Regional news highlights today
Asia-Pacific growth in 2012 will be weaker than 2011: Moody’s Analytics (India Info Line)
Strike Goes on at Freeport Mine Despite Wage Deal (Jakarta Globe)
Top 10 business risks to mining in 2012 (Mining.com)
A number of mining and metal companies have ventured into regions with unstable political environments, such as West Africa, South America, and Asian countries like Papua New Guinea and Mongolia. Such expansion has brought sovereign risks affecting tenure security and changes in tax and royalty regimes. New fraud and corruption regulations emphasize the need for increased focus on these areas.
PNG environmentalists slam foreign logging investors (Radio Australia)
Environmentalists in Papua New Guinea have raised concerns about foreign companies investing in controversial land leases. In the latest investment, Hong Kong logging firm Pacific Plywood has joined forces with China’s largest state owned timber company, Longjiang Forest Industry Group.
PNG court allows marine dumping of mine waste(Radio Australia)
Papua New Guinea’s Supreme Court has rejected the final appeal by landowners to stop the deep sea dumping of waste from the Chinese-owned Ramu Nickel mine near Madang.