Bulletin 1st Issue 2015
The mining industry is cyclical. In 2013/2014/2015 we entered a difficult period following the decline of mineral commodity prices, almost across the board.
This downturn has led to financial constraints across the sector, reducing production and operating pressures at both existing mines and within the exploration space. Ok Tedi has since laid off workers from the mine.
The gold price, still the mainstay of PNG mining, has fallen up to 28% since the most recent peak in this commodity cycle.
The downturn has combined with a fall off in production from Ok Tedi, lower than forecast production at the Lihir, Simberi and…