Harmony Gold has become the latest gold miner to write-down its Papua New Guinea assets, as a sharp drops in bullion prices force mining companies globally to reassess the profitability of their mines.
Private companies boost Papua New Guinea’s health sector
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11 Dec 2013 by 2 Comments
The private involvement in healthcare has expanded substantially in Papua New Guinea as foreign investment, particular into the country’s mining and petroleum sectors, has grown. We present a brief overview of the sector.
In brief: PNG looks to refinance Oil Search loan, first corruption conviction and other stories
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27 Nov 2013 by
Future of government shareholding in Oil Search revealed next month, former planning minister guilty of corruption, BHP sees long-term future in gas and other local and regional stories.
Newcrest Mining to lay off up to 7% of Lihir workforce
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26 Jun 2013 by
Following recent announcements that it will aim to reduce operating costs at its Papua New Guinea sites, Newcrest Mining Ltd will cut at least 150 jobs from its workforce at the Lihir gold mine.
In brief: Nautilus Minerals shareholding saga unresolved and other stories
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29 Oct 2013 by
The O’Neill government seeks legal advice on the Nautilus ruling and other local and international stories.
Newcrest Mining to ‘simplify’ Papua New Guinea mining operations
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11 Jun 2013 by
Newcrest Mining has revealed it is aiming to ‘simplify’ operations at the Lihir and Hidden Valley gold mines in Papua New Guinea, after writing down the value of its mines in PNG, Australia and Africa by AUD$6 billion (K12.6 billion).
Harmony/Newcrest to cut costs
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8 May 2013 by
Gold miners Newcrest Mining and Harmony Gold report are reviewing capital expenditure at their two joint venture projects in Papua New Guinea because of weak gold prices.
Mining update: Papua New Guinea defies world trends
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1 May 2012 by Leave a Comment
Minerals sector enjoys its winnings while industrialised world struggles with debt crises. Papua New Guinea’s minerals sector has been sitting in a sweet spot in the past year, with prices for major commodities rising while much of the industrialised world is in a debt-induced funk. The gold price has risen from lows of $US1320 an […]
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