Papua New Guinea’s Minister for Mining Rainbo Paita has commended the Pacific Lime and Cement Limited (PLC) joint venture initiative, describing it as a model that challenges existing industry norms and sets a higher standard for future resource projects in the country.

“This challenges the status quo of all projects,” said Minister Paita. “Companies now must match this or do even better.”

He made the remarks during the Joint Venture Spin-Off Inauguration and Equipment Handover ceremony held on 14 October at the Central Cement and Lime Project site in Kido, Central Province. The event marked the official launch of a groundbreaking partnership between Synergy Alliance Limited (SAL), Kido Holdings Limited (KHL), and Rearea Minerals Limited (RML).

The initiative represents a significant shift, transforming local landowners from project stakeholders into active equity partners in PNG’s emerging lime and cement industry.

Distinguished guests at the event included Hon. Keith Iduhu, MP, Member for Hiri-Koiari; Central Province Deputy Administrator Augustine Tipale; Ambassador to PNG Isaac Lupari; and Australian Deputy High Commissioner to Papua New Guinea Adrian Lochrin. Representatives from the Kido and Rearea landowner communities, PLC, and SAL also attended.

PLC Managing Director Paul Mulder said the joint venture is focused on delivering tangible benefits to landowners and creating a foundation for long-term prosperity.

“This joint venture delivers more than promises; it provides tangible benefits and real ownership for the people of Kido and Rearea,” said Mr. Mulder. “We are building a sustainable future, together.”

The partnership introduces an innovative model of landowner participation through:
• Free-carried equity – granting landowners immediate equity partnership without initial capital investment;
• Capacity building – training, skills development, and mentorship led by SAL; and
• Community-driven growth – establishing a clear path toward 90% landowner ownership of service businesses and asset-heavy equipment contracts.

The PLC partnership demonstrates how commercial success can align with community empowerment and local ownership, reinforcing the company’s commitment to responsible resource development and inclusive economic growth.

Hon. Keith Iduhu, MP, also commended the initiative, acknowledging the strong collaboration between the company and landowners.

“I commend the leadership of the landowners who have been working closely with PLC to see the initiative that we witnessed at the launch become a reality,” said Hon. Iduhu.

Australian-listed explorer Augustus Minerals Ltd. (ASX: AUG) is positioning itself for a potential foothold in one of Papua New Guinea’s most storied mineral prospects, after executing a binding share-purchase agreement to acquire ACM Contract Mining PNG Ltd (ACMPNG), holder of a third-in-line exploration-licence application for the Mt Kare Gold Project in Enga Province.

Under the agreement, Augustus will purchase ACMPNG for A$ 250,000 (US$ 163,000), funded from existing working capital. The PNG company’s application covers a site long considered among the most prospective gold-and-silver deposits in the Pacific, hosting a historical mineral resource of 43 million tonnes at 1.5 grams per tonne (g/t) gold for an estimated 2.1 million ounces of gold and 18 million ounces of silver.

Executive Chairman Brian Rodan described the acquisition as a “strategic and risk-weighted opportunity” that could unlock one of the region’s premier gold development assets. “Mt Kare’s proximity to the world-class Porgera Mine and its robust geological similarities make this a compelling long-term play for Augustus,” Rodan said.

The project lies roughly 15 kilometres southwest of Barrick (Niugini) Ltd’s Porgera Gold Mine, which has historically produced more than 500,000 ounces of gold annually.

Contested application process

While the licence application remains subject to approval by Papua New Guinea’s Mineral Resources Authority (MRA), Augustus is optimistic about its prospects. ACMPNG’s submission, lodged on 22 February 2016, follows earlier applications by Global Mining Group Ltd and Tribune Mt Kare Gold Ltd.

Under the Mining Act 1992, applications are reviewed in order of lodgement but are not automatically granted to the first-in-time applicant. Each application proceeds through landowner hearings, MAC (Mining Advisory Council) review, and a final ministerial recommendation, a process Augustus anticipates could take up to six months or longer.

In June 2025, the company confirmed that the first-in-line applicant, Global Mining Group, was removed from the register, making ACMPNG now the second-in-line applicant for the Mt Kare exploration licence (ELA 2446) [Augustus Minerals ASX Update, 25 June 2025].

Augustus also disclosed plans to object to prior applications or explore joint-venture negotiations with Tribune.

Legacy and potential

Discovered in 1987 by Conzinc Riotinto of Australia, the Mt Kare Project has undergone more than A$ 75 million (US$ 48.8 million) in historical exploration expenditure. The site’s data — based on 454 diamond drill holes totalling 73,639 metres — indicates a geological system comparable to Porgera, with the same host rocks, structural controls and mineralisation style.

Between 2011 and 2014, Indochine Mining Ltd undertook confirmatory drilling, metallurgical testwork, and a pre-feasibility study reported under JORC (2004). Augustus has stated that these historical findings have not been independently verified and will be reviewed under JORC (2012) once tenure is secured.

