Kingston Resources Ltd reaches an agreement to buy Pan Pacific Copper out of Misima gold project, Papua New Guinea’s new Minister for Environment and Conservation refutes previous investigations on Ramu Nico’s slurry spillage to the Basamuk, and PNG DataCo predicts a 42 per cent slash in internet prices. Your weekly digest of business news.
The creation of a one-stop shop US development bank will see a doubling of available infrastructure funding for Asia-Pacific projects, and is expected to boost the PNG Electrification Partnership. It comes as the US, Australia and Japan have unveiled the Blue Dot Network, an initiative designed to compete with China’s Belt and Road Initiative in the Pacific region.
Acting Managing Director Carolyn Blacklock has resigned from state-owned utility, PNG Power. The announcement comes with the state-owned utility on the cusp of launching a new ‘reform agenda’.
Papua New Guinea’s stock exchange changes its name, Oil Search signs MoU to help sustainable agriculture, and PNG Power reviews financial reporting. Your weekly digest of business news.
A big plan to connect 70 per cent of Papua New Guinea to power by 2030 grabbed headlines. Delivering is the true challenge, explains Shane McLeod, research associate working with the Lowy Institute’s Australia-PNG Network.
In Brief: Papua New Guinea’s government reaffirms its commitment to the development of the petroleum and energy sectors and other business stories
Power projects in Papua New Guinea are notorious for taking a long time to get up and running, Independent Power Producers of Papua New Guinea Industry Group Chairman David Burbidge tells Business Advantage PNG. But the group may have a solution.
Carolyn Blacklock, the acting Managing Director of PNG Power, says the money that will come from the Papua New Guinea Electrification Partnership established at APEC will greatly assist the roll out of electricity. She says PNG Power has sharply increased the number of connections it is making and is aiming to concentrate on hydropower.
Kumul Consolidated Holdings, the holding company for Papua New Guinea’s state-owned enterprises (SOEs), has released its Year in Review. It says that 2018 has been ‘particularly difficult and challenging’ for the country’s SOEs and that a fundamental change is necessary if the enterprises are to expand.
Lihir most productive mine, apprentice of the year named, and a public-private partnership for power in Hela. Your weekly digest of the latest business news.