Mining

Long a mainstay of Papua New Guinea’s economy, the mining sector has not been immune to the global economic turbulence that continues to buffet the industry. Slack demand for base metal products and decreased access to cash for junior operators has curtailed exploration and development worldwide, affecting a number of PNG operators in the process. Together with local administrative and logistical hurdles, these challenges have delayed a number of high-potential mineral prospects from entering into later development and production phases. While none of these next-generation projects have come on-line as of yet, parent companies continue to show resolve in bringing them to fruition with ongoing developmental expenditures, which should in time bring new and profitable projects to the market as the older legacy mines wind down their operations.

This chapter contains interviews with Greg Anderson, Executive Director, PNG Chamber of Mines and Petroleum; and Fred Hess, Managing Director, PanAust.