Lihir and Hidden Valley gold mines in Papua New Guinea, after writing down the value of its mines in PNG, Australia and Africa by AUD$6 billion (K12.6 billion).
Harmony/Newcrest to cut costs
Welcome,
8 May 2013 by
Gold miners Newcrest Mining and Harmony Gold report are reviewing capital expenditure at their two joint venture projects in Papua New Guinea because of weak gold prices.
Mining update: Papua New Guinea defies world trends
Welcome,
1 May 2012 by Leave a Comment
Minerals sector enjoys its winnings while industrialised world struggles with debt crises. Papua New Guinea’s minerals sector has been sitting in a sweet spot in the past year, with prices for major commodities rising while much of the industrialised world is in a debt-induced funk. The gold price has risen from lows of $US1320 an […]
USD 0.2634
AUD 0.4094
GBP 0.2127
EUR 0.247
NZD 0.4457
JPY 40.76
SGD 0.3586
Recent readers’ comments