In spite of the recent worldwide slump in commodity prices, numbers were strong at this week’s 13th Papua New Guinea Mining and Petroleum Investment Conference in Sydney. Business Advantage PNG examines why.
In brief: O’Neill declares PNG moving towards a new regime of ‘managed economic growth’ and other business stories.
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A new approach to managing PNG’s economy, Manus Island detention centre to be ‘wound down’, and PNG cricketers turning professional. Your weekly digest of the latest regional business news.
In brief: Ratings agency warning on debt and other business news
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Moody’s warns debt could prompt downgrade, tax review committee considers capital gains tax and an EU warning to curb illegal fishing in PNG. Your weekly digest of the latest business news.
In brief: BSP’s bid for Credit Corporation fails and other stories
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Credit Corporation shareholders decide not to sell up to BSP, while Papua New Guinea business visa fees rise sharply and Ok Tedi landowners threaten to close the mine in the latest dispute over the government’s takeover.
Mining companies watching Ok Tedi takeover ‘closely’, says Standard and Poor’s
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The ratings agency Standard and Poor’s is adopting a ‘wait and see’ attitude towards the O’Neill government’s nationalisation of the Ok Tedi mine and its owner, the PNG Sustainable Development Program (PNGSDP).
People moves: Ok Tedi Mining, Bemobile, Coppermoly, Nautilus Minerals and more
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Big changes at Ok Tedi Mining, the new chair at Bemobile finally takes his seat, a new exploration manager at Coppermoly and board changes at Nautilus.
Around the world: Ok Tedi, Papua New Guinea corruption and other international stories
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Attempts to understand the Ok Tedi acquisition and a powerful television report on corruption in Papua New Guinea, plus a golfing coup for Fiji.
O’Neill faces financial risks over nationalisation of Ok Tedi
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Last week’s legislation to nationalise the PNG Sustainable Development Program (PNGSDP) and Ok Tedi Mining Limited carries severe risks and negative implications for development in PNG, writes Stephen Howes, Director of the Development Policy Centre at the Australian National University.
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