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Tuesday
26 May 2015
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   TODAY'S STORIES
 
OIL AND GAS 
Maari growth on track


PRODUCTION from OMV's MR7A development well in New Zealand's Taranaki Basin has boosted aggregate production from the Maari field to more than 15,000 barrels of oil per day.
Full Story...


MORE OIL AND GAS

PM Razak urges industry to tackle challenges


A transformative year for Oil Search: Lee


Larus buoyed by seismics


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MINING 
Funds raised for Isabel nickel


INITIAL funding for Axiom Mining’s Isabel nickel project in the Solomon Islands has raised $A4 million through the combination of a private placement and the issue of convertible notes.
Full Story...


MORE MINING

Rights issue undersubscribed


Axiom requests trading halt


Singapore to become regional arbitration venue


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MARKET WATCH 
Too much gold, not enough copper


AN OVERSUPPLY of gold is having a detrimental effect on the commodity, with investors and some executives criticising mining companies for producing too much high-cost gold, according to Bloomberg.
Full Story...


MORE MARKET WATCH

Green light for PMIZ


K92 to buy Kainantu


Kina partner locked in


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REGIONAL WATCH 
Maari growth on track


PRODUCTION from OMV's MR7A development well in New Zealand's Taranaki Basin has boosted aggregate production from the Maari field to more than 15,000 barrels of oil per day.
Full Story...


MORE REGIONAL WATCH

Deep sea tailings success


PM Razak urges industry to tackle challenges


Maybank pulls out of PNG


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ECONOMY 
PNG wants inclusive economic development: Abel


PAPUA New Guinea Planning Minister Charles Abel attended the APEC Trade Ministers’ Meeting in the Philippines over the weekend to discuss issues relating to small and medium enterprises, the reduction of tariffs and advancing the concept of an Asia Pacific free-trade.
Full Story...


MORE ECONOMY

Increased dividends for BSP shareholders


Digicel connects expo


Tuna shares fraud feared


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PNG LNG 
Happy anniversary for PNG LNG production


ANOTHER milestone was reached last week by the PNG LNG project when it celebrated one year since the start of production.
Full Story...




 


PNG wants inclusive economic development: Abel


PAPUA New Guinea Planning Minister Charles Abel attended the APEC Trade Ministers’ Meeting in the Philippines over the weekend to discuss issues relating to small and medium enterprises, the reduction of tariffs and advancing the concept of an Asia Pacific free-trade.
Full Story...


Maari growth on track


PRODUCTION from OMV's MR7A development well in New Zealand's Taranaki Basin has boosted aggregate production from the Maari field to more than 15,000 barrels of oil per day.
Full Story...


Funds raised for Isabel nickel


INITIAL funding for Axiom Mining’s Isabel nickel project in the Solomon Islands has raised $A4 million through the combination of a private placement and the issue of convertible notes.
Full Story...

PALM7 ends in declaration


PAPUA New Guinea Prime Minister Peter O’Neill concluded his trip to Japan over the weekend by attending the Pacific Islands Leaders Meeting (PALM7) in Iwaki.
Full Story...


PNG budget review


A BUDGET review by the PNG Treasury is currently underway, with local media suggesting likely cuts to departmental funds.
Full Story...


Increased dividends for BSP shareholders


POSITIVE results for Bank of South Pacific in 2014 prompted the bank’s directors to declare a final yearly dividend of K0.56 ($A0.26).
Full Story...


Digicel connects expo


TELECOMUNICATIONS company Digicel has committed K180,000 ($A82,000) to the Papua New Guinea Women in Business (PNG WiB) Expo scheduled to be held in July.
Full Story...


Tuna shares fraud feared


SOUTH Seas Tuna Corporation (SSTC) has hit back at claims that the East Sepik local government was misled over investments and the non-payment of dividends, according to PNG media.
Full Story...


Too much gold, not enough copper


AN OVERSUPPLY of gold is having a detrimental effect on the commodity, with investors and some executives criticising mining companies for producing too much high-cost gold, according to Bloomberg.
Full Story...


Green light for PMIZ


DEVELOPMENT of Madang’s Pacific Marine Industrial Zone (PMIZ) is set to proceed as Prime Minister Peter O’Neill allayed concerns over land ownership and its environmental impact.
Full Story...


K92 to buy Kainantu


VANCOUVER-based K92 Mining and Otterburn Resources are seeking to buy Barrick Gold’s Kainantu mine in Papua New Guinea, and has appointed a syndicate of agents to complete the sale.
Full Story...


Kina partner locked in


WITH drilling of Kina Petroleum’s first well ongoing, the company is progressing plans for two future wells with Oil Search after confirming it will pick up its option to farm into PPL 339, between the giant Elk-Antelope complex and the Gulf of Papua.
Full Story...


Deep sea tailings success


A SEVEN-year monitoring program of PT Newmont Nusa Tenggara’s deep sea tailings management at its Batu Hijau copper-gold project in Indonesia has shown no negative environmental impacts – perhaps an encouraging sign as Nautilus begins seafloor exploration activities in the Solomon Islands to support its Solwara 1 project.
Full Story...


PNG’s negative rating: Moody’s


INVESTOR service Moody’s has affirmed Papua New Guinea’s foreign and local currency issuer rating at B1 while changing its rating outlook from stable to negative, with the country’s foreign currency bond ceiling lowered to ‘Ba3’ while the foreign currency deposit ceiling stationary at ‘B2’.
Full Story...


Rights issue undersubscribed


THE 1 for 4 non-renounceable rights issue to raise up to $A3.1 million for Crater Gold’s high grade zone project has concluded despite being undersubscribed by close to $400,000.
Full Story...


No interference in ‘sensitive issue’: Pato


PAPUA New Guinea Foreign Affairs and Immigration Minister Rimbink Pato said the ban on Australians travelling to the Autonomous Region of Bougainville was to prevent unwanted interference between the PNG government and locals during the implementation of a peace agreement.
Full Story...





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