Harmony commits to K12m exploration program

This is part of the company’s expansion plans

The investment shows the confidence the company has in the gold price and its capacity to expand in PNG.

In an interview with Business Advantage PNG, Chief Executive Officer, Jahannes Van Heerden, says “With so much global economic uncertainty, gold will retain its appeal as a store of value. We will take a measured view on any investment’s decent returns.”

Harmony aims to produce 1.5 million ounces of gold within the next there years at a cost of $950 per ounce.

Forum expansion unlocks new questions

RNZ reports the Forum was set up in 1971 to counter the influence of the major colonial powers, but with French Polynesia and New Caledonia added at this year's summit, France has effectively become a member of the body.

This raises questions about whether other territories in the region, such as Tokelau, American Samoa or Guam should now be included.

The director of the Pasifika Centre at Massey University, Malakai Koloamatangi, said the move had opened a lot of avenues that had seemed closed in the past.