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.

Mining in Papua New Guinea: a sector profile

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A profile of the mining sector in Papua New Guinea, including mining companies, licenses and leases and tax incentives.

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In Brief: Papua New Guinea’s Treasurer warns of ‘big and painful’ cuts in Tuesday’s Supplementary Budget and other business stories

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Treasurer says Papua New Guinea’s Budget deficit far worse than expected, Phillipines to export 5,000 mt of high quality rice to PNG, and Paradise Foods sells its spice business. Your weekly digest of business news.

In brief: Papua New Guinea approves progress of Pasca LNG project

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Twinza Oil (PNG) to progress Pasca LNG project, Papua New Guinea’s Prime Minister has said that a Supplementary Budget may be announced within the next few weeks, and the Coral Sea Cable project is nearing completion. Your weekly digest of business news.

Reasons why superannuation is critical to building a strong organisational culture in Papua New Guinea

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Six Papua New Guinean companies discuss the benefits of superannuation contributions and share with Business Advantage PNG why it can help companies reduce attendance problems and increase loyalty through super.

Aiming High: Papua New Guinea’s Hindenburg Wall

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Adrian Mathias reports on efforts to shine the spotlight on the Hindenburg Wall, one of Papua New Guinea’s hidden natural attractions.

People moves: PanAust, Mineral Resources Authority, KPMG, Ok Tedi Mining, Judicial appointments

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Board and senior management changes at PanAust, a new Managing Director at the Mineral Resources Authority, a new Tax Partner at KPMG, Ok Tedi’s first female Mine Manager and judicial appointments for the National and Supreme Courts.

Independent mining consultant questions Papua New Guinea government role as both shareholder and regulator

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To remain impartial, the Papua New Guinea Government should not be a shareholder, but only maintain regulatory oversight of mining projects, according to geologist and mining consultant, Jerry Nombri Garry. He tells Business Advantage PNG, there are other ways for the country to derive healthy revenues from mining projects.

Earthquake to have ‘huge impact’ on Papua New Guinea economy, says Prime Minister

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Last month’s earthquake in Papua New Guinea will have a ‘huge impact’ on the economy, says Prime Minister Peter O’Neill. The death toll is rising, the extent of the destruction and disruption to services and businesses is still being assessed, and the damage to the PNG LNG project is expected to affect government revenues.

Stronger copper price a boost for Ok Tedi but further rises needed for rest of the sector

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The copper price has increased by about a quarter in 2017, although it is still below its 2013 highs. Stephen Howes, Director of the Development Policy Centre at ANU tells Business Advantage PNG that the  boost in the copper price is important for Papua New Guinea, in particular, Ok Tedi.