Low-cost entry, high-upside play

Augustus views the acquisition as a low-cost, high-leverage entry into a Tier-1 exploration corridor. The company believes ACMPNG and its affiliates have already spent more than A$ 2 million (US$ 1.3 million) pursuing the licence process since 2016.

“The balance between acquisition cost and exploration upside makes this a unique opportunity,” said Rodan, adding that the purchase provides a corporate vehicle to expand into other PNG mineral corridors.

If successful in obtaining tenure, Augustus plans to re-validate Mt Kare’s resource under JORC (2012), restart drilling within 90 days, and commence feasibility studies within 15 months.

In September 2025, the company also completed a A$ 1.675 million (US$ 1.09 million) capital raising to fund exploration at its Western Australian assets and support its Mt Kare strategy (Discovery Alert, Sept. 2025).

Background

Augustus Minerals currently holds 100 percent interests in two Western Australian projects — the Ti-Tree Project in the Gascoyne region and the Music Well Project north of Leonora — both prospective for gold, copper, lithium and rare earths.

With Mt Kare now on its radar, Augustus seeks to extend its exploration footprint beyond Australia, pursuing opportunities in one of the Pacific’s richest and most competitive gold belts.

Adyton Resources Corporation (TSX Venture: ADY) has confirmed the large scale of its Feni Gold-Copper Project in Papua New Guinea, following final assays from drill hole FDD005. The results also point to new high-priority targets that could further expand the project’s mineral potential.

Drill hole FDD005 returned 158 metres at 0.72 grams per tonne gold equivalent (0.54g/t gold and 0.14 per cent copper), including 32 metres at 1.09g/t gold equivalent (0.99g/t gold and 0.11 per cent copper). It also ended with 383 parts per million molybdenum, indicating a possible connection to a deeper-seated intrusive system.

The company said the hole is the fifth consecutive one with assays greater than 100 gram-metres gold equivalent, confirming broad and continuous mineralisation between two existing resource areas at the Kabang prospect.

Chief Executive Officer Tim Crossley said the drilling of FDD005 was aimed at unlocking the untapped area between known deposits.

“The drilling of hole FDD005 was a bold move in the middle of the ‘gap’ area in our block model. It is the deepest hole ever drilled at Feni with a gold bearing vertical footprint of greater than 700 metres,” Crossley said. “Our next focus is to integrate the new data from our current drill program into our historical data set and recent close-spaced drone magnetic survey to vector in on and identify the higher-grade zones within this extensive mineral system.”

Chief Operating Officer and Chief Geologist Dr Chris Bowden said that despite lower grades compared with previous drill holes, the latest results demonstrate the extensive scale of the mineral system.

“While the highlight intersection in FDD005 was lower-grade than previous drillholes, it still reported over 100 gram-metres and the two very broad zones of gold-copper mineralisation — 382 metres at 0.43g/t AuEq (from 69 metres) and 332 metres at 0.13g/t AuEq (from 508 metres to end of hole) — clearly indicate the footprint and scale of the system at Feni is extensive,” Dr Bowden said.

He added that ongoing analysis is strengthening their understanding of the area’s geological structure.

“We have re-interrogated the assay results with the outcomes from geophysics data (including high-resolution drone survey). We now have higher confidence that FDD005 likely sits in a structural offset, explaining the significantly wide and highly anomalous grades,” he said. “Furthermore, the re-review of the geophysics and assay results has resulted in a revised understanding of the potential structural controls to mineralisation (more akin to the structural setting at Lihir).”

Adyton said it is continuing to refine its geological model with the new data, which has already highlighted additional targets now considered more prospective. The company is prioritising these in its current phase of drilling in the fourth quarter of 2025.

The Feni Island Gold-Copper Project lies within the 250-kilometre-long Tabar-Lihir-Tanga-Feni Island chain in Papua New Guinea’s Bismarck Archipelago, which also hosts the Simberi and Lihir gold mines. The project currently has a foundational resource of 1.45 million ounces of gold, with exploration aimed at defining higher-grade zones within the larger mineral system.

South Pacific Metals Corp. has announced the discovery of new gold-copper mineralized zones at Golkona South, part of its Anga Project in Papua New Guinea.

The Anga Project lies immediately northeast of, and contiguous with, K92 Mining’s tenements in the Kainantu District — a region widely recognised as one of PNG’s most prospective gold-copper belts.

Highlights – Golkona South

• A 2.2 × 1.1 km gold-in-soil anomaly has been identified, with high soil assays (peak value of 1,080 ppb Au) — the highest soil gold values reported on the Anga Project to date.
• Two zones of high copper (>1,000 ppm Cu) and silver (>250 ppb Ag) in soil samples, with peak results up to 3,397 ppm Cu and 2,160 ppb Ag, are located within the broader gold-in-soil anomaly.
• Panned concentrate samples from streams draining Golkona South contain up to 282 ppm Au, indicating a local mineralized source.
• The anomalous area aligns with mobile MT conductivity features, which correlate with known deposits in the Kainantu region.
• Regional interpretation shows a northeasterly trend in geophysical and structural features, with K92’s Arakompa deposit situated along the same trend to the southwest.

