The Porgera gold mine in Papua New Guinea’s Enga Province is a world class gold mine but, as Executive Director for Barrick (Niugini) Ila Temu explains, it is also one of the world’s most difficult mines to operate.
World Bank releases bullish assessment of Papua New Guinea economy
Welcome,
4 Mar 2019 by 3 Comments
The Papua New Guinean economy is set to surge in 2019 and stabilize in subsequent years, according to a report by the World Bank. David James takes a closer look.
LNG and palm oil prices down, but oil up: a monthly review of Papua New Guinea’s commodity and financial markets
Welcome,
27 Feb 2019 by Leave a Comment
Oil prices have been strong, but LNG prices have weakened sharply. Oil palm and coffee prices have fallen, but cocoa prices are steady. Business Advantage PNG’s monthly overview of commodity and financial markets.
Papua New Guinea’s new finance sector strategy a response to ‘staggering’ growth
Welcome,
20 Feb 2019 by Leave a Comment
Massive growth in participation has forced the Papau New Guinea Government to come up with new strategies for the finance sector and financial inclusion. Business Advantage PNG’s David James reviews the strategies and finds a greatly enhanced role for the central bank.
Ok Tedi ramping up exploration
Welcome,
15 Feb 2019 by Leave a Comment
With only 10 years of estimated current mine life, Ok Tedi Mining is working hard to optimise production and maximise profit at Papua New Guinea’s largest copper mine, says CEO Peter Graham.
Frieda River mine expands into Sepik Development Project
Welcome,
11 Feb 2019 by 3 Comments
The US$8 billion (K26.5 billion) Sepik Development Project at Frieda River will create ‘a new economic corridor’ in PNG’s northwest. Developer PanAust is suggesting it could give employment to about 5000 people during construction and increase Papua New Guinea’s GDP by K90 billion over 40 years.
Global mining industry still recovering from a ‘great big party’
Welcome,
8 Feb 2019 by Leave a Comment
The global mining industry is still in a ‘big hangover’, says Newcrest Mining’s Chief Development Officer, Michael Nossal. He tells an industry event that improving productivity is now the name of the game, as the industry waits for the interest from investors to return.
Drop in new LNG capacity and surging China demand will benefit Papua New Guinea
Welcome,
5 Feb 2019 by Leave a Comment
The global gas market is set to surge, according to Justin Smirk, Senior Economist at Westpac. He told a recent Port Moresby Chamber of Commerce and Industry meeting that Papua New Guinea is well placed to benefit.
Commodities: LNG prices down, oil prices steady and coffee up
Welcome,
29 Jan 2019 by Leave a Comment
In the agribusiness sector coffee prices have risen, while prices in the hydrocarbons sector are largely unchanged, and metals prices are steady or lower. Business Advantage PNG’s monthly review of Papua New Guinea commodities and financial markets.
Papua New Guinea’s fiscal regime for resources projects ‘fair,’ says Santos GM
Welcome,
29 Jan 2019 by Leave a Comment
Papua New Guinea has a ‘fair and reasonable’ fiscal regime for resources when compared with its neighbours Australia and Indonesia, according to John Chambers, General Manager PNG for Santos. He outlines three approaches used around the world to deliver benefits from projects.
USD 0.2522
AUD 0.3872
GBP 0.1994
EUR 0.2391
NZD 0.4296
JPY 39.13
SGD 0.3387
Recent readers’ comments