Prime Minister Peter O’Neill says the National Executive Council (Cabinet) will be meeting later this week to discuss the future of Rio Tinto’s shares in Bougainville Copper Ltd, some of which have been offered to the national government. He told the Loop discussions will also relate to LNG shares, Western Province Ok Tedi shares and others.

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Newcrest’s Lihir gold mine.

Gold production at the Lihir mine was up 10 per cent for the June quarter, according to Newcrest Mining. The company attributed the improved performance to a higher grade, increased throughput and improved recoveries. The quarterly production of gold at the mine was recorded at 240,000 ounces.

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The Mineral Resources Authority has granted permission for Ramu NiCo to resume logging operations at its Kurumbukari mine site, according to the company. A logging cessation order was imposed last August following a fatality.

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S P Brewery is to launch a new settlement tavern at Nine-Mile just out of Port Moresby, Loop PNG reports. It is claimed that the Settlement Tavern Project is aimed at alleviating social problems associated with alcohol, including drinking in public places and disturbing the peace in the community. Loop reports the project aims to roll out 20 taverns throughout the country with three taverns already set up at Gaire in Central Province, Baruni in the National Capital District and Nine-Mile Settlement.

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The Bougainville government has launched a tourism initiative, which will develop Buka town as a regional tourism hub. The Solomon Seas Tourism Zone Initiative Committee has been set up to help develop other potential tourism sites in Bougainville, Solomon Islands, Vanuatu and Fiji.

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The academic programs at the University of PNG and the University of Goroka are due to resume at the end of the month, after they were previously abandoned in the aftermath of the student protests against Prime Minister Peter O’Neill.

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The Chairman of Innovative Agro Industry, Ilan Weiss, says eggs from the Chicken, Grain and Cocoa project in the Sepik Economic Zone will be on sale by next July. The project has been launched as part of a Special Economic Zone development. Kumul Consolidated Holdings (KCHL) holds the State’s shares in the K55 million project.

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Air Niugini will start flying to the Federated States of Micronesia (FSM) next month, to coincide with the annual Pacific Islands Forum. Twice weekly regular scheduled flights are planned, according to CEO, Simon Foo. ‘These flights will also enable passengers between the Pacific, Australia, Indonesia, Philippines and FSM to connect through Port Moresby, saving considerable time,’ he says.

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Banz Kofi stand

PNG’s Banz Kofi is one of only eight Pacific Island companies at the Pacific Trade and Invest’s Pacific Hub stand at the Auckland Food Show this week.

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Lenders or debt creators who take securities from borrowers or third parties are urged to register under the Private Property Security Act in order to protect their businesses. Fairfax legal principal Keith Iduhu told the Post-Courier the register works as a noticeboard, showing all registered security interests in personal property.

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Australian manufacturers say they are struggling to stay afloat, with LNG prices about twice as high as those charged to overseas importers of Australian gas. Three new plants at Curtis Island, on the Queensland coast, are contracted to supply Asia with gas. An unintended consequence of this gas bonanza, however, has been to create shortages at home. The ABC reports Asian manufacturers can now buy Australian gas at half the price local manufacturers are paying.

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And finally, Samoan Lionel Taito-Matamua is reported to be developing a 3-D printer which could be used to turn plastic waste into products, such as souvenirs for export. He says his motivation for the project arose after seeing how much plastic is dumped into the Pacific Ocean.