Since large-scale mining was initiated in the 1970s at the Panguna copper mine in Bougainville, the revenue derived from mineral extraction has served as the backbone of Papua New Guinea’s economy. While Panguna is no longer operating, a host of new largescale gold mines have stepped up to fill the void and now contribute the vast majority of the...
Despite a number of ongoing challenges, Papua New Guinea’s banking sector is poised for expansion in the coming years. The industry has seen significant growth over the past decade, primarily as a result of government leadership and rapid development in the economy due to a handful of major energy and mining projects. In general, three commercial...
A rapidly expanding population and the corresponding strong economic growth are putting increasing pressure on Papua New Guinea’s overstretched power sector. Already registering annual growth in power consumption of around 5%, according to Chris Bai, executive advisor at PNG Power (PPL), demand is only expected to rise in the coming years. “The...
Papua New Guinea is at a crossroads today: the country is poised to enter a period of unprecedented economic prosperity, led by the PNG liquefied natural gas (LNG) project that is being developed by ExxonMobil. Revenue from this project is expected to double PNG’s GDP growth, and a second LNG project in the Gulf province, being developed by...
THE COMPANY: City Pharmacy (CPL) was established in 1986. It is one of the leading retail/wholesale companies in Papua New Guinea, with branches located through out the country. CPL operates pharmacies, supermarkets, hardware supply stores and Bon Café outlets. The company was listed on the Port Moresby...
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