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Main ForumNew Guinea's Sovereign Risk exploding to the upside

  • For quite some time now I have become increasingly aware of sovereign risk issues.

    I have been avoiding New Guinea and parts of Africa and several other countries.....

    Friday's article reinforces my long held view....

    SOVEREIGN risk ratings of Papua New Guinea could further plummet as the country’s government unexpectedly cancelled the exploration licence of the Gameta gold project on Fergusson Island shared by explorers Gold Anomaly and Yamana Gold.

    This move follows the PNG government’s controversial decision to not renew petroleum retention licence 5 to joint venture partners Horizon Oil, Santos and Talisman Energy last year, which could be subject to a legal challenge.

  • THE Ok Tedi mine in Papua New Guinea is a step closer to being nationalised as its BHP Billiton-established majority owner caves into government pressure and calls for a constructive dialogue over a “fair exit” from the mine.

    It would seem that PNG is no longer a safe destination for your funds......

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