Next steps

• Geochemical sampling will continue at Golkona South, the adjacent Golkona prospect, and across the broader Anga tenement. Geological reconnaissance and mapping will aim to better understand the mineralization style and prospectivity.
• The results will be integrated with past geochemical and geophysical data to define initial drill targets.

SPMC Chief Executive Officer Timo Jauristo said the latest findings reinforce the potential of the Anga tenements. “We are very pleased with these latest soil geochemical results at Golkona South.

“The potential of Golkona South and the Anga tenements is highlighted by these results and their location along the northeasterly trend from K92’s large and growing Arakompa project. We look forward to continuing to advance this project, although our immediate priority is the imminent start of drilling to test the exciting epithermal vein targets at Ontenu NE," Jauristo said.

South Pacific Metals Corp. is an emerging gold-copper exploration company operating within Papua New Guinea’s proven mineral belts. With an expansive 3,100 km² land package and four key projects — Anga, Osena, Kili Teke, and May River — the Company is advancing systematic exploration across assets located alongside major producers K92 Mining, PanAust, and Barrick/Zijin.

The Anga and Osena Projects, which flank K92’s high-grade Kainantu operations, show potential for lode-gold and porphyry copper-gold mineralization similar to that of K92’s deposits. Kili Teke, 40 km from the Porgera Gold Mine, hosts an Inferred Mineral Resource with room for expansion, while May River sits adjacent to the world-class Frieda River copper-gold project, with historical drilling suggesting significant untapped potential.

K92 Mining Inc. has announced the first production of commercial-grade gold-copper-silver concentrate from its new 1.2 million tonnes per annum (tpa) Stage 3 Expansion Process Plant at the Kainantu Gold Mine in Papua New Guinea, marking a major operational milestone for the Company.

During the Official Inauguration Ceremony held on site on 16 October, the Prime Minister of Papua New Guinea James Marape witnessed a gold pour at the new plant, which produced 458 ounces of doré.

Also in attendance were Minister for Mining Rainbo Paita, other distinguished members of Parliament, officials from the Eastern Highlands Provincial Government, heads of government departments and agencies, landowner association leaders including Bilimoia Landowner Association Chairman Busa Sio and Associated Landowners Association Chairman Noka Tinko, as well as representatives from the diplomatic corps, the business community, and project partners.

The new Stage 3 Expansion Process Plant — delivered under budget — represents the largest capital investment under K92’s Stage 3 Expansion program, with 90% of total costs spent or committed as of September 30, 2025. Commissioning remains on track for completion in the first half of Q4.

K92 Chief Executive Officer and Director John Lewins said the achievement marks a pivotal moment for the Company and its stakeholders.

“I am very pleased to announce that the Stage 3 Expansion Process Plant has achieved its inaugural production, a major milestone for our Company, our stakeholders, and the country of Papua New Guinea,” Lewins said.

“This achievement is the result of the tireless efforts and collaboration of our workforce, contractors, and partners. I commend our team for successfully bringing this major project online safely, efficiently, and under budget," he added.

Lewins noted that the presence of the Prime Minister, Minister for Mining, and other key officials underscores the strong partnership between K92 and the PNG Government.

“We were deeply honoured to have the Prime Minister of Papua New Guinea, the Hon. James Marape, along with the Minister for Mining, Hon. Rainbo Paita, and other senior government and community representatives attend the Official Inauguration Ceremony. Their continued partnership and support have been instrumental to the success of the Kainantu Gold Mine," he said.

Lewins concluded by emphasising that this milestone positions K92 for future growth.

“This marks an exciting chapter in K92’s history as the Company advances towards Tier-1, mid-tier producer status. Beyond celebrating this milestone, we are excited for the significant long-term benefits that the Stage 3 Expansion will deliver for our employees, communities, and all stakeholders," the executive said.

 K92 Mining Inc. announced strong production results for the third quarter of 2025 from its Kainantu Gold Mine in Papua New Guinea, as the company continues to make progress on its major Stage 3 expansion.

The company produced 44,323 ounces of gold equivalent (AuEq) during the quarter, including 42,244 ounces of gold, 1.3 million pounds of copper and 34,831 ounces of silver. Sales reached 45,006 ounces of gold, 1.48 million pounds of copper and 43,271 ounces of silver.

With more than 80 percent of the lower end of its yearly target already achieved and an additional 4,893 ounces of gold equivalent in its commissioning stockpile, K92 said it remains on track to meet its 2025 production guidance of 160,000 to 185,000 ounces AuEq.

