Andrew Forrest leaves Australia on PNG asset hunt

Hi,

This article is from the Australian Financial Review yesterday.

https://www.copyright link/companies/mining/andrew-forrest-leaves-australia-on-png-asset-hunt-20200828-p55q95

„Billionaire Andrew Forrest is defying the COVID-19 pandemic to cast his eye over investment opportunities in Papua New Guinea, where the strife-torn island of Bougainville is home to the giant mothballed Panguna copper and gold mine.Australia's richest man also plans to visit Indonesia with a Fortescue Metals Group delegation after meeting the PNG Prime Minister James Marape and touring the resource-rich country where Australian miners have a checkered and controversial history.A Fortescue team visited Bougainville last year just before an independence referendum on the island where tens of thousands of lives were lost in a 10-year war sparked by disputes over foreign mining.On top of his dip into PNG, Dr Forrest's private company Tattarang could also run the rule over Lion’s dairy business after Treasurer Josh Frydenberg blocked the planned $600 million sale to China Mengniu Dairy on national interest grounds.As well as the Panguna mine, previously run by Rio Tinto, Bougainville is home to other copper and gold deposits that have seen China take an interest in its future.Fortescue has said it wants to increase its exposure to battery metals, which would put copper on its radar. Panguna was valued at $US58 billion last year.“

Certainly looks like a vote of confidence in PNG to me.

Cheers.