The Porgera gold mine in Enga Prince looks set to reopen later this year after the Papua New Guinea Government and mine operator Barrick Gold reached a ‘binding framework agreement’ to share future benefits from the mine and boost local ownership.
In brief: Prime Minister says deal for Porgera’s reopening imminent and other business stories
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7 Apr 2021 by Leave a Comment
Prime Minister Marape says government is ‘poised to sign’ a deal to reopen the Porgera mine, World Bank to help PNG Power and OK Tedi Mining resumes operations.
In brief: Reopening Porgera ‘will have a more immediate restorative effect’ and other business stories
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8 Feb 2021 by Leave a Comment
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.
2020: the year in review for Papua New Guinea business
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9 Dec 2020 by 1 Comment
COVID-19, Porgera and politics may have monopolised the attention of the media, but 2020 brought many other challenges, unexpected changes and triumphs for business. Here’s how Business Advantage PNG reported on this extraordinary year.
In brief: Dirio Gas and Power project launched and other business stories
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23 Nov 2020 by Leave a Comment
The Dirio project gets commissioned, Barrick distances from Papua New Guinea’s political turmoil and state-owned enterprises reform on track. The business stories you need to kickstart your week.
Metal mayhem: Barrick set to re-open Porgera; Chairman quits Kumul Minerals
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19 Oct 2020 by 1 Comment
In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.
‘SMEs are hurting’: ANZ’s Mark Baker on the bank’s post-COVID challenges in Papua New Guinea
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28 Sep 2020 by 2 Comments
Renegotiating terms or refinancing are proving to be the best way to deal with the shock caused by COVID-19 according to Mark Baker, Managing Director of ANZ Bank Papua New Guinea. In an exclusive interview he tells Business Advantage PNG that improving confidence is the big challenge.
In brief: ADB approves K87 million telecommunications investment in Papua New Guinea and other business stories
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7 Sep 2020 by Leave a Comment
The Asian Development Bank approves a multi-million kina investment in telecommunications in Papua New Guinea, Investment Promotion Authority looks to make doing business easier, and Fortescue Metal Group announces plans for hydropower projects in PNG. The business news you need to kickstart your week.
Papua New Guinea Government moves to take over Porgera lease
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31 Aug 2020 by 6 Comments
Papua New Guinea’s government has moved to effectively take over the Porgera gold mine in Enga Province by issuing a Special Mining Lease to state-owned mining company, Kumul Minerals Holdings. Legal challenges look likely.
In brief: Oil Search planning strategic review and other business stories
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27 Jul 2020 by 1 Comment
Oil Search to undergo a strategic review, Newcrest remains positive about Wafi-Golpu and public consultation on internet pricing. The news you need to kickstart your week.
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