International conference to showcase PNG’s resource sector

Papua New Guinea's longest running international conference, the PNG Mining and Petroleum Investment Conference, is all set to convene on December 5 in Sydney, Australia.

More than 900 delegates and exhibitors from resource and service companies, government organisations, landowner groups, international investors and financiers, and aid organisations will attend the 14th conference at the Sydney Hilton Hotel.

Prime Minister Peter O'Neill will open the conference with a keynote address followed by Treasurer Patrick Pruaitch's presentation on the National Budget and the 2017 outlook.

Other Cabinet ministers who will make presentations include Mining Minister Byron Chan and Petroleum and Energy Minister Nixon Duban, while other ministers, provincial governors and members of parliament are expected to attend.

Chamber Executive Director, Greg Anderson, said the conference has always been a significant event for PNG, not only to showcase the country's mineral and petroleum potential to the international market but also to provide 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.

"On the petroleum front, the PNG LNG project has proved to be one of the best LNG start-ups anywhere in the world. With nameplate capacity of 6.9 million tonnes annually, the project was able to ramp up production to a rate of 8 million tonnes per annum in the first quarter of 2016. This has set the scene for further LNG investment in PNG through the P'nyang gas field in Western Province and the Elk-Antelope gas fields in the Gulf Province. Further development is expected to focus on the considerable integration opportunities with the PNG LNG and Papua LNG projects," he added.

"The conference will provide a comprehensive overview of these developments and others within the resource sectors as well as encourage further growth within the industry," he added.

The third day features seminars on PNG Resource Industry Financing, Petroleum Exploration, and Mineral Exploration updates. A trade exhibition will also run parallel to the conference.

The program, including online registration, is available at the conference website www.pnginvestment.com. Interested individuals and organisations can also email the conference organiser, Margaret Reid, on [email protected] or contact the Chamber on email [email protected] or telephone 321 2988 for more information. Press Release
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