AGP Executive Report
Last update: 4 hours agoMining Investment: LCL Resources has signed a second farm-in deal with Rio Tinto in PNG. Rio can earn up to 80% of the Liamu gold-copper project by funding exploration and development, including at least A$6 million in initial work. Papua LNG: Parliament unanimously passed four bills tied to the project, clearing a step toward its estimated US$14.5 billion investment. The changes set out negotiated fiscal terms, including a price-linked benefit-sharing mechanism. Growth Agenda: Prime Minister James Marape launched a reform committee to drive revenue and non-resource growth, targeting a K200 billion economy by 2030, up from K140 billion. Agriculture, manufacturing, transport and retail are among the sectors expected to help deliver that growth. Frieda River: PNG and China’s Guangdong Rising Holdings signed a cooperation agreement to advance planning for the proposed copper-gold mine and hydropower project.
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