Changes to Papua New Guinea’s Mining Act ‘imminent’

Welcome,

Proposed changes to the Mining Act are likely to go to Papua New Guinea’s Cabinet ‘in the next few weeks,’ according to Peter Graham, Managing Director of Ok Tedi Mining.

Life in Papua New Guinea after Ok Tedi

Welcome,

As the Ok Tedi gold and copper mine nears the end of its current mine life, the Ok Tedi Development Foundation has launched a five-year plan to create economic self-reliance for the people of Western Province. Kevin McQuillan reports.

Papua New Guinea state loses US$1.4 billion PNGSDP legal battle

Welcome,

The State of Papua New Guinea has lost its attempt in the Singapore High Court to wrest control of the remaining assets of PNG Sustainable Development Program Ltd (PNGSDP), worth US$1.4 billion (K4.72 billion).

Ok Tedi ramping up exploration

Welcome,

With only 10 years of estimated current mine life, Ok Tedi Mining is working hard to optimise production and maximise profit at Papua New Guinea’s largest copper mine, says CEO Peter Graham.

In brief: Government seeks more revenue from fishing, and other business stories

Welcome,

Government to seek more revenue from fishing, three provinces to be granted autonomous status and the Government claims the right to acquire land for the Highlands Highway construction work. Your weekly digest of the latest business news.

Ok Tedi has moved from ‘death row’ to a ‘sweet spot’, says CEO

Welcome,

The Chief Executive of copper and gold producer Ok Tedi Mining, Peter Graham, believes the Papua New Guinean company will enjoy a ‘sweet spot’ in the next few years. He says efficiency gains have substantially improved the mine’s competitiveness.

In brief: Oil Search says there is ‘distribution’ problem with payouts, and other business news

Welcome,

Oil Search acknowledges problems with payouts, Frabelle denies shut down and the ICCC starts legal proceedings against Steamships. Your weekly digest of the latest business news.

Ok Tedi likely to have extended mine life, says CEO

Welcome,

The Chief Executive of Papua New Guinea’s Ok Tedi mine, Peter Graham, tells Business Advantage PNG that the company is now in the top quartile of global copper producers. He says revised company estimates indicate the mine—for many years one of PNG’s major sources of foreign exchange—should have a longer life. The company responsible for PNG’s largest operational mine is considering the […]

In brief: Asian Development Bank downgrades Papua New Guinea’s growth outlook, and other business stories

Welcome,

Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.

In brief: Papua New Guinea forex pressure to ease by the end of April says BSP CEO, and other business stories

Welcome,

Ok Tedi’s cashflow plus new loan to ease foreign exchange situation, feasibility study to look at water pipeline from Highlands to Queensland, and illegal fishing in Pacific costs US$660 million a year. Your weekly digest of the latest business news.