The company processed 137,172 tonnes of ore in the quarter, a 31 percent increase from the same period last year, with an average gold grade above budget. Metallurgical recoveries were also strong, reaching 95 percent for gold and 94.6 percent for copper.

K92 reported record mine output of 353,770 tonnes of material, with several daily production records set in late September. The company credited this to efficiency improvements such as the completion of its first “material pass,” which allows ore and waste to be moved more efficiently from underground to surface.

Stage 3 Expansion on Schedule

Construction of the new Stage 3 Process Plant, capable of handling 1.2 million tonnes of ore per year, has been completed ahead of budget. The plant is now in the commissioning phase, with the first gold pour and concentrate production expected in the first half of the fourth quarter of 2025.

As of the end of September, 90 percent of Stage 3 expansion capital had been spent or committed, and the project remains within budget. Work also continues on the pastefill and tailings plants, ventilation systems and new underground connections aimed at boosting productivity and safety.

K92 said commissioning of the pastefill circuit is scheduled to begin in mid-2026, while other upgrades such as new power generation systems and tele-remote loaders have already been completed.

Chief Executive Officer John Lewins said the results reflect the company’s steady progress toward becoming a mid-tier gold producer.

“The third quarter marked another strong period of progress for K92 both in terms of production and continued execution of the Stage 3 Expansion,” he said.

Lewins added that the completion of the new plant marks “an exciting period in the company’s history as K92 transitions into a Tier-1, mid-tier producer.”

“Ore has already been introduced into the crushing, grinding, and flotation circuits of the new process plant, keeping us firmly on track for practical completion of commissioning and the first gold pour and concentrate production in the first half of Q4 2025,” he said. “Importantly, the team has built the process plant under budget, representing a significant achievement.”

He also highlighted the company’s progress on multiple projects that support future growth.

“We are also very pleased with the significant advancement we have made across a multitude of projects, de-risking the delivery of the Stage 3 Expansion and positioning the underground mine for Stage 4 and beyond,” Lewins said.

He added that with most of the capital already spent and strong quarterly output achieved, K92 is confident of meeting its full-year goals.

“Having already delivered 80% of the lower end of our annual guidance within the first three quarters plus a commissioning stockpile of 4,893 oz AuEq at the end of Q3, we are well-positioned to achieve our 2025 production guidance,” he said.

Ok Tedi Mining Limited (Ok Tedi) has successfully completed the construction of a critical underground pump station project that improves mine water management, enhances safety and delivers significant cost savings.

The project, which commenced in August 2024 and was completed in June 2025, was delivered incident-free and under budget, achieving a cost saving of US$1.2 million. The achievement underscores Ok Tedi’s commitment to safety and operational excellence.

With annual rainfall of around 10,000 millimetres experienced at the Mt Fubilan operation, the pump station is designed to manage the large volumes of rainwater discharged into the mine pit through shafts and depressurisation holes. The new system channels this water through 800-millimetre polypipes stretching 3.2 kilometres from the underground tunnel to the surface entrance, where it is safely discharged into the river system.

This engineering solution provides a safer, drier working environment for underground crews, enabling continuous productivity and improved working conditions.

The successful delivery of this complex project was a collaborative effort involving three contractors — Tabubil Engineering (TE), the Major Projects Electrical Team and Milum Services Limited (Milum) — who worked closely with more than 40 Ok Tedi underground mining crew members, including Wokman Teleoks Limited (WTL) embedded contract miners.

The project, led by James Waisime, Manager Mine Support Service and Underground, brought together mining engineers, geotechnical engineers, structural engineers, surveyors, boilermakers, pump fitters, electricians and underground miners from the Mine Operations business unit and Major Projects Engineering Team.

“This was a true team effort,” said Waisime. “The safe and timely completion of this project demonstrates the strength of collaboration across departments and our contractors. I’m proud of the commitment and professionalism shown by everyone involved.”

Managing Director and Chief Executive Officer Kedi Ilimbit congratulated the team for the successful completion of the project.

“As a world-class mine, it is imperative that we adopt global best practices. The underground pump station is among a number of projects undertaken by Ok Tedi to improve operational efficiency within our mine operation to ensure we continue to deliver results for the benefit of our shareholders – the people of Western Province and Papua New Guinea,” said Ilimbit.

Ok Tedi Mining Limited (OTML) marked a significant milestone with the successful signing of the 4th Community Mine Continuation Agreement (CMCA), featuring new and improved terms that reinforce the company’s enduring commitment to the communities of Western Province and Papua New Guinea.

The 4th CMCA delivers the largest increase in benefits in the agreement’s history – with up to an 80 percent rise across the board, and some regions receiving more than 100 percent increases in their current CMCA compensation packages. These benefits are not only larger in scale but broader in scope.

The new CMCA introduces three key components:
• Youth Development Programs to empower future generations
• Short-Term Investment Opportunities to promote economic sustainability
• Impact Projects Agreement to address social development gaps

“These additions reflect our belief that the future of our communities lies not only in mining, but in education, entrepreneurship and resilience,” said Ok Tedi Managing Director and Chief Executive Officer Kedi Ilimbit during the signing ceremony on 7 October.

