As part of extensive in-country research for the newly-released 2024 edition of the Business Advantage PNG annual magazine, our editorial team spoke exclusively to dozens of Papua New Guinea business leaders to understand how they are preparing for imminent growth – and what challenges they face. Here’s what they told us.
Resources boom to usher in ‘the most exciting ten years’ for Papua New Guinea: Prime Minister Marape
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31 Jan 2024 by Leave a Comment
James Marape, PNG’s Prime Minister, speaks exclusively about PNG’s next decade of economic growth, which he describes as potentially the most exciting in the nation’s history.
Newmont to list in Papua New Guinea as Newcrest acquisition is finalised
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25 Oct 2023 by 1 Comment
Newmont Corporation’s acquisition of Newcrest Mining, which owns the Lihir gold mine in Papua New Guinea, and is one of the partners in the Wafi-Golpu copper-gold joint venture, is set to be completed in coming days. Business Advantage PNG considers what will happen next.
In brief: PNG Power’s tariffs rise for the first time in a decade and other stories
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1 Aug 2023 by Leave a Comment
Energy regulator announces an increase in power prices to support the rehabilitation of PNG Power, Nambawan Super threatens to lock out its government tenants and Wafi-Golpu negotations continue. Your business news in a nutshell.
Papua New Guinea’s Kumul Mineral Holdings set for expansion
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31 Jul 2023 by Leave a Comment
The role and revenues of state-owned Kumul Minerals Holdings are set grow significantly as it prepares to add a major stake in the Porgera gold mine to its portfolio. Business Advantage PNG asks recently-appointed Managing Director Sarimu Kanu about his vision for the company.
Mega miner: Newcrest Mining finally agrees to tie the knot with Newmont
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24 May 2023 by 1 Comment
There’s every likelihood that a takeover of Newcrest Mining by Newmont Corporation will be completed by the end of this year. But how will this affect Newcrest’s Papua New Guinea-based assets – the Lihir gold mine and the Wafi-Golpu project?
Latest agreement puts Wafi-Golpu copper/gold project back on track
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19 Apr 2023 by 5 Comments
A landmark memorandum of understanding between the PNG government and the Wafi-Golpu Joint Venture participants, Newcrest Mining and Harmony Gold, marks the key step towards the granting of a special mining lease for the Wafi-Golpu copper-gold mine, the application for which was first lodged back in August 2016.
Economic update 2023: Papua New Guinea’s year of gearing up
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28 Mar 2023 by 3 Comments
With the worst of the COVID pandemic behind it, Papua New Guinea is preparing itself for a decade of sustained economic growth. While the investments that will drive this growth are still being finalised, business leaders tell Business Advantage PNG the country is already starting to get ready.
In brief: Papua New Guinea’s banking sector gets ready for more competition and other business stories
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15 Feb 2023 by Leave a Comment
Central Bank awards in principle banking licence to Credit Corporation, Japanese delegation visits proposed Special Economic Zone locations in Papua New Guinea, and Newmont’s proposal to combine with Newcrest Mining. Your business news in summary.
Newcrest approves Lihir mine expansion in Papua New Guinea
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1 Feb 2023 by 2 Comments
Newcrest Mining has approved a A$280 million (K696 million) expansion of its Lihir mine, following board endorsement of its Phase 14A feasibility study. The decision is set to deliver higher gold production and may extend mine-life.
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