Papua New Guinea UpdatePublished by MAC on 2006-03-28
Papua New Guinea Update
28th March 2006
After last week discounting a short-term interest in reviving the Panguna mine on Bouganville, Rio Tinto is now mooted to be interested in returning to Papua New Guinea.
Meanwhile, the south Pacific state hasn't done too well in the Fraser Institute's annual survey of mining companies. In fact, it ranks 50th out of 64 countries, placing it not much above DRCongo, Venezuela and Zimbabwe. What PNG has in common with Zimbabwe is being a "deterrent" to mineral investors, because of "uncertainties" over native land claims.
Nonetheless the country ranks top, with Russia, Peru, Mali, Ghana, and Indonesia, in terms of its mineral potential.