The Wafi-Golpu gold-copper project in Papua New Guinea’s Morobe Province is a bright spot in an otherwise tight mining environment. The Morobe Mining Joint Venture partners believe it will be one of the world’s lowest cost gold projects, and expect production to begin in 2020. Morobe Mining Joint Venture (MMJV) has estimated that the first stage of the Wafi-Golpu gold-copper project in Morobe Province of PNG will cost US$2.3 billion (K5.9 billion) to develop, less

A commitment to growth throughout the Pacific region has continued for Papua New Guinea-based Bank of South Pacific, with the acquisition of new Pacific operations from Westpac and launch of a new subsidiary. Bank of South Pacific’s (BSP) regional expansion has taken a significant step forward with the acquisition of several Westpac operations in the Pacific, and the launch of a new asset finance subsidiary, BSP Finance. PNG-based BSP has agreed to buy Westpac’s banking

Services companies and contractors are often a casualty of a mining industry downturn. Business Advantage PNG talks to companies servicing the sector in Papua New Guinea on how they have coped with the downturn, and the potential for a turnaround in the country. Despite difficult conditions in Papua New Guinea’s mining industry, Lihirian landowner company, Anitua Mining Services, is hopeful of a rebound and is considering a number of new opportunities that would grow its

LAE NADZAB ROAD The last settlement house at 9 mile will be removed today and PNG Power will be cutting the power to the old line, and be energizing the new lines. See the PPL Notice as attached to this newsletter of power disruptions in this area over the weekend. Whilst the power is off, the tree cutter will take advantage to cut the tops of some of the trees in the 3 mile area.

With construction and first shipment of gas completed ahead of time, the giant ExxonMobil-led PNG LNG project has proven Papua New Guinea is a viable place to carry out major resources projects. In this exclusive valedictory interview with Business Advantage PNG, outgoing ExxonMobil PNG Managing Director Peter Graham reflects on the lessons learned. Business Advantage PNG (BAPNG): What was the critical factor in getting the PNG LNG project completed on time? Peter Graham (PG): Alignment

Domestic and international expansion is on the cards for Bismark Maritime as Papua New Guinea’s shipping sector delivers opportunities for additional players. CEO Jamie Sharp tells Business Advantage PNG of the company’s plans. Emerging players like Bismark Maritime Ltd can only be a positive for Papua New Guinea’s shipping sector as crucial industries, such as oil and gas, continue to develop, according to the company’s Chief Executive Officer, Jamie Sharp. Over the past seven years,

The cruise news looks good. According to a report by the Pacific Islands Forum in mid-2013, the cruise industry has grown 125 per cent since 2005 and 143 new ships have been launched. Particularly strong growth has been recorded in the Asian and Australian markets; a record 834,000 Australians took a cruise holiday in 2013. That puts Papua New Guinea in a geographically advantageous position. What’s more, there’s plenty of room for expansion: currently only

Exporting all future PNG gas extract for income may not be the best use of this remarkable resource. LNG should also be used for domestic power consumption and petrochemical feedstock to boost industry and provide much-needed jobs, argues Petroleum Operations Advisor to the World Bank, Michael McWalter. The PNG LNG Project is a great achievement. The project leaders have turned remote, distressed and valueless gas resources into commercially viable and producing gas reserves aimed at