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.
In brief: Oil and Gas Act to be amended and other business stories
Welcome,
9 Sep 2019 by Leave a Comment
The intensifying debate over the future of Papua New Guinea’s mining industry
Welcome,
19 Aug 2019 by Leave a Comment
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
Welcome,
5 Aug 2019 by Leave a Comment
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
Welcome,
15 May 2019 by Leave a Comment
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
Welcome,
13 May 2019 by Leave a Comment
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
Welcome,
10 Apr 2019 by Leave a Comment
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.
In brief: Papua LNG project to put Papua New Guinea as leading LNG exporter, and other business stories
Welcome,
15 Jan 2019 by Leave a Comment
Forex turnover more than K4b in October, call for joint PNG-Australia coastguard initiative, and one kina chocolate bar on sale locally. Your weekly digest of the latest business news.
MOU signed for Wafi-Golpu copper-gold mine in Papua New Guinea
Welcome,
21 Dec 2018 by 1 Comment
Developers Newcrest Mining and Harmony Gold have signed a memorandum of understanding with the Papua New Guinea Government for the development of the Wafi-Golpu copper-gold mine in PNG’s Morobe Province. While the MOU indicates negotiations are proceeding well, there is still plenty of work to be done before the project gets a green light from government, local communities and investors.
Electrification Partnership beginning of new era for PNG Power
Welcome,
12 Dec 2018 by 3 Comments
Carolyn Blacklock, the acting Managing Director of PNG Power, says the money that will come from the Papua New Guinea Electrification Partnership established at APEC will greatly assist the roll out of electricity. She says PNG Power has sharply increased the number of connections it is making and is aiming to concentrate on hydropower.
O’Neill to announce preliminary agreements for Papua LNG and Wafi-Golpu to coincide with APEC Leaders Meeting
Welcome,
7 Nov 2018 by Leave a Comment
The Prime Minister Peter O’Neill has announced that Heads of Agreements will be signed for the Wafi-Golpu mine and Papua LNG project, to coincide with the APEC Leaders Week. In a pep to talk to business last week, he emphasised the benefits of hosting APEC 2018.
USD 0.2940
AUD 0.4279
GBP 0.2380
EUR 0.2656
NZD 0.4589
JPY 31.78
SGD 0.4039
Recent readers’ comments