Superannuation company Nasfund continues to deliver positive returns to its members, Chief Executive Ian Tarutia tells Business Advantage PNG. But weak economic conditions in Papua New Guinea, foreign exchange restrictions and rising unemployment mean the organisation has to be agile.
Agility keeps NASFUND ahead in tougher investment climate says CEO Ian Tarutia
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24 Jan 2017 by 1 Comment
‘Roller coaster ride’ is forcing gas players to aggressively pursue efficiencies says President of PNG Chamber of Mines and Petroleum, Gerea Aopi
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23 Jan 2017 by 1 Comment
Large scale gas projects suit multi-operators, says Gerea Aopi, President of the PNG Chamber of Mines and Petroleum. He tells Business Advantage PNG that this allows operators in Papua New Guinea to spread the fixed costs, which is one way that the industry is looking for productivity improvements.
Why many Papua New Guinea companies become conglomerates
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16 Jan 2017 by Leave a Comment
Conglomerates have become rare in developed economies; the strategy of diversifying across different industry sectors tends to be punished by investors who prefer specialized players. But in Papua New Guinea industry diversification is commonly used as a way to grow.
Sticking points in Mining Act yet to be resolved, says Mining Minister Byron Chan
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9 Jan 2017 by Leave a Comment
The Minister for Mining, Byron Chan, says that the amendments to Papua New Guinea’s Mining Act are ‘complete’. But he tells Business Advantage PNG that there are some contentious issues.
Signs of real recovery as big money shows interest in large resource projects
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14 Dec 2016 by Leave a Comment
Sovereign wealth funds, private equity and ‘mega-families’ are showing a growing interest in investing in large resource projects, according to Graham Smith, Global Leader Mining M&A at KPMG Corporate Finance in Australia. The PNG Mining and Petroleum Investment conference was told that investment, debt and equity markets are showing signs of improvement.
Wafi-Golpu mine in Papua New Guinea could operate for over three decades, says project director
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14 Dec 2016 by 6 Comments
The Wafi-Golpu project can be ‘multi-generational’ according to Bryan Bailie, Executive Project Director of the Wafi-Golpu Joint Venture. He told the PNG Mineral and Petroleum Investment Conference in Sydney that the intention is to roll out the project in stages.
Papua New Guinea’s Frieda River project still faces obstacles, says Managing Director Fred Hess
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14 Dec 2016 by 1 Comment
PanAust is keen to start development of the Frieda River copper gold project, Managing Director Fred Hess told the PNG Mining and Petroleum Investment Conference in Sydney. But he warns there are many obstacles to establishing a mine in such a remote region of Papua New Guinea and the decision has not yet been made to go ahead.
Mining Act decision to be postponed until after election says Peter O’Neill
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6 Dec 2016 by Leave a Comment
The Prime Minister, Peter O’Neill, has told the Mining and Petroleum Investment Conference in Sydney that there will be no decision on the Mining Act until after next election. He also indicated that the Government will pursue bi-lateral trade deals.
Credit & Data Bureau improving financial accountability in Papua New Guinea, says MD Bruce Mackinlay
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22 Nov 2016 by Leave a Comment
The World Bank’s Ease of Doing Business singled out a new private credit bureau as having ‘improved the credit information system in Papua New Guinea.’ Bruce Mackinlay, Managing Director of the Credit & Data Bureau, tells Business Advantage PNG that the organisation is improving the country’s transparency and accountability.
Kina to continue to ease until 2018, putting pressure on foreign exchange, according to ANZ
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15 Nov 2016 by Leave a Comment
Papua New Guinea has an improving current account, says Cameron Bagrie, New Zealand Chief Economist for the ANZ Bank. But he says if the financial imbalances are to be dealt with effectively, there needs to be a plan for fiscal consolidation and attention to small details at the microeconomic level.
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