Production issues hit Newcrest, Digicel launches cloud-based product, and Mitsui delivers PNG LNG carrier. Your weekly digest of the latest business news.
PanAust
PNG Government signs agreement with PNG LNG project partners, UN expects significant economic growth in PNG, and National Petroleum Company to revise annual plan following oil crash. Your weekly digest of the latest business news.
New senior appointments at NASFUND, a new director at Steamships, and a new Managing Director at PanAust
The extension project at Lae Port reaches a conclusion, PanAust feasibility study at Freida River on target, National Executive Council endorses PNG Sovereign Wealth Fund. Your weekly digest of the latest business news.
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.
Japan funding K2 billion for roads and bridges, the National Executive Council prevents PNG Power from defaulting on overdraft and PanAust buys 80% share of Frieda River project. Your weekly digest of the latest business news.
PanAust Managing Director stepping down, new board members at Rio Tonto and IndoChine and other senior appointments.
Next week’s Papua New Guinea Mining and Petroleum Seminars in Port Moresby will highlight the increasing divergence in fortunes of PNG’s mining and petroleum sectors, according to Greg Anderson, Executive Director of the Papua New Guinea Chamber of Mines and Petroleum.
The entry of PanAust—a new player in PNG’s mining sector—is good news for the giant Frieda River gold and copper mining project in East Sepik Province. The move has also been welcomed by analysts.
While its aims of encouraging small and indigenous business are universally supported, the Papua New Guinea Government’s recent dealings with investors have created a ‘feeling of unease’ in some business circles.