The PNG Chamber of Mines and Petroleum pledges to join help with COVID-19 efforts, news on the Simberi gold mine revised MOA and a new report highlights strategies to help the coffee industry. Your business news in brief.
Papua New Guinea Chamber of Resources and Energy (PNG CORE)
Papua New Guinea should seek to attract more foreign investment in the wake of the COVID-19 crisis. But many of its policies are going in the opposite direction, according to Paul Barker, Executive Director of the Institute of National Affairs.
Business in Papua New Guinea has responded well to COVID-19 but is now facing a downturn at the lower end of expectations. David Toua, board member of the Business Council of Papua New Guinea says the focus now needs to turn to the economy.
The Papua New Guinea government’s proposal to move to production sharing agreements in resource projects may not solve the government’s financial problems and there is a risk it will harm the country’s reputation for being a good place to invest, according to the industry itself.
The Parliament of Papua New Guinea has passed a series of amendments targeting the mining, oil and gas industries. Law firm Allens examines the significance of these amendments and the likely next steps.
Mining companies in Papua New Guinea have been able to keep operating during the COVID-19 crisis. John Lewins, Chief Executive Officer and Director of K92 Mining, says his company actually ‘set records’.
Papua New Guinea’s mining sector recorded its lowest result for five years in the Fraser Institute’s annual Investment Attractiveness Index. We consider the reasons, and their impact on PNG’s global competitiveness.
The Papua New Guinea’s Petroleum Minister has said he will put forward a bill on the proposed National Petroleum Authority and Bougainville receives an extra $US700,000 to support its referendum. Your weekly digest of the latest business news.
A PPP agricultural venture mooted for Hela Province, first rice harvest from Morobe farm, and Rami Nicu leading the industry in red laterite development. Your weekly digest of the latest news.
Research by the Fraser Institute shows that Papua New Guinea rates ahead of several Australian states for attractiveness for mining investment. Gavin Wendt, Founding Director of resource analyst Minelife, says statements from Kumul Mineral Holdings’ Chairman Peter Graham that it will invest in upcoming projects are also a positive for foreign investors.