Over three thousand nominate for 2017 national elections, the moratorium on mining exploration in Bougainville is lifted, and cocoa farmers receive grants. Your weekly digest of the latest business news.

The official number of candidates for the 2017 national election is 3,332, made up of 165 women candidates and 3165 males, according to Electoral Commissioner Patilias Gamato. The campaign period will last eight weeks, ending Thursday 8 June.

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Bougainville Governor, Dr John Momis. Credit: EMTV

The Autonomous Bougainville Government (ABG) has lifted the mining and exploration moratorium in the areas of Tore, Isina and Jaba, says Governor John Momis. ‘The strategic lifting of the moratorium in Tore, Isina and Jaba will play a critical part in enhancing Bougainville’s economic future,’ he says.

Meanwhile, Governor Momis says he will consider a call from the Special Mine Lease Landowners Association to reject Bougainville Copper Limited’s (BCL) application to extend its exploration license. He told RNZI they keep changing their position and one group cannot hold up Bougainville’s economic development.

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Ishmael Toroama (right) showing one of the fermentaries that he will be rehabilitating. Credit: Australian High Commission

More than 800 Bougainville cocoa farmers have received grants totalling K6 million to  boost production, quality and access to export markets. The leader of Amataa Sustainable Cocoa Project, Ishmael Toroama, sees restoring cocoa production as a way of providing employment and teaching youths the value of working for money.

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China’s Wu Yi Co has been awarded the K81 million contract to construct the Henganofi-Nupuru Road in Eastern Highlands Province, financed by the Asian Development Bank (loan) and European Union (grant). China Wu Yi Co Ltd has agreed to engage local subcontractors in the project, at up to 50 per cent of the value of the contract.

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Mining Minister Byron Chan says his hands are tied over the license that has already been issued to Nautilus Minerals for the deep-sea Solwara-1 project. Earlier, New Ireland governor Sir Julius Chan reportedly said that although he feared the sea, which he termed as ‘the people’s garden’, may be destroyed by the mining activities, the provincial government acknowledges that it is a national government project. It is now opting to take a neutral stance on the project.

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Governor-General, Bob Dadae

The Governor-General, Bob Dadae, has signed contracts for  a new court complex and a provincial headquarters at Wewak, East Sepik Province. The new K16.7 million court complex will be funded by the PNG government and built by Gold Bell Constructions. The construction of the West New Britain Haus, valued at K95.8 million, was awarded to Phoenix Builders and funded through the New Britain Palm Oil Trust Fund. 

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The Australian Government will impose export restrictions on gas in a bid to ensure there are no domestic shortages. Prime Minister Malcolm Turnbull says Australia’s liquefied natural gas producers have failed to give the government concrete guarantees on domestic supply. The government was forced to intervene with the industry after a warning that Australia was facing energy shortages that could close businesses.

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Japan is poised to exceed an international commitment to limit catches of threatened Pacific bluefin tuna just two years after it adopted the cap. The limit has been undermined by lax compliance, according to the Western & Central Pacific Fisheries Commission, as quoted by Nikkei Asia Review. Last week, the Japanese bluefin catch had reached 99.7 per cent of the agreed quota for the 12 months ending in June.

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Lilium’s electric Volocopter, which could be certified for flight as soon as next year. Credit: The Economist

And finally, a prototype of a small electric plane capable of flying up to 300 kilometres per hour, made by German start-up Lilium, has completed a successful test over Bavaria this week. The Economist reports Lilium is starting work on a five-seat vehicle and hopes to offer a ride-hailing service. May it eventually offer another option for travel in PNG’s mountainous terrain?