The Porgera gold mine in Enga Prince looks set to reopen later this year after the Papua New Guinea Government and mine operator Barrick Gold reached a ‘binding framework agreement’ to share future benefits from the mine and boost local ownership.
People moves: Kumul Minerals Holdings, City Pharmacy, British American Tobacco PNG, Oil Search, Solomon Brewery
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21 Oct 2020 by Leave a Comment
Kumul Minerals Holdings renews its board, City Pharmacy appoints new CEO, British American Tobacco announces head of National Field, change on Oil Search Board and Solomon Brewery welcomes a Supply Chain Manager.
Digging deeper: resources sector’s contribution undervalued in Papua New Guinea
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19 Oct 2020 by Leave a Comment
The contribution of the resources sector to the Papua New Guinea is being greatly under-estimated according to Maygen Turliu, Director of Tax & Business Services for Deloitte PNG. What appears in Treasury’s Budget is less than a third of its actual contribution.
Metal mayhem: Barrick set to re-open Porgera; Chairman quits Kumul Minerals
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19 Oct 2020 by 1 Comment
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.
People moves: Kumul Minerals Holdings, ICCC, Karoon Energy
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14 Oct 2020 by Leave a Comment
Kumul Minerals Holdings welcomes a Registered Mine Manager, Papua New Guinea’s Independent Consumer and Competition Commission reappoints CEO, and new appointment for Oil Search’s former head.
In brief: ADB approves K87 million telecommunications investment in Papua New Guinea and other business stories
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7 Sep 2020 by Leave a Comment
The Asian Development Bank approves a multi-million kina investment in telecommunications in Papua New Guinea, Investment Promotion Authority looks to make doing business easier, and Fortescue Metal Group announces plans for hydropower projects in PNG. The business news you need to kickstart your week.
Papua New Guinea’s proposed new resources law aims to shake up old ownership models
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31 Aug 2020 by Leave a Comment
A new organic law defining how Papua New Guinea manages resource projects may soon be tabled in Parliament. It appears the main aim will be to change ownership and control of future projects, but will it spook international investors?
In brief: Papua New Guinea and Japan strengthen ties and other business stories
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24 Aug 2020 by Leave a Comment
Papua New Guinea and Japan sign a Statement of Intent, PNG launches a National Energy Policy and potential changes to the way Kumul Petroleum Holdings and Kumul Mineral Holdings operate. The business news you need to kickstart your week.
Staking his claim: Kumul Minerals Holdings’ Peter Graham talks exclusively about the mining entity’s future
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5 Aug 2020 by 9 Comments
Peter Graham, Chairman of Papua New Guinea’s state-owned mining company Kumul Minerals Holdings, talks extensively about its plans for the future.
Barrick initiates international proceedings over Porgera
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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.
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