Ilimbit acknowledged the presence of Prime Minister James Marape, State-Owned Enterprise Minister William Duma, Mining Minister Rainbo Paita, Minister for Livestock and Member for South Fly Seki Agisa, Deputy Opposition Leader and Member for North Fly James Donald, Western Provincial Governor Taboi Awi Yoto, Member for Delta Fly Agena Gamai, and members of the Fly River Provincial Government.

Also in attendance were landowner leaders, community representatives, statutory agencies and government departments, all of whom joined in celebrating this milestone achievement built on more than a year of inclusive dialogue and negotiation.

The ceremony was witnessed by the Board and Management of Kumul Minerals Holdings, Mineral Resources Development Company (MRDC) management, Mineral Resources Authority Managing Director Jerry Garry, PNG Sustainable Development Program Limited management, Department of Mineral Policy and Geohazards Secretary Harry Kore and his team, and National Energy Authority Managing Director Ronald Maketa.

“This agreement is the result of a rigorous dialogue process grounded in Free, Prior and Informed Consent,” said Ilimbit. “Every village had the opportunity to engage, ask questions and make informed decisions with the support of independent legal advisors. It has been a long journey, lasting 19 months but one that reflects our shared values of transparency and respect.”

Mine village and CMCA leaders, women and youth representatives also commended Ok Tedi for the improvements to the CMCA benefits package and for its willingness to work collaboratively to achieve an outcome favourable to all parties.

Since the inception of the CMCA in 2001, the agreement has ensured that 152 CMCA villages and six mine villages have a direct voice and stake in the mine’s operations. Today, these communities are not only beneficiaries but shareholders, owning 21 percent of shares in Ok Tedi through Mineral Resources CMCA Holdings and Mineral Resources Star Mountain.

The remaining 12 percent of the 33 percent total shareholding by Western Province is held by the Fly River Provincial Government.

“As we honour PNG’s 50th Independence Anniversary, Ok Tedi remains proud as a pillar of nation-building. We are not just a mining company – we are a company owned by Papua New Guineans, serving Papua New Guineans and building Papua New Guinea,” said Mr Ilimbit. “Our legacy is measured not just in ounces of gold or tonnes of copper, but in the schools, health posts, infrastructure and sustainable livelihoods that will remain long after the mine closes.”

Ilimbit said, "To our landowners: thank you for your trust, patience and partnership. Ok Tedi belongs to all of us, and together, we will continue to make it a source of pride for Papua New Guinea.”

Ok Tedi Mining Limited (Ok Tedi) has officially commissioned its new Mine Operations Workshop, a modern facility purpose-built to support the maintenance of the company’s recently introduced fleet of XDE 260 XCMG electric trucks.

Named “Workshop 50” in recognition of Papua New Guinea’s 50th Independence Anniversary, the facility represents a major step forward in strengthening Ok Tedi’s mining operations, offering increased capacity and tailored facilities to service the larger and more advanced truck fleet.

Ok Tedi anticipates operating a total of 15 electric trucks by the end of the year. The company currently runs 10 units, with five more being assembled. The XCMG trucks are used to haul ore and waste from the mine to the crusher and waste dumps respectively.

Designed and equipped to meet the unique maintenance needs of the XCMG electric fleet, the new workshop is expected to enhance operational efficiency and reduce downtime.

Ok Tedi Mine Manager for Mobile Maintenance Tommy Mambu thanked Ok Tedi Managing Director and Chief Executive Officer Kedi Ilimbit and the Ok Tedi Board, saying the investment reflects the company’s ongoing commitment to innovation and operational excellence.

“The new Mine Operations Workshop gives us the capacity and capability to properly maintain our electric truck fleet, ensuring safe, reliable and efficient operations. It is another important milestone as we modernise our mining fleet and invest in the long-term future of our operations,” Mambu said.

The construction and commissioning were completed within budget, with additional works including the installation of a 50-tonne crane and lube facility delivered through project contingencies and cost optimisations. Thorough commissioning checks were carried out prior to the official handover.

Despite challenges such as adverse weather and budget pressures resulting from changes to scoped requirements, the project team applied adaptive planning and close coordination to mitigate delays and ensure safe delivery.

Ok Tedi General Manager Operations Ben Burger underscored the strategic importance of the new facility.

“The new workshop will primarily benefit the Mine Maintenance Department, but its impact will extend across the broader Ok Tedi business by enabling more reliable fleet performance,” Burger said.

This milestone supports Ok Tedi’s 2050 Growth Strategy, with a focus on transformational growth and sustainability, paving the way for a stronger and more resilient future for the company and its shareholders.

