mr o'neill sworn in as new png pm!

Hey IDC Holders

Another significant derisking of the Mt Kare project has just occurred.

It looks like PNG has a new PM! Mr O'Neill has just been elected PM.

Once the PFS is completed by the end of this month and IndoChine Management and Board have been able to present it to the new PNG Govt and Regulators it will be made public. We may see it a bit sooner than end of September.

Cheers Nectar

PNG parliament selects O'Neill as new PM

PETER O'Neill has been elected prime minister of Papua New Guinea.

Mr O'Neill was elected by 94 votes to 12 on the floor of the chamber.

There were no other nominees.

"I now declare the member for Ialibu-Pangia, Mr Peter O'Neill, Prime Minister Peter O'Neill," Speaker Theo Zurenuoc said.

Mr O'Neill will now go to Government House in Port Moresby to be sworn in.

Earlier on Friday, 107 MPs out of 111 took to the chamber to elect Mr Zurenuoc as Speaker of the house.

MPs swore an oath of office before being recognised by chief justice Sir Salamo Injia, who sat in the Speaker's chair until Mr Zurenuoc was elected by a vote of 88 to 17 on Friday morning.

Francis Marus, a supporter of former deputy PM Belden Namah, also nominated.

Mr Zurenuoc was then "dragged" to the Speaker's chair - a tradition in some Westminster democracies.

Earlier on Friday, supporters of Mr Namah failed in a court bid to stop the sitting going ahead.

Mr O'Neill occupied the front bench for the morning sitting, along with former prime ministers Sir Julius Chan and Sir Michael Somare.

Mr O'Neill has formed a coalition of about 75 MPs.

Arriving late with his 15 supporters, Mr Namah and his entourage of MPs were forced to take the oath of office separately from other MPs.

Mr Namah drew laughs from MPs and the gallery when he shook Mr O'Neill's hand shortly before presenting himself to the chief justice.

Applause was audible in the chamber as Mr Namah gripped Mr O'Neill's hand.

The pair publicly split mid-campaign after Mr Namah insisted he should be the country's prime minister.

The chamber also erupted in applause when PNG's only women MPs, Delilah Gore and Loujaya Toni, were recognised by the chief justice.

Read more: http://www.news.com.au/breaking-news/world/judge-rejects-bid-to-stop-png-parliament/story-e6frfkui-1226442078703#ixzz22T2kwebN