In a surprise development, the Porgera gold mine looks set to re-open, ending a period of intense disagreement between Papua New Guinea’s government and Barrick Niugini, the mine’s operator.
In brief: Business Council reminds Papua New Guinea government to pay K2.8 billion debt and other business stories
Welcome,
12 Oct 2020 by Leave a Comment
Business Council reminds government of its K2.8 billion debt, Newcrest to be listed on Canada’s stock exchange and Papua New Guineans open up about the Zhenhua data breach. The business news you need to kickstart your week
In brief: Papua New Guinea and Twinza reach landmark terms for Pasca A project and other business stories
Welcome,
28 Sep 2020 by Leave a Comment
Prime Minister Marape announces that after successful negotiations an agreement has been reached for the PASCA Offshore Petroleum Project, Barrick Niugini lodges an application for Judicial Review of the purported grant of a special mining lease to Kumul Minerals Holdings and Bougainville’s new president. The business news you need to kickstart your week.
Papua New Guinea Government moves to take over Porgera lease
Welcome,
31 Aug 2020 by 6 Comments
Papua New Guinea’s government has moved to effectively take over the Porgera gold mine in Enga Province by issuing a Special Mining Lease to state-owned mining company, Kumul Minerals Holdings. Legal challenges look likely.
In brief: Oil Search planning strategic review and other business stories
Welcome,
27 Jul 2020 by 1 Comment
Oil Search to undergo a strategic review, Newcrest remains positive about Wafi-Golpu and public consultation on internet pricing. The news you need to kickstart your week.
Papua New Guinea government and Barrick Gold outline competing visions for Porgera
Welcome,
20 Jul 2020 by 9 Comments
Prime Minister James Marape and Barrick Gold have offered two competing visions for the reopening of the Porgera gold mine. With the mine closed and court cases ongoing, the latter is highlighting the impact on business and the community.
Barrick initiates international proceedings over Porgera
Welcome,
13 Jul 2020 by 2 Comments
In its latest step to maintain its position as operator of the Porgera gold mine, Barrick (Niugini) is taking its dispute with Papua New Guinea to the International Centre for Settlement of Investment Disputes.
Court challenge: Marape forced to rethink Porgera decision by courts
Welcome,
4 May 2020 by 12 Comments
The decision by the Marape-Steven government not to extend the Special Mining Lease on the Porgera gold mine is headed for the courts after the National Court of Justice at Waigani ordered both parties to have discussions to resolve the matter.
Porgera fallout: Prime Minister moves to reassure Papua New Guinea’s miners
Welcome,
29 Apr 2020 by 7 Comments
Prime Minister James Marape moves to allays concerns among Papua New Guinea’s mining companies following the decision not to renew the special mining lease for the Porgera gold mine. Meanwhile, the mine’s temporary closure is already affecting local business.
‘Nationalisation without due process’? Barrick Gold to take on Papua New Guinea government over Porgera decision
Welcome,
27 Apr 2020 by 7 Comments
The Papua New Guinea Government has announced that it will not renew the existing Special Mining Lease at the Porgera gold mine, which is operated by Barrick Gold. Barrick is set to challenge the decision.
USD 0.251
AUD 0.3939
GBP 0.1966
EUR 0.2385
NZD 0.4333
JPY 38.07
SGD 0.3368
Recent readers’ comments