Ok Tedi Mining Limited (OTML) is a majority state-owned company that operates an open-pit copper, gold and silver mine located in the Star Mountains of Western Province, Papua New Guinea. The company exports copper concentrate to smelters and refineries in Japan, the Philippines, Indonesia, South Korea, India and Germany.

Operating in the region for over 40 years, Ok Tedi has made a significant contribution to development in Western Province through direct and indirect employment, royalties, compensation payments and business opportunities.

The PNG Chamber of Resources & Energy (PNG CORE) has commended the PNG Extractive Industries Transparency Initiative (PNGEITI) on the recent launch of the 2023 PNGEITI Annual Report.

This annual report represents a signpost for the resources sector and a milestone in the industry’s collective commitment to transparent, accountable and responsible resource governance that serves all Papua New Guineans.

It also provides a detailed, data-driven view of payments flowing from the extractive sector to the State and state-owned enterprises (SOEs), including taxes, royalties, dividends and equity-related payments.

In 2023, the extractive sector contributed significantly to Papua New Guinea’s economy, accounting for:

• 27.4% of GDP
• 23.1% of direct government revenue
• 88.6% of total export earnings

PNG CORE reaffirmed its unwavering commitment to the principles of EITI — transparency, accountability, governance and sustainable development. Transparent reporting builds trust, reduces conflict, enhances investor confidence and strengthens the social licence for member companies to operate.

The 2023 EITI Report underscores the importance of robust, consistent reporting to shed light on where resources come from, how they are allocated and where gaps may exist — enabling policymakers, revenue authorities and communities to make informed, evidence-based decisions.

Key payments and contributions in 2023:

• K3.6 billion (US $857 million) in mining and petroleum taxes paid to the IRC
• K843 million (US $201 million) in salary and wages taxes paid to the IRC
• K1.67 billion (US $398 million) in equity payments to state-owned enterprises
• K680 million (US $162 million) in royalty payments to landowners, local-level governments and provincial governments
• K564.5 million (US $135 million) in mandatory and discretionary social contributions
• K366 million (US $87 million) in development levies to subnational governments
• K218 million (US $52 million) in infrastructure tax credits

Transparency achieved through EITI reporting has been instrumental in identifying opportunities to improve tax administration, royalty flows and the management of state equity interests.

PNG CORE remains open to collaboration with government, regulators and communities to strengthen systems, close gaps and ensure that taxation and revenue mechanisms serve the public interest without compromising the competitiveness and viability of the resource sector.

“We support ongoing EITI reporting cycles and independent assurance to maintain high standards of accuracy and accessibility. We encourage the use of EITI findings as constructive input into policy reform, ensuring that changes promote fairness, predictability and sustainable development,” said Senior Vice President Richard Kassman.

PNG CORE commends the PNGEITI for its continued leadership in promoting accessible and impactful disclosures, and for fostering a collaborative environment where industry, government and civil society work together to translate resources into lasting development outcomes for Papua New Guinea.

The Special Parliamentary Committee on Public Sector Reform and Service Delivery has held a high-profile inquiry into the integrity of alluvial gold operations in Papua New Guinea, bringing together key state regulators and industry players for a series of presentations and Q&A sessions.

The inquiry aims to address long-standing issues in the alluvial gold sector, including compliance, regulation, environmental impact and the role of state agencies in ensuring transparency and accountability. Alluvial gold mining, largely carried out by small-scale miners and local enterprises, remains a critical income stream for rural communities, but concerns about governance, environmental protection and revenue flows have triggered renewed parliamentary scrutiny.

In the first session, the Committee heard from state authorities tasked with oversight of the sector. Each agency presented its involvement in the industry, its current challenges and its approach to improving regulatory effectiveness.

These agencies included the Mineral Resources Authority (MRA), Bank of Papua New Guinea (BPNG), Conservation and Environment Protection Authority (CEPA), Immigration and Citizenship Authority (ICA), PNG Customs, National Airports Corporation (NAC) and Maritime Transport Authority.

Committee members engaged the regulators in a robust Q&A session, raising critical questions about coordination gaps, weaknesses in enforcement and opportunities for digital monitoring of gold exports.

The second session featured representatives from the alluvial gold industry, providing the Committee with first-hand perspectives from miners, enterprises and advocacy groups.

These representatives included the Artisanal Gold Council, Tribal Mining, Golden Valley Enterprise and Sustainable Alluvial Mining Services.

Industry participants also raised concerns about inconsistent enforcement of regulations, limited government support for artisanal miners and the need for stronger partnerships with state regulators.

Committee Chair and Governor of Northern Province, Garry Juffa, stressed that the inquiry was not only about uncovering challenges but also about charting a way forward for a transparent and sustainable alluvial gold sector.

The hearings emphasised the need for inter-agency collaboration, stronger compliance mechanisms and policies that balance economic benefits with environmental protection.

The Committee is expected to compile its findings into a comprehensive report with recommendations for reforms in regulation, oversight and support to small-scale miners.

