St Barbara will invest A$8–$12 million (K19–28 million) on exploration activities in Papua New Guinea this financial year with the aim of extending its Simberi gold mine beyond its current mine life.
St Barbara Ltd
Gold mine to go into full production, royalties scrutiny and better access to basic infrastructure. Your weekly digest of the latest business news.
St Barbara recently announced that gold production from its Simberi mine in New Ireland rose by 39 per cent in the year to June: exceeding ‘the upper end of guidance.’ Managing Director Bob Vassie tells Business Advantage PNG that the company is looking to explore more in Papua New Guinea.
Government tells Chinese company to start building Madang’s Pacific Marine Industrial Zone, new Tourism Minister unimpressed with Tourism Promotion Authority and second LNG ship is named Kumul. Your weekly digest of the latest business news.
The latest closure of the Ok Tedi mine reminds us that disruptions at major mining operations in Papua New Guinea are nothing new. While the closure is undoubtedly a setback, Business Advantage PNG’s survey of PNG’s other major mines suggests prospects for the mining sector are more positive.
Bank of South Pacific finalises purchase of Westpac’s Tonga, Samoa and Cook Islands banks; Special Economic Zone agreement in East Sepik and Santos reportedly buying into P’nyang gas field. Your weekly digest of the latest business news.
Pernix Group looks to expand into Papua New Guinea, European Investment Bank invited into PNG and Finance Minister says LNG is not ‘a waterfall’ of money.
Bougainville Copper to seek formal acknowledgment of Bougainville mining rights, Post PNG pays first dividend, and low-cost ‘squatter’ housing project in Fiji. Your weekly digest of the latest business news.
Joint venture elects Total as operator, PNG DataCo discusses Solomon Islands link, and WCB Resources lifts stake in gold project. Your weekly digest of the latest business news.
LNG focus for Oil Search, ANZ warns on debt risk, and Barrick plans to offload Porgera mine. Your weekly digest of the latest business news.