Ok Tedi life extension approved
The OK Tedi Mining Limited (OTML) in Papua New Guinea has had its mine life extension approved from 2023 to 2050, with an expected dividends payments in excess of K30 billion (US$8.2 billion), says chief executive
Economy
New Caledonia’s nickel sector faces energy crunch
French President Emmanuel Macron’s recent visit to New Caledonia highlighted the strategic importance of the vast reserves of nickel in the French Pacific dependency. Speaking in Noumea, President Macron said:
Pacific economies: driven to the brink of change
FANALEI. A 2-kilometre-wide island in the Solomon Islands. Once home to 500 people. Now, almost empty. The reason a young student and her peers are taking on the world. Just over 2000 kilometers away, a man in his
Solomon Islands granted three years LDC graduation extension by UN
Solomon Islands has been granted three years’ extension by the United Nations to prepare for least developed countries (LDCS) graduation. This was made possible through a Resolution which was adopted by the General
BSP facing more system issues than expected
Bank South Pacific (BSP) has come out with an apology and explanation on the current technical difficulties experienced in Papua New Guinea since the implementation of the new Information Technology core banking system
Call for a review of the ‘regional architecture’ to address the needs of Forum Members
With so many regional plans, strategies, frameworks – and now the 2050 Strategy, some Pacific countries are concerned with how benefits are flowing to member countries. There are now calls to review the ‘regional
Inflation, interest rates cloud post-pandemic Pacific growth: World Bank
The resumption of tourism, higher public investment and construction have fuelled the Pacific region’s economic recovery from COVID-19 but a combination of persistently high imported inflation and interest rate hikes
PNG resource boom to last 30 years: Trade Minister Maru
Papua New Guinea is expecting a resource boom from next year because of at least five multi-billion kina projects in the pipeline, says International Trade and Investment Minister Richard Maru. “We don’t have just
PNG Power broke
Papua New Guinea State Enterprises Minister William Duma says PNG Power Limited has reached a critical point where all financial indications show that it is in danger of insolvency. “Major contributing factors over
FEMM endorsed re-designed Pacific Resilience Facility
The Pacific Islands Forum Leaders Meeting later this year in Rarotonga is expected to adopt and approve the redesigned Pacific Resilience Facility (PRF) after it was endorsed by the Forum Economic Ministers Meeting
Forum Chair calls for urgent rethinking of sustainable growth worries
The Chair of the Pacific Islands Forum and Prime Minister of the Cook Islands, Mark Brown, says there is an urgent need for Pacific leaders to relook at how they have been handling sustainable growth in their
