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 has greenlit the Agogo Production Facility tie-in project in Papua New Guinea, opting to boost gas output for the current PNG LNG system instead of constructing a separate export terminal. The move came after the PNG LNG joint venture—where Santos owns a 39.9% stake—signed off. Timing is key here. Santos wants the market focused on ramping up output and hitting project milestones, especially after setbacks like the Barossa holdups and missing first-quarter targets. Shares finished Wednesday at A$7.68, gaining 1.59%—this after a 0.53% lift the day before.
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 is looking to start copper exploration in the Sahtu region of Canada’s Northwest Territories this summer, filing an application as regulators weigh the area’s future with its main oil site nearing shutdown. The miner wants the green light for its CopperCap project, set in the Mackenzie Mountains roughly 160 km from both Tulita and Norman Wells. That timing puts extra emphasis on the application—this isn’t just another field program. Imperial Oil is planning to wind down its Norman Wells oil and gas site, its oldest Canadian operation, with production ending in the third quarter of 2026 as the reservoir runs dry. The company expects closure, remediation, and reclamation will stretch across roughly 20 years.
May 12, 2026