AGP Executive Report
Last update: an hour agoPapua LNG: Gulf and Central provinces have agreed to an 80:20 split of K6.606 billion in project benefits, resolving a major dispute ahead of a targeted December investment decision. Mining: K92 Mining produced 49,776 ounces of gold equivalent in the third quarter, its second-highest quarterly output, and passed one million ounces since starting commercial production in 2018. Renewable Energy: Australian-backed solar projects in Oro and Bougainville are expected to benefit more than 66,000 people, bringing power to remote communities, schools and households. Finance: The IMF has reached a staff-level agreement with Papua New Guinea that could unlock about US$189 million. Agriculture: Plans to revive Morobe’s dormant Garaina Tea Plantation could create a K20–K30 million-a-year industry, with a proposed 400-hectare estate expected to support jobs and local businesses. Economic Pressures: Commentary warns that food tax cuts have delivered little to the poorest households, while a weaker kina and heavy reliance on imports continue to push up costs.
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