Geopacific Resources’ ‘phenomenal’ Woodlark project to produce gold within 18 months

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Australian miner Geopacific Resources has secured funding to develop the gold mine on Papua New Guinea’s Woodlark Island in Papua New Guinea’s Milne Bay Province. Business Advantage PNG spoke exclusively to Chairman Ian Clyne and CEO Tim Richards about their expectations for the project.

In brief: growth projections for Papua New Guinea downgraded and other business stories

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Fitch Solutions downgrades growth projections for Papua New Guinea, St Barbara Ltd unveils promising feasibility study for its Simberi gold mine, and Kina Bank introduces fee-free account. The news in brief.

In brief: Chamber of Mines and Petroleum pledges to help Papua New Guinea with COVID-19 efforts and other business stories

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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.

Sticking points in Mining Act yet to be resolved, says Mining Minister Byron Chan

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The Minister for Mining, Byron Chan, says that the amendments to Papua New Guinea’s Mining Act are ‘complete’. But he tells Business Advantage PNG that there are some contentious issues.

Papua New Guinea mining sector: not all bad news

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The latest closure of the Ok Tedi mine reminds us that disruptions at major mining operations in Papua New Guinea are nothing new. While the closure is undoubtedly a setback, Business Advantage PNG’s survey of PNG’s other major mines suggests prospects for the mining sector are more positive.

In brief: Total to lead Elk-Antelope gas development, and other business stories

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Joint venture elects Total as operator, PNG DataCo discusses Solomon Islands link, and WCB Resources lifts stake in gold project. Your weekly digest of the latest business news.

Simberi owner St Barbara posts AUD$192 million loss

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ASX-listed gold producer, St Barbara Ltd, which owns the Simberi mine in Papua New Guinea’s New Ireland, has posted a full-year net loss of AUD$192 million (K409 million), due primarily to a lower gold price.