Ok Tedi Mining Limited (OTML) is proud to announce a record production result for the first quarter of 2024, with an achievement of 26,114 dry metric tonnes (dmt) of copper (Cu), marking a substantial increase of 61% compared to the same period last year which was 16,265 dmt. This record production has been complemented with a safe start to the year wi...
Mayur Resources Limited is pleased to confirm that it has executed definitive debt financing agreements with Appian Capital Advisory LLP (Appian) for a total of approximately US$115 million. This financing, combined with Vision Blue Resources’ (Vision Blue) proposed equity investment into the project of US$40 million announced in November 2023, would see ...
The Asian Development Bank (ADB) reaffirmed its strong, long-term partnership with the Government of Papua New Guinea (PNG) during the wrap-up meeting of ADB’s Country Programming Mission. At the meeting co-chaired by ADB Country Director for PNG Said Zaidansyah, Department of National Planning and Monitoring Secretary Koney Samuel, and Department of ...
Kumul Petroleum Holdings Limited recently announced that for the first time it was directly marketing Liquified Natural Gas on the ‘spot’ market from its share of product from the PNG LNG Gas Project that was not committed to long term sales agreements. Confirmed last month, the deal is to sell 144,000 m3 of LNG on FOB terms to PetroChina International...
Prime Minister Hon. James Marape announced that Papua New Guinea continues to be a prime destination for business ventures, highlighted by PetroChina International Co. Ltd’s recent entry into the nation’s hydrocarbon industry. On a historically significant day for the oil and gas sector on Wednesday, April 17, 2024, Prime Minister Marape officially wel...
The Port Moresby Chamber of Commerce and Industry Inc. (POMCCI) recently organized a ‘Meet and Greet Networking Event’ with Australia’s new High Commissioner to Papua New Guinea, His Excellency John Feakes. The event took place on Tuesday, 16th April, at the Holiday Inn in Port Moresby, drawing participants from the Australia Trade and Investment Commi...
Business for Health (B4H) is leading the battle against tuberculosis or TB, urging all businesses in Papua New Guinea to join their campaign this year. The renewed commitment to ending the disease marked on TB Day continues, as the group released updates to TB learning resources and maintained conversations through radio, theatre, and storytelling, wit...
Port Moresby, the dynamic capital of Papua New Guinea, is set for a remarkable transformation into a premier destination for Chinese tourists, following a milestone collaboration between local and national tourism industries, business sectors, and a strategic partnership with Guangdong Province. Together, they envision “Amazing Port Moresby” as a pivot...
PNG Minister for Mining Hon. Muguwa Dilu’s online participation in the recent launch of the Multilateral Minerals Security Partnership (MSP) Forum reflects PNG's eagerness to explore collaborative opportunities within the global mining community and potentially become a member of the Forum. This inaugural event held on the 9th of April, in Leuven, Belg...
Papua New Guinea recently took a step further in addressing gun-related issues in the country through a state workshop supported by the United Nations (UN). Gun-related violence poses a significant threat to business operations, mostly in PNG’s provinces. To tackle this, a three-day National Workshop on Coordination Mechanism and Comprehensive National...
The recent signing of the Protocol on coffee exports to China during the official visit of His Excellency Wang Yi, the Minister for Foreign Affairs for China, marks a significant milestone for Papua New Guinea's coffee industry and agriculture sector. The momentous occasion on the 21st of April signifies an historic moment in the relationship between P...
Blue Water is thrilled to announce the opening of bookings for its highly anticipated Less than Container Load (LCL) Consolidation Services, facilitating seamless connectivity between Australia and Papua New Guinea. This innovative service heralds a new era in cargo shipping, promising efficiency, and reliability. Blue Water's LCL Consolidation Service...
PNG CORE President Anthony Smaré said recently that PNG benefits from one of the strongest gold production monitoring regimes in the world and PNG should feel proud of its current regime in place. “PNG's mining industry adheres to a very rigorous standard and comprehensive scrutiny by government agencies to ensure transparency and accountability in gol...
The Papua New Guinea Chamber of Resources & (PNG CORE) reaffirms its dedication to transparent resource governance by actively participating in the Extractive Industries Transparency Initiative (EITI) process. EITI serves as a crucial mechanism for enhancing accountability and promoting responsible management of natural resources worldwide. PNG ...
In Part I, we read about the signs of oil and gas throughout Papua New Guinea that enticed many oilmen to look for large oil and gas fields over many decades, and we read about the first commercial oil discovery at the Iagifu 2-X well and how the Kutubu field was successfully developed. We now pick up the story where subsequent exploration wells found ma...
This decline is expected to persist due to lingering effects of January's civil unrest, resulting in continued pressure on business revenues and employment levels in the non-mineral private sector in the first half of 2024. The Bank's forecast for PNG's domestic growth in 2023 is a modest real GDP growth of 1.4 percent, a significant drop from the 5.2 ...
Bank of Papua New Guinea (BPNG) Governor, Ms. Elizabeth Genia, recently gave key insights into the nation's economic challenges against the backdrop of global economic projections. The Central Bank chief focused on the resilience of Papua New Guinea's private sector amid formidable challenges and crucial strategic shifts in policy. The private secto...
In the ever-evolving development sectors of sustainable energy, mastering the installation of solar energy systems is both a skill and a necessity. With advancements and innovations occurring at a rapid pace, being informed with developments are crucial for companies in the electrical and solar industry. The Sustainable Energy Industry Association Papu...
In a significant move aimed at uplifting rural economies, the Coffee Industry Corporation Limited’s (CIC’s) Strategic Business Plan for 2020-2024 aims to hike production of coffee by 10 percent and improve the quality of coffee beans by 20 percent. The CIC SBP focuses on enhancing the livelihoods of coffee farmers, boosting their income, and raising th...
The Member for Vanimo Green, Hon. Belden Namah is seeking the support of the National Government to assist his District to develop the much talked about Vanimo Free Trade Zone (FTZ). The Vanimo FTZ has been on the drawing board over the last 20 years after been initiated by the former Sandaun Governor, Late John Tekwie. In response to Hon. Namah’s form...
Ok Tedi Mining Limited (OTML) recently presented K100, 000 to the Ok Tedi Women’s Network (OWN) to support a fundraiser to purchase cervical cancer-screening equipment. The funding was presented during a Gala Fundraising Dinner organized under the patronage of OTML Managing Director and Chief Executive Officer, Kedi Ilimbit. The event drew support from...
Qantas has announced the launch of a new direct connection between Sydney and Port Moresby. The national carrier inaugurated its maiden service on 2 April, marking its first commercial passenger flight between the two cities in over five decades. Operating twice a week, the new service will be facilitated by Qantas’ Boeing 737 aircraft, effectively add...
In commemoration of World Health Day on April 7th, the Papua New Guinea Chamber of Resources and Energy (PNG CORE) reaffirms our unwavering commitment to promoting health and well-being within our nation. World Health Day serves as a poignant reminder of the critical importance of prioritizing health at both individual and societal levels. This year’s the...
K92 Mining Inc. announces that it has commenced preparations to resume underground operations within two days, following the receipt of a letter from the Mineral Resources Authority (“ MRA ”) of Papua New Guinea vacating the Form 29 that was issued on March 13, 2024 (see March 19, 2024 Press Release ). The receipt of the letter vacating Form 29, follow...
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