Over two-thirds of Papua New Guinean businesses have experienced a ‘very negative’ impact from the COVID-19 crisis, according to a recent survey. Uncertainty over the duration of the crisis is considered to be the greatest challenge.
The great unknown: survey suggests uncertainty the biggest threat to Papua New Guinean businesses
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22 Jul 2020 by Leave a Comment
Why Papua New Guinea may never benefit from China’s Belt and Road
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22 Jul 2020 by 1 Comment
Papua New Guinea signed up to China’s Belt and Road initiative in 2018 but this is unlikely to result in significant investment, according to Dinny McMahon, author of China’s Great Wall of Debt.
What the International Monetary Fund is doing in Papua New Guinea
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15 Jul 2020 by 1 Comment
With Papua New Guinea’s government debt set to rise to over 40 per cent of GDP due of the COVID-19 crisis, the International Monetary Fund’s PNG Mission Chief, Scott Roger, explains how the IMF is helping the country get back on a sustainable financial course.
Papua New Guinea heading for negative growth this year, says World Bank
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13 Jul 2020 by 3 Comments
Presenting the latest World Bank economic update for Papua New Guinea, PNG country economist Ilyas Sarsenov says its government has responded well to the challenges of COVID-19 but hard choices lie ahead.
Ripple effects: how the global pandemic is affecting oil and gas in Papua New Guinea
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6 Jul 2020 by Leave a Comment
The COVID-19 crisis has profoundly shaken the global oil and gas industry. With the medium term picture for LNG prices likely to heavily impact PNG’s economy and government finances, Business Advantage PNG looks at the sector’s prospects.
Fair split: finding an oil and gas model that works in Papua New Guinea
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1 Jul 2020 by Leave a Comment
Papua New Guinea is making changes to its approach to oil and gas projects, suggesting the country gets a worse share of revenues than other comparable nations. John Chambers, General Manager of Santos, considers some of the options used internationally.
Oil and gas prices recover: our monthly review of Papua New Guinea’s commodities and financial markets
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29 Jun 2020 by Leave a Comment
Oil and LNG prices have recovered to some extent and copper has also bounced back. Palm oil prices have strengthened but cocoa is weaker. Business Advantage PNG’s monthly overview of commodity and financial markets.
Tools down: Papua New Guinea’s Porgera gold mine starts sacking workers
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29 Jun 2020 by 16 Comments
Barrick Niugini, the majority owner and operator of the Porgera gold mine, has announced that it will be retrenching most of its workforce over the coming weeks. Meanwhile, Papua New Guinea’s government seems intent of finding a new operator for the mine.
Very resourceful: how K92 Mining has thrived during COVID-19 in Papua New Guinea
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24 Jun 2020 by Leave a Comment
Mining companies in Papua New Guinea have been able to keep operating during the COVID-19 crisis. John Lewins, Chief Executive Officer and Director of K92 Mining, says his company actually ‘set records’.
Amendments to Papua New Guinea’s Mining Act provide for State to take a more active role
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17 Jun 2020 by 7 Comments
Amendments to the Mining Act 1992 have been passed in parliament, with Mining Minister Johnson Tuke explaining it is a step towards ‘taking back’ Papua New Guinea. Meanwhile, industry representatives have expressed some deep concerns.
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