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

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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).

In Brief: Election campaign period to last eight weeks, and other business stories

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Electoral Commissioner says campaign period will last eight weeks, Ombudsman suspends release of development funds until after the election and cocoa production back to average levels before borer struck. Your weekly digest of the latest business news.

Papua New Guinea cocoa production rising but borer disease a constant threat

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Papua New Guinea’s cocoa industry is recovering from the pest, but the cocoa pod borer (CPB) still presents a major challenge and is unlikely ever to be fully eradicated, Cocoa Board of PNG project manager John Moxon tells Business Advantage PNG.

Ok Tedi mine closure could cost Papua New Guinea K2.7 billion

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The El Nino weather pattern which has seen the temporary closure of the Ok Tedi mine could potentially last for up to a year, according to former senior PNG agriculture business executive, Bob Hansen, adding the loss of mining income could be as much as K2.77 billion a year.

In brief: Court refuses to hear Ok Tedi claim, and other business stories

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International court refuses to hear claim about government takeover of Ok Tedi mine, five percent aid cut to PNG and trial export of fresh vegetables to Fiji. Your weekly digest of the latest business news.   The International Court for the Settlement of Investment Disputes has declined to hear PNG Sustainable Development Program’s claims against the Government […]

In brief: Deal to purchase Motukea for port relocation signed, and other business stories

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State Solicitor refuses approval for purchase of Motukea island land for port relocation, Confusion over Ok Tedi compensation payments, report says PNG state-owned enterprises under performing compared to Pacific counterparts. Your weekly digest of the latest business news.