All set for Sydney conference
Post Courier | November 19, 2016
The PNG Mining and Petroleum Investment Conference in Sydney will give potential investors a comprehensive overview of the resource sector in Papua New Guinea.
The PNG extractive industry’s flagship summit is scheduled for December 5 at the Hilton Hotel in Sydney, Australia. Prime Minister Peter O’Neill and Treasurer Patrick Pruaitch open the conference and give presentations.
Over 900 delegates and exhibitors representing companies, state agencies, landowner, aid organisations and international investors and financiers will attend the 14th PNG Mining and Petroleum Investment Conference.
Other Cabinet ministers who will make presentations include Mining Minister Byron Chan and Petroleum and Energy Minister Nixon Duban while other ministers, provincial governors and members of parliament are expected to attend.
PNG Mining and Petroleum Chamber executive director, Greg Anderson, said the conference has always been a significant event for PNG, not only to showcase the country’s mineral and petroleum potential to the international market but also to provide investors and financiers a forum to meet industry players and discuss investment opportunities.
“Despite the depressed global commodity market situation and the impact this has had on the PNG economy, there are some exciting resource opportunities emerging in PNG.
Mineral exploration in recent years has resulted in the discovery and early appraisal of two significant copper-gold prospects – Kili Teke west of the Porgera mine, and in the Star Mountains north of the Ok Tedi mine,” he said in a statement yesterday.
“Lihir and Simberi are performing very well and Ok Tedi is well on the path to recovery. There have been two applications this year for Special Mining Leases for Frieda River and Wafi-Golpu projects.
“On the petroleum front, the PNG LNG project has proved to be one of the best LNG start-ups anywhere in the world. With nameplate capacity of 6.9 million tonnes annually, the project was able to ramp up production to a rate of 8 million tonnes per annum in the first quarter of 2016.
This has set the scene for further LNG investment in PNG through the P’nyang gas field in Western Province and the Elk-Antelope gas fields in the Gulf Province.”