O’Neill to open investment conference in Sydney

Business

PRIME Minister Peter O’Neill is expected to open the 14th Investment conference in Sydney on December 5, which more than 900 delegates and exhibitors from resource and service companies will attend.
Treasurer Patrick Pruaitch will make a presentation on the national budget and next year’s financial outlook.
According to the PNG Chamber of Mines and Petroleum, the conference will be attended by representatives of Government organisations, landowner groups, international investors and financiers, and aid organisations. Mining Minister Byron Chan and Petroleum and Energy Minister Nixon Duban will also attend.
Chamber executive director Greg Anderson said the conference had always been a significant event for the country. It not only showcases the country’s mineral and petroleum potential to the international market, but also provides 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,” Anderson said.
“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. 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.”

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