The Chief Executive of Papua New Guinea’s Ok Tedi mine, Peter Graham, tells Business Advantage PNG that the company is now in the top quartile of global copper producers. He says revised company estimates indicate the mine—for many years one of PNG’s major sources of foreign exchange—should have a longer life. The company responsible for PNG’s largest operational mine is considering the […]
Sticking points in Mining Act yet to be resolved, says Mining Minister Byron Chan
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9 Jan 2017 by Leave a Comment
The Minister for Mining, Byron Chan, says that the amendments to Papua New Guinea’s Mining Act are ‘complete’. But he tells Business Advantage PNG that there are some contentious issues.
In brief: ‘Clan vetting’ the key to resolving PNG LNG royalty issue, says Energy Minister
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10 Aug 2016 by Leave a Comment
Officials sent to negotiate with Hides landowners over non-payment of royalties from PNG LNG project, Ok Tedi earns K623 million since March, and PNG Post pays K500,000 in dividends. Your weekly digest of the latest business news.
In brief: Asian Development Bank downgrades Papua New Guinea’s growth outlook, and other business stories
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6 Apr 2016 by 1 Comment
Papua New Guinea’s growth forecast downgraded by Asian Development Bank, Bank of PNG says growth this year will partly be driven by non-mineral sector activity, plus claims PNG’s global corruption rating will depend on government commitment to accountability. Your weekly digest of the latest business news.
In brief: Papua New Guinea forex pressure to ease by the end of April says BSP CEO, and other business stories
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16 Mar 2016 by Leave a Comment
Ok Tedi’s cashflow plus new loan to ease foreign exchange situation, feasibility study to look at water pipeline from Highlands to Queensland, and illegal fishing in Pacific costs US$660 million a year. Your weekly digest of the latest business news.
In brief: Ok Tedi mine reopens and other Papua New Guinea business stories
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2 Mar 2016 by Leave a Comment
Ok Tedi mine reopens after drought causes suspension, Kumul Petroleum renegotiates UBS loan for Oil Search shares and Steamships announces 11% profit increase. Your weekly digest of the latest business news.
Resources sector needs legislation that will position it for the future: Chamber
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1 Mar 2016 by Leave a Comment
Papua New Guinea’s approach to mining and resources legislation, currently under review, will be critical to positioning the country for the next upswing in prices, claims Greg Anderson, executive director of the PNG Chamber of Mines and Petroleum.
In brief: Call for Papua New Guinea government and industry to weather low commodity prices, and other business stories
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24 Feb 2016 by Leave a Comment
Oil Search leader says PNG ‘well placed’ to manage low commodity price regime, Ok Tedi expected to be profitable, and BSP reports 5 per cent profit increase. Your weekly digest of the latest business news. PNG is well placed to weather the current low world oil price environment, but the Government and industry need to […]
Papua New Guinea participates in a global transparency initiative for the resources industries
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24 Feb 2016 by Leave a Comment
Papua New Guinea has participated in its first report to the Extractive Industries Transparency Initiative (EITI), which is a global effort to improve transparency in resource rich countries to help them avoid the so-called ‘resource curse’.
In brief: Papua New Guinea preparing to refinance Oil Search share loan, and other business stories
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10 Feb 2016 by Leave a Comment
Banks vie to renew government’s loan for shares in Oil Search, structural faults in Phase One of new Lae port, OK Tedi to resume operations next month. Your weekly roundup of the latest business news.
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