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Precious Metals Mining in Papua New Guinea to 2020 - a Focus on the Gold Industry

Published: Mar 2015 | No Of Pages: 27 | Published By: Timetric

Synopsis

The Precious Metals Mining in Papua New Guinea to 2020 – a Focus on the Gold Industry report comprehensively covers the country’s historic and forecast data on gold production to 2020, reserves and production by region and demand by end use. The report also includes drivers and restraints affecting the industry, profiles of major precious metals mining companies, information on the major active, development and exploration projects and regulations governing the industry.
The fiscal regime section provides information about the country’s regulatory authority, laws, licenses and other fiscal regime information such as taxes, rates and other charges applicable to the mining of the commodity in the country. It is an essential tool for companies active across the PNG’s mining value chain, and for new competitors considering entering the industry.

Executive summary

The country’s gold mine production was estimated at 2.1 million ounces in 2014, up by 5.1% over 2013. In 2013, production was up by 9% over 2012 due to increased output from the Lihir and Porgera mines. In the previous decade, mine production fluctuated reaching its lowest for the period in 2006 mainly due to a landslide at the Porgera mine.

Scope

The report contains an overview of Papua New Guinea's precious metals (gold) mining industry together with the key growth factors and restraints affecting the industry. Further, it provides information about reserves, reserves by type and province, historic production and production forecast, gold prices, gold exports, demand drivers, competitive landscape and major active, exploration and development projects.

Reasons to buy

Gain an understanding of Papua New Guinea's precious metals (gold) mining industry, the relevant drivers and restraining factors, reserves, reserves by type and province, historic and forecast production, gold prices, demand drivers, competitive landscape and major active, exploration and development projects and the country's fiscal regime.

Key Highlights

The country’s gold mine production was estimated at 2.1 million ounces in 2014, up by 5.1% over 2013.
Gold is chiefly mined in the Enga province, on Lihir Island and several other locations across the country. The Porgera and Lihir mines are amongst the country’s five largest gold mines, the latter having produced 10.4 million ounces of gold during 1997–2013.
There are numerous upcoming gold projects which are at various stages of development, as well as exploration, such as the Crater Mountain, Tanga Island, Mount Penck and Mount Nakru 1 projects.

1 Executive Summary

2 Precious Metals Mining in Papua New Guinea – Drivers and Restraints
2.1 Gold Mining in Papua New Guinea – Drivers
2.2 Gold Mining in Papua New Guinea – Restraints

3 Gold Mining in Papua New Guinea – Reserves and Production
3.1 Reserves by Type and Provinces
3.2 Historical and Forecast Production
3.3 Total Production by Province
3.4 Gold Prices
3.5 Total Production by Major Active Mines
3.6 Major Exploration and Development Projects
3.7 Gold Exports
3.8 Demand Drivers
3.8.1 Demand from foreign markets
3.8.2 Global gold demand

4 Competitive Landscape
4.1 Barrick Gold Corporation
4.2 Newcrest Mining Ltd

5 Fiscal Regime
5.1 The Papua New Guinean Mining Industry – Governing Bodies
5.1.1 Mineral Resources Authority (MRA)
5.1.2 Chamber of Mines and Petroleum
5.2 The Papua New Guinean Mining Industry – Governing Laws
5.2.1 Mineral Resource Authority Act 2005
5.2.2 Mining Act 1992
5.2.3 Environment Act 2000
5.3 The Papua New Guinean Mining Industry – Mining Licenses
5.3.1 Exploration License
5.3.2 Mining Lease
5.3.3 Special Mining Lease
5.3.4 Lease for Mining Purposes
5.3.5 Mining Easement
5.4 The Papua New Guinean Mining Industry – Key Fiscal Terms
5.4.1 Royalty
5.4.2 Development Levy
5.4.3 Corporate Tax
5.4.4 Withholding Tax
5.4.5 Stamp Duty
5.4.6 Tax Incentives
5.4.7 Capital and Exploration Expenditure-Allowable Deductions
5.4.8 Goods and Service Tax (GST)

6 Appendix
6.1 What is This Report About?
6.2 Methodology
6.3 Secondary Research
6.4 Primary Research
6.5 Contact Timetric
6.6 About Timetric
6.7 Timetric’s Services
6.8 Disclaimer

Table 1: Gold Mining in Papua New Guinea – Gold Mine Production (Million Ounces), 2000–2020
Table 2: Gold Mining in Papua New Guinea – Major Active Mines, 2014
Table 3: Gold Mining in Papua New Guinea – Major Exploration Projects, 2014
Table 4: Gold Mining in Papua New Guinea – Major Development Projects, 2014
Table 5: Gold Mining in Papua New Guinea – Gold Demand by End Use, 2014
Table 6: Gold Mining in Papua New Guinea – Barrick Gold Corporation, Major Projects, 2014
Table 7: Gold Mining in Papua New Guinea – Newcrest Mining Ltd, Major Projects, 2014
Table 8: The Mining Industry in Papua New Guinea – Withholding Tax (%), 2014

Figure 1: Gold Mining in Papua New Guinea – Location of the Ladolam Geothermal Deposit and Lihir Mine
Figure 2: Gold Mining in Papua New Guinea – Gold Mine Production (Million Ounces), 2000–2020
Figure 3: Gold Mining in Papua New Guinea – Monthly Gold Prices (US$/Ounce), 2014
Figure 4: Gold Mining in Papua New Guinea – Average Annual Gold Price Forecast (US$/Ounce), 2015–2020
Figure 5: Gold Mining in Papua New Guinea – Quarterly Gold Exports (Thousand Ounces), March 2013–September 2014
Figure 6: Gold Mining in Papua New Guinea – Global Demand for Gold by End–Use (%), Q3 2014

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