Oceania > Papua New Guinea

Papua New Guinea

Capital: Port Moresby; GDP growth (annual %) 2016 : N/A

PNG underwater mine getting closer to start date

Prospective ocean floor miner, Nautilus, says it is making significant ground with its plans to develop the world's initial ever deep sea mine in Papua New Guinea.

The company is planning to mine the ocean floor in PNG's Bismarck Sea.

The Post Courier reported that part the gains is the completion of the company's sea floor production tools, which are currently being trailed at Motukea Island outside Port Moresby.
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Ruling party leads early in PNG vote count

The People's National Congress party has the majority seats early in vote counting for Papua New Guinea's election.

Its leader, the incumbent prime minister Peter O'Neill, was yesterday declared the winner of the Ialibu-Pangia electorate.

According to party insiders it is by presently securing the support of successful independent candidates.
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Another PNC casualty in PNG election

An extra minister from the ruling People's National Congress party has lost his seat in Papua New Guinea's national election.

So far results have been declared in 21 of the 111 seats in PNG's parliament.

The People's National Congress has won eight, the Pangu Pati has five and the National Alliance has two.
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Key Facts: Full name: The Independent State of Papua New Guinea
Population: 6.9 million (UN, 2010)
Area: 462,840 sq km (178,704 sq miles)
Major language: English, Tok Pisin, Hiri Motu
Major religions: Christianity, indigenous beliefs
Life expectancy: 61 years (men), 66 years (women) (UN)
Monetary unit: 1 kina = 100 toea
Main exports: Gold, petroleum, copper, coffee, palm oil, logs
GNI per capita: US $1,300 (World Bank, 2010)
Internet domain: .pg
International dialling code: +675

top news

Climate change laws around the world
2017/05/14
There has been a 20-fold increase in the number of global climate change laws since 1997, according to the most comprehensive database of relevant policy and legislation.

The database, produced by the Grantham Research Institute on Climate Change and the Environment and the Sabin Center on Climate Change Law, includes more than 1,200 relevant policies across 164 countries, which account for 95% of global greenhouse gas emissions.

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Papua New Guinea Year in Review 2016
2017/04/17
Lower returns from the extraction and agriculture sectors and a world fall in commodity prices combined to curb Papua New Guinea’s economic increase in 2016, though prospects for a modest rebound this year are firming up.

Corrections necessary

In early November the government amended its year-end GDP increase projections to 2%, significantly lower than the 4.3% estimate under the 2016 budget, half due to a weaker performance from the mining sector. Increase in non-mining GDP was as well revised downwards to 2.5% from the 3.2% projected at the start of the year.

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Papua New Guinea Year in Review 2014
2015/02/14
A surge in gas exports will set Papua New Guinea on course for an economic boom in 2015 with some estimates putting GDP increase at a stellar 21%. However, tumbling oil prices are likely to take some of the shine off export receipts, limiting the government\\\'s ambitious plan to slash deficit.

The 2015 budget, unveiled in November, projects 15.5% GDP increase for the coming year. This is approaching double the official estimate expansion for 2014 of 8.4%, with increase this year to be fuelled largely by the commissioning of a $19bn ExxonMobil-led liquid natural gas (LNG) development, next shipments began from the initial phase in May.

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