Landowner companies benefit from PNG LNG project, PNG Government takes Woodlark stake, and Buka Airport disrupted by shut down. Your weekly digest of the latest regional business news.

Almost K11 billion (US$4.5 billion) had been spent on landowner and non-landowner companies by the PNG LNG project up until the start of production earlier this year, according to the project’s second quarter environmental and social report. The project has employed more than 55,000 workers since the construction phase began, including an increase of 21,220 over the past two years.

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Kula Gold Ltd has received confirmation that the Papua New Guinea Government has decided to acquire a five percent interest in the Woodlark Island gold project in Milne Bay province. The company said this was further evidence of the strong support it was receiving from government and local communities for development of the mine.

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Buka Airport in Bouganville was shut down by angry landowners on Tuesday, leaving flights and the plans of travelers disrupted. It was reported that the landowners overturned luggage trolleys, parked vehicles on the runway and alerted authorities of the airport’s closure.

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The European Union (EU) will provide K15 million in aid to Papua New Guinea’s cocoa industry under a project with the World Bank. It is planned for the funding to support East New Britain and Bougainville.

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Mine developer Ramu Nico Management Ltd has assured stakeholders of the Ramu nickel and cobalt project that no significant environmental incident has occurred during the commissioning period for the mining prospect.

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Prime Minister Peter O’Neill has promised the people of Western Highlands that infrastructure projects in the province would take Mt Hagen to the next level of a modern city. O’Neill said construction on the Kagamuga airport redevelopment and Provincial headquarters was under way, while work on the Highlands highway would start next year.

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Opposition leader Sam Basil has urged the Papua New Guinea Government to establish a task force that will respond to issues of food security, increased pollination and income opportunities for honey farmers in Eastern Highlands.

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In a visit to Papua New Guinea last week, Hyundai Energy and Resources Ltd president B.J. Yang showed interest in Korea exploring new investment opportunities with the country.

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Nadi International Airport in Fiji

Fiji Link, the domestic subsidiary of Fiji Airways, has this week relocated its operations to a new terminal at Nadi International Airport as a way of streamlining its operations.

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Coffee Industry Corporation Ltd has issued the community of Bundi in Madang province with an export licence and a K2 million boost to the region’s expansion program.

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A new report says cruise tourism is bringing more than US $31 million US dollars into the Vanuatu economy each year.

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Tonga has become the first country to pass laws managing seabed mineral activities within its national marine space and under its sponsorship in international waters.