The committee members are Garry Juffa (Chairman), Allan Bird, Rufina Peter, William Powi, Peter Ipatas and Marsh Narawec.

Great Pacific Gold Corp. has reported strong assay results from its expanded Phase 1 diamond drill program at the company’s flagship Wild Dog Project on New Britain Island, Papua New Guinea.
The latest results include surface samples of up to 127 grams per tonne (g/t) gold equivalent (AuEq) and drilling intercepts grading as high as 11.1 g/t AuEq.

Key results included:

• 0.8 metres at 127 g/t AuEq from surface sampling of the Main Vein.
• 2.4 metres at 22 g/t AuEq from additional surface samples.
• Hole WDG-09 returned 5.0 metres at 4.9 g/t AuEq from 169 metres depth, including 2.0 metres at 11.1 g/t AuEq.
• A second mineralised zone from 182.4 metres yielded 2.6 metres at 6.6 g/t AuEq, with copper grades up to 5.5% and elevated silver.

“Hole 9 was drilled approximately 30m to the north of hole 7, into an area where we had very little information,” said CEO Greg McCunn.

“The intercept with the main Wild Dog structure supports the continuity of the system. With hole 10 also intercepting the main structure a further 70 metres north (assays pending), we are increasingly confident in our geological model that is supporting the Phase 1 drill program,” McCunn said.

With the second rig being mobilized, the official said that Great Pacific is expecting to accelerate the completion of the planned 28 holes at Sinivit which are providing valuable information on vein orientation allowing us to start testing the system at depth.

“Mobile MT geophysics has highlighted significant potential at depth and along strike to both the North and South from Sinivit on the large-scale epithermal Wild Dog corridor,” he said.

The company said that recent mapping and sampling at the historic Southern Oxide pit confirmed high-grade mineralisation.

The recent mapping and sampling campaign in the historic Southern Oxide pit area was undertaken to support modeling of the vein structures intersected in drill holes WDG-03, 04, 05 and 06 earlier in the Phase 1 program. The high-grade results in the veins exposed in the historic pit confirm the high-grade nature of the system.

Exploration work continues across the 15-kilometre Wild Dog epithermal vein corridor. A second drill rig is being mobilised to site, and a high-resolution LiDAR survey covering 187 square kilometres of the Wild Dog district has been completed.

Results of the survey, which will support structural mapping and target definition, are expected by October 6.

The Phase 1 program began in May 2025 and is expected to run into early 2026, with 28 diamond drill holes planned. Drilling to date has tested only a small section of the corridor, which remains open to the north, south and at depth.

South Pacific Metals Corp. has reported exciting new assay results from its Ontenu NE prospect in Papua New Guinea, with rock chip samples returning high grades of gold, copper and silver.

The discovery, announced on 17 September, comes from the company’s Osena Project, located in the highly prospective Kainantu District. This region is already home to K92 Mining’s world-class Kainantu Gold-Copper Mine.

According to South Pacific Metals, field teams recently uncovered several new mineralised structures at Ontenu NE. Rock chip samples collected from outcrops returned values of up to 3.95 grams per tonne (g/t) of gold, 1.2 percent copper, and 603 parts per million (ppm) silver.

Other standout results included 7.69 g/t gold in a narrow vein with visible gold and 9.34 g/t gold with 272 g/t silver from a creek boulder.

 “Within a short time, we have found several new mineralised structures which we suspect could represent the upper levels of epithermal gold-copper veins,” said company CEO Timo Jauristo.

“To encounter high gold, copper and silver in some of these structures is encouraging. These results, with continuing mapping and sampling, will guide our drill planning. We hope to start drilling within the next month — the first drill holes in the Ontenu NE area,” Jauristo added.

The Ontenu NE target shows geological features similar to those at the nearby K92 Mine, with multiple gold-arsenic and copper soil anomalies stretching for more than a kilometre. Exploration is still at an early stage, with further mapping, trenching, and sampling underway before drilling begins.

The Osena Project, which covers 738 square kilometres of ground, is one of South Pacific Metals’ flagship ventures. Ontenu is considered particularly promising, with a cluster of five copper-gold porphyry and epithermal vein systems spanning an area 5 km by 3 km.

For Papua New Guinea, the results highlight the country’s growing profile as a destination for world-class mineral discoveries. For South Pacific Metals, the findings mark an important step toward unlocking the potential of the Osena Project.

New Porgera Limited (NPL) continues to invest in the growth and professional development of its people, with a team of eight Employee Development (ED) trainers recently completing the Certificate IV in TAE (40122).

The Certificate IV is a nationally recognised Australian qualification that equips trainers with the skills and knowledge to design, deliver, and assess training programs, including vocational training, to industry best-practice standards. Through this certification, NPL’s ED trainers are now able to provide high-quality, accredited training to the workforce, facilitating learning programs that meet both national and international standards.

