As Papua New Guinea’s commercial and manufacturing hub, Lae is critical to the national economy. However, businesses in the city are having to manage a number of critical impediments, as John Byrne, President of the Lae Chamber of Commerce and Industry, shares in this opinion piece for Business Advantage PNG.
After delays to key resources projects Papua LNG and Wafi-Golpu, there are signs that final investment decisions and other key milestones are drawing closer. Meanwhile, M&A activity in the sector is heating up.
Looking back over the history of resources development in Papua New Guinea, the need for patience and persistence is clear.
Newmont Corporation’s Tom Palmer tells Business Advantage PNG that Papua New Guinea fits well within company’s strategy, but cautions that the prospective Wafi-Golpu copper-gold project will need to compete for capital with other projects in portfolio.
Sarimu Kanu, Managing Director of state-owned miner Kumul Minerals Holdings, gives an update on the progress of the Wafi-Golpu mine project to Business Advantage PNG, and outlines the company’s strategy to consolidate some of Papua New Guinea’s smaller mining projects.
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.
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 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.
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.
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.