The Panguna Mine Landowner Clan Chiefs and the Autonomous Bougainville Government (ABG) agree to create a new entity to redevelop the Panguna mine, Telstra’s acquisition of Digicel PNG on track, and Papua New Guinea launches its National Employment Policy. The business news you need today.
In brief: Reopening Porgera ‘will have a more immediate restorative effect’ and other business stories
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8 Feb 2021 by Leave a Comment
Foreign exchange pressures continue to escalate, the Executive Director of the Institute of National Affairs talks about the ‘restorative effect’ reopening Porgera could have, and Oil Search back on track.
In brief: Bougainville’s President ends speculations about the future of Panguna and other business stories
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1 Feb 2021 by Leave a Comment
President Ishmael Toroama says Bougainville is not ‘colluding’ with third parties to reopen Panguna, new project to increase regional and international trade in the Pacific, and potential date for the launch of ISEZ’s project program.
Joint consultations on the future of Bougainville trigger speculation on the future of Panguna mine
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27 Jan 2021 by 3 Comments
A joint communique issued earlier this month by Papua New Guinea’s Prime Minister James Marape and new Bougainville President Ishmael Toroama has committed them to moderated ‘joint consultations’ over the autonomous region’s desired independence. It has again brought focus on the future of the island’s massive Panguna copper and gold mine.
Bougainville Copper Limited committed to reopening the Panguna mine
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15 May 2019 by Leave a Comment
The chairman of Bougainville Copper Limited (BCL), Sir Mel Togolo, has confirmed the company is talking to prospective partners about reopening the mine. But he is unwilling to put a date on when it might reopen.
How to deal with resource sector volatility in Papua New Guinea
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27 May 2019 by Leave a Comment
The World Bank has released a new report, which provides a bullish assessment on economic growth in Papua New Guinea. But it says the country’s dependence on natural resources is not generating sufficient jobs to absorb its growing population.
In Brief: World Bank report predicts 5 per cent GDP growth for Papua New Guinea and other business stories
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13 Feb 2019 by Leave a Comment
New World Bank report predicts 5% GDP growth for Papua New Guinea in 2019, consumer protection in financial services, and Bloomberg puts a value on Panguna mine. Your weekly digest of the latest business news.
Perth exploration company Kalia Ltd wins first gold and copper exploration licence under new Bougainville Mining Act
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23 Jan 2018 by 9 Comments
Perth-based explorer Kalia Ltd has begun geological surveys on its two licence areas, after winning exploration licences under the new Bougainville Mining Act. Managing Director Terry Larkan tells Business Advantage PNG that, while the licence areas’ resources are unknown, the licences have ‘the right address’.
In brief: Tuna fishing rebate changes favour on-shore processors, and other business stories
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16 Jan 2018 by Leave a Comment
New fishing rebate scheme favours on-shore processors, coffee producer says poor roads in Western Highlands devalues coffee, and Lae laments loss of Alan McLay. Your weekly digest of the latest business news. Trade Minister, Wera Mori, says a threat by foreign fishing firms to close their processing facilities, after the government ended the rebate on […]
What is stopping Papua New Guinea’s Panguna mine from re-opening?
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24 Aug 2016 by Leave a Comment
The government of Bougainville wants to put the operation of the giant Panguna copper mine out to international tender as soon as possible, President John Momis tells Business Advantage PNG. But key considerations, including the exploration licence, the equity structure, landowner rights and dividends and the rehabilitation of the mine must be decided first.
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