Economic Development 12 May 2026

Santos Limited’s $400 Million PNG Gas Project Puts 2028 Growth Back in Focus
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Santos Limited’s $400 Million PNG Gas Project Puts 2028 Growth Back in Focus

Santos Limited approved the Agogo Production Facility tie-in project in Papua New Guinea, committing $160 million toward a $400 million gas expansion set to supply the PNG LNG system. The project includes a new 19-kilometre pipeline, two wells, and aims for first gas in Q2 2028. Santos expects to add 54 mmscf/d to its net capacity. Shares closed at A$7.68, up 1.59% on Wednesday.
May 14, 2026
Rio Tinto’s Copper Hunt In Canada’s North Comes Right As An Oil Town Faces Its Next Act
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Rio Tinto’s Copper Hunt In Canada’s North Comes Right As An Oil Town Faces Its Next Act

Rio Tinto has applied for a four-year permit to begin copper exploration in the Mackenzie Mountains, Northwest Territories, with fieldwork planned between June 15 and August 31, 2026. The company seeks approval for low-impact activities such as surveys and sampling, not drilling or road construction. The move comes as Imperial Oil prepares to close its Norman Wells operation in late 2026. Local leaders have expressed support for the project.
May 12, 2026