In brief: Reopening Porgera ‘will have a more immediate restorative effect’ and other business stories

Welcome,

Foreign exchange pressures continue to escalate, the Executive Director of the Institute of National Affairs talks about the ‘restorative effect’ reopening Porgera could have, and Oil Search back on track.

In brief: Bougainville’s President ends speculations about the future of Panguna and other business stories

Welcome,

President Ishmael Toroama says Bougainville is not ‘colluding’ with third parties to reopen Panguna, new project to increase regional and international trade in the Pacific, and potential date for the launch of ISEZ’s project program.

Joint consultations on the future of Bougainville trigger speculation on the future of Panguna mine

Welcome,

A joint communique issued earlier this month by Papua New Guinea’s Prime Minister James Marape and new Bougainville President Ishmael Toroama has committed them to moderated ‘joint consultations’ over the autonomous region’s desired independence. It has again brought focus on the future of the island’s massive Panguna copper and gold mine.

How to deal with resource sector volatility in Papua New Guinea

Welcome,

The World Bank has released a new report, which provides a bullish assessment on economic growth in Papua New Guinea. But it says the country’s dependence on natural resources is not generating sufficient jobs to absorb its growing population.

Bougainville Copper Limited committed to reopening the Panguna mine

Welcome,

The chairman of Bougainville Copper Limited (BCL), Sir Mel Togolo, has confirmed the company is talking to prospective partners about reopening the mine. But he is unwilling to put a date on when it might reopen.

In Brief: World Bank report predicts 5 per cent GDP growth for Papua New Guinea and other business stories

Welcome,

New World Bank report predicts 5% GDP growth for Papua New Guinea in 2019, consumer protection in financial services, and Bloomberg puts a value on Panguna mine. Your weekly digest of the latest business news.

Perth exploration company Kalia Ltd wins first gold and copper exploration licence under new Bougainville Mining Act

Welcome,

Perth-based explorer Kalia Ltd has begun geological surveys on its two licence areas, after winning exploration licences under the new Bougainville Mining Act. Managing Director Terry Larkan tells Business Advantage PNG that, while the licence areas’ resources are unknown, the licences have ‘the right address’.

In brief: Tuna fishing rebate changes favour on-shore processors, and other business stories

Welcome,

New fishing rebate scheme favours on-shore processors, coffee producer says poor roads in Western Highlands devalues coffee, and Lae laments loss of Alan McLay. Your weekly digest of the latest business news. Trade Minister, Wera Mori, says a threat by foreign fishing firms to close their processing facilities, after the government ended the rebate on […]

What is stopping Papua New Guinea’s Panguna mine from re-opening?

Welcome,

The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.

In brief: O’Neill says Papua New Guinea government has no interest in owning Panguna mine, and other business stories

Welcome,

O’Neill not interested in buying Rio Tinto’s 53% of Bougainville Copper Limited, central bank governor warns government to restrain spending, and kina falls against most currencies in September quarter. Your weekly digest of the latest business news.