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Sunday, December 02, 2012
12th PNG Mining and Petroleum Investment Conference
12th PNG Mining and Investment Conference at the Sydney Hilton
commences at 8.50 AM on December 3 with a keynote address by the PNG
Prime Minister, the Hon. Peter O’Neill.
Presentations will be made
during the three-day event on all major resources projects in Papua New
Guinea, including a construction update on the $19 billion LNG project
led by Esso Highlands PNG. The economy grew by 11.1% in 2011 and growth
of 9.2% is forecast this year.
The PNG Treasury has predicted a slow
down to 4% in 2013 as construction on the LNG project winds down but it
will pick up again once LNG exports commence in 2014.
will be presented at the conference on major mining projects, including
the million ounce upgrade scheduled for completion this month at
Newcrest’s Lihir gold mine; the Mine Life Extension proposed at Ok Tedi
Mining; Barrack Gold’s Porgera gold mine and Ramu Nickel’s nickel-cobalt
mine, which commenced exports last month.
Presentations will also be made on two mega projects that will
shortly complete full feasibility studies - Xstrata Copper’s Frieda
River project and Marengo Mining’s Yandera copper-molybdenum project.
Other advanced projects on which presentations will be made include
the Morobe Mining Joint Venture’s Wafi-Golpu copper-gold project and the
recently stalled Nautilus Minerals Solwara 1 deep sea mining project.
A comparative analysis of resource development frameworks around the
world will be presented in the opening session by Lutz Heim, partner tax
and corporate finance, Deloitte Touche Tohmatsu and Prof Magnus
Ericsson, a senior partner with the Raw Materials Group, will focus on
‘where mineral commodity prices are heading’ in a session on Tuesday.
Other sessions will focus on capacity building for the workforce and
the community and socio-economic challenges facing PNG’s resources