“It is also a requirement for trainers delivering Resources and Infrastructure Industry (RII) units of competency, which cover critical areas such as Health, Safety, and Environment (HSE) training. Trainers must also maintain ‘currency’, keeping their skills and knowledge up to date so employees receive training that meets the latest industry and safety standards,” stated Employee Development Superintendent Gary Giles.

A certificate presentation was held on 16 August 2025, officiated by NPL General Manager James McTiernan. The event was also witnessed by Barrick Gold Corporation’s Asia Pacific Head of Human Resources, Richard Barley, and NPL Human Resources Manager Adlyn Nagwi.

The training was delivered in partnership with Harness Training, a Port Moresby–based Registered Training Organisation (RTO), and Plenty Training.

The achievement did not come without sacrifice. The trainers balanced their work responsibilities while dedicating personal time, including their field break days, to complete the course.

“This certification is a big step forward for me as a trainer. It has equipped me with advanced skills in training and development areas such as facilitating vocational training, facilitating workplace-based learning, assessing competence in online environments, designing training, and working effectively in the VET sector, among other areas of the subject,” ED Training and Safety Specialist Dickson Paul said.

This milestone is part of NPL’s broader vision to empower the national workforce, improve training quality, and leave a sustainable legacy in the communities where it operates.

Geopacific Resources Ltd. (ASX: GPR) has reported encouraging new drilling results from its 100 percent-owned Woodlark Gold Project in Papua New Guinea, including a potential new discovery adjacent to one of the site’s key deposits.

The company is midway through a 30,000-metre drilling campaign designed to expand known gold resources and test multiple new targets across the project area. The program, which combines reverse circulation (RC) and diamond drilling, is central to Geopacific’s aim of increasing Mineral Resources beyond the current 1.67 million ounces.

New find at Kamwak

Among the latest results, Geopacific highlighted a near-surface gold intercept at the Kamwak target, where drilling returned 7 metres at 2.48 grams per tonne (g/t) gold from 21 metres in hole KURC25005.

The company said seven RC drill collars completed across a 600-metre strike length at Kamwak had intersected previously unrecognised mineralisation. The target lies immediately adjacent to the 711,000-ounce Kulumadau gold deposit and shares geological characteristics commonly linked to mineralisation on Woodlark Island.

According to Geopacific, the RC hole was stopped short of its planned depth due to groundwater, but additional drilling is being planned to test the potential of the zone. “Diamond tails and further collar designs (RC & diamond) are being prepared to follow-up on this encouraging intercept, which highlights the potential for a significant new zone of gold mineralisation adjacent to the Kulumadau deposit,” the company said.

Geopacific CEO James Fox described the Kamwak results as a strong sign of the project’s growth potential. “These initial results from Kamwak are highly encouraging and demonstrate the significant growth potential that remains at Woodlark. With our 30,000 metre drill campaign underway, we are confident of delivering further resource growth beyond the current 1.67 Moz base.”

Wider drilling results

The company also reported additional promising intercepts from other targets within the project area. At Busai, drilling returned 2 metres at 11.4 g/t from 9 metres in hole BSRD25002. At Boscalo North, assays showed 4 metres at 2.92 g/t gold from 145 metres in hole KURD25015.

Exploration continues at the Great Northern deposit, where diamond drilling is currently focused on extending RC pre-collars. Once geotechnical drilling is completed, the program will also test broader regional targets.

Geopacific has mobilised an RC rig to the Woodlark King mining area to begin drilling at the Little MacKenzie and Wayai Creek prospects. These follow earlier surface auger and trench sampling that returned positive results, giving the company further confidence in the potential for new discoveries.

Expanding Kulumadau

In addition to exploration drilling, Geopacific is also considering opportunities to expand existing deposits. The company noted that geotechnical drilling at Kulumadau presents an opportunity to extend mineralisation by about 50 metres beyond the current pit design, potentially enlarging the planned mining area.

Progress to date

By the end of August 2025, Geopacific had completed 54 drill collars across five main prospects, totalling 4,567 metres. This included 3,411 metres of RC drilling and 1,156 metres of diamond core drilling.

A second diamond drill rig was mobilised to site in August and is now working on diamond tails to RC pre-collars at the Great Northern deposit.

The overall drill program has been divided into three categories: exploration targets, prospects with potential for new Mineral Resources, and Resource Development drilling. In total, 192 drill collars covering approximately 31,300 metres are planned under the current staged approach.

Looking ahead

With multiple exploration targets now underway and further results pending, Geopacific is positioning the Woodlark Gold Project for potential growth in its resource base. The company emphasised that several of the latest holes remain incomplete, with diamond tails still to be drilled or assays yet to be received.

The identification of mineralisation at Kamwak, alongside strong results from Busai, Boscalo North, and Great Northern, underscores the possibility of extending both the scale and scope of the project.

Geopacific said the combination of new discoveries and extensions to existing deposits supports its strategy of building on the 1.67 million-ounce resource base and advancing Woodlark as a key gold project in Papua New Guinea.