A tale of two cities: why successful investment in Lae is a boost for Port Moresby

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Lae, Papua New Guinea’s second-largest city, is again emerging as a key location for investment. Far from drawing investors away from capital Port Moresby, a buoyant Lae could actually be good for both cities, say representatives from the two cities’ business chambers.

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IFC’s ambitious plan to improve agribusiness in the Markham and Ramu valleys

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The International Finance Corporation is undertaking a scoping study of the Markham and Ramu valleys to assess agricultural opportunities in Papua New Guinea. The results will help to develop a win-win business model for agri-investors and customary landowners.

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In brief: Oil and Gas Act to be amended and other business stories

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Changes to the Oil and Gas Act, Prime Minister James Marape has announced that he wants to get the Wafi-Golpu gold mine ‘operational at the soonest’, and opposition leader Patrick Pruaitch has presented a case to challenge Marape’s election as prime minister. Your weekly digest of business news.

Lae to become city of innovation and growth, says the President of LCCI

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John Byrne, President of the Lae Chamber of Commerce and Industry (LCCI), tells Business Advantage PNG that despite foreign exchange shortages and poor roads, there is an upward trend in the city.

Morobe Province: Papua New Guinea Business Guide

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Morobe is Papua New Guinea’s most populous province and the gateway to the interior of the country.

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MOU signed for Wafi-Golpu copper-gold mine in Papua New Guinea

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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.

People moves: Morobe Province, Newcrest Mining

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Bazzinuc replaces Zurenuoc in Morobe, Newcrest Mining appointment

Opinion: Papua New Guinea economy to remain weak but Lae business hopeful of an upturn

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The Papua New Guinea economy is not likely to improve greatly in the first half of the year, says Alan McLay, President of the Lae Chamber of Commerce. But he believes companies in Lae – PNG’s manufacturing and logistics hub – remain hopeful of an upturn and he expects some positive developments with power provision.

Protests force Lae businesses to close, but damage minimal: Lae Chamber

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Unrest in Papua New Guinea’s second city, Lae, has caused major disruptions for the city’s business community this week. Fortunately, as Lae Chamber of Commerce President Alan McLay told Business Advantage PNG, Lae has avoided serious damage and things are now returning to normal.

Wafi-Golpu project set for production by end of decade

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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.