Newcrest Mining still waiting to resume discussions over ‘premier’ Wafi-Golpu project, says senior executive

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Newcrest Mining Ltd is still waiting to resume discussions with the Papua New Guinea government to grant a Special Mining Lease to start developing the Wafi-Golpu gold-copper project. The enforced delay has given the company license to focus on its other projects, reports David James.

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Prime Minister Marape flags more support for small business and less for future resources projects

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Prime Minister James Marape has outlined a two-pronged economic strategy to boost Papua New Guinea’s economy. He has also commented on the government’s attempts to manage the country’s rising debt, reports David James.

Mining in Papua New Guinea: a sector profile

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A profile of the mining sector in Papua New Guinea, including mining companies, licenses and leases and tax incentives.

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A tale of two cities: why successful investment in Lae is a boost for Port Moresby

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Lae, Papua New Guinea’s second-largest city, is again emerging as a key location for investment. Far from drawing investors away from capital Port Moresby, a buoyant Lae could actually be good for both cities, say representatives from the two cities’ business chambers.

In brief: Oil and Gas Act to be amended and other business stories

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Changes to the Oil and Gas Act, Prime Minister James Marape has announced that he wants to get the Wafi-Golpu gold mine ‘operational at the soonest’, and opposition leader Patrick Pruaitch has presented a case to challenge Marape’s election as prime minister. Your weekly digest of business news.

The intensifying debate over the future of Papua New Guinea’s mining industry

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The mining industry needs government help to solve an exploration crisis, according to industry representatives. But government bodies are saying there needs to be a better sharing of the rewards in the national interest. Business Advantage PNG looks at the contrasting views of the industry and the state.

In brief: Porgera mine to continue operations and other business stories

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Operations at Porgera mine will continue while the application for the Special Mining Lease is revised, concerns about the delay in the approval of the Ramu 2 project, and Wafi-Golpu still before court. Your weekly digest of business news.

Conditions tough in Papua New Guinea’s construction industry but hopes are rising

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Papua New Guinea’s construction industry continues to face challenges, says Frank McQuoid, Chairman of manufacturer Steel Industries. But others say it is on the edge of a boom that will extend beyond the resource sector. David James examines both sides of the story.

Papua New Guinea’s National Court puts Wafi-Golpu negotiations on hold pending hearing

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Discussions between Papua New Guinea government agencies and the developers of the US$9 billion Wafi-Golpu copper-gold project have been put on hold by the country’s National Court while it considers an application for leave for a judicial review. Meanwhile, work under the project’s exploration licence continues. 

Bank of Papua New Guinea urges tougher stance on new resources projects

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The March Monetary Policy Statement from the Bank of Papua New Guinea has urged the government to rethink the way it negotiates concessions and tax exemptions with new resources projects. Taking a strong position, it points to how previous agreements have been a factor in foreign exchange shortages and adverse trends in government finances.