In brief: new guidelines for Kumul Petroleum Holdings and other business news

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Kumul Petroleum Holding Limited has been asked to cease exploration, drilling and greenfield investments, the World Bank has released an economic update signalling economic slowdown in Asian and Pacific economies, and K92 Mining has released its Q3 results above budget. Your weekly digest of business news.

Global mining industry still recovering from a ‘great big party’

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The global mining industry is still in a ‘big hangover’, says Newcrest Mining’s Chief Development Officer, Michael Nossal. He tells an industry event that improving productivity is now the name of the game, as the industry waits for the interest from investors to return.

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.

Electrification Partnership beginning of new era for PNG Power

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Carolyn Blacklock, the acting Managing Director of PNG Power, says the money that will come from the Papua New Guinea Electrification Partnership established at APEC will greatly assist the roll out of electricity. She says PNG Power has sharply increased the number of connections it is making and is aiming to concentrate on hydropower.

Robots, drones and profits: how digital technology is revolutionising mining

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Digital technology and artificial intelligence is changing the way mining is conducted, according to Christiaan Heyning, a Partner at the consultants McKinsey & Company. But he warns that astute management is required to reap the benefits.

People moves: Morobe Province, Newcrest Mining

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Bazzinuc replaces Zurenuoc in Morobe, Newcrest Mining appointment

Wafi Golpu mine would be good for the wider Papua New Guinea economy, says executive

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The proposed Wafi Golpu mine will contribute to the diversification of Papua New Guinea’s economy, according to Craig Jones, Executive General Manager Wafi Golpu at Newcrest Mining. He told the Australia Papua New Guinea Business Forum in Brisbane that, if the project gets the go-ahead, it will help local agriculture.

Economic update: major projects will be crucial for Papua New Guinea’s economy

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The fate of some major projects will be critical for the future of the Papua New Guinea economy over the next decade. In the second of a two-part series, Andrew Wilkins discusses the implications.

In brief: More than just a Supplementary Budget needed says UN Country Manager, and other business stories

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Roy Trivedy says Supplementary Budget is essential but not enough, Telikom and bmobile merger approved, visas for SME workers on hold.

In brief: Newcrest Mining reports drop in gold production and other business stories

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Newcrest Mining reports drop in gold production, claims tourism can make strong contribution to Papua New Guinea economy and reports that foreign exchange shortage improving. Your weekly digest of the latest business news.