Search Results: 2022

Photo: Greg Pawson Kina Securities Limited, has reported an underlying net profit after tax of K106.1 million for the financial year 2022, representing a 10.3% increase from the prior corresponding period (PCP). Kina’s CEO, Greg Pawson, said that the result was "pleasing" and demonstrated the company's commitment to its strategic plan. He also highligh...

Photo: Prime Ministers Marape and Rabuka in Suva, Fiji Prime Minister Hon. James Marape says Fiji and Papua New Guinea must work together for the greater good of the Pacific Islands’ family of nations. He said this on Tuesday (February 21, 2023) after a bilateral meeting with Fiji Prime Minister Hon. Sitiveni Rabuka in Suva. PM Rabuka is also Chair ...

Photo: An empty service station at 8-Mile in Port Moresby after the fuel bowsers ran dry. The Government is now in serious discussions with Kumul Petroleum Holdings Ltd (KPHL) and three multi-national petroleum companies to find solutions for the fuel shortage in the country, with a major announcement expected soon, Prime Minister Hon. James Marape has...

Photo: Prime Ministers Albanese and Marape at Commander’s Beach at Moem Barracks in Wewak last month.- PM’s Office Media Prime Minister Hon. James Marape has welcomed the successful outcomes of the 29th Australia–Papua New Guinea Ministerial Forum which was held in Canberra, Australia, on February 17, 2023 “I welcome the outcomes of the very-success...

Photo: Managing Director with three awards: International Travel Award-Best Boutique Hotel 2022, World Luxury Hotel Award - Luxury Business Hotel 2022, and Luxe Global Awards-Best Luxury Hotel & Conference Center 2022 Situated at a hilltop haven at the center of Port Moresby overlooking the Seaview of Ela Beach is the remodeled, prestigious, and mo...

Photo credit: Geopacific Resources Geopacific Resources Limited is pleased to provide an update on corporate and project activities conducted at the Woodlark Gold Project together with an outline of planned future work programs for 2023. Outcomes from 2022 In February 2022 Geopacific announced suspension of development activities at the Project d...

Photo: 2023 Regional Tourism Consultation Workshop participants made up of the New Guinea Islands tourism industry and the PNG Tourism Promotion Authority.  The Papua New Guinea (PNG) Tourism Promotion Authority (TPA) has commenced a series of regional consultations on the development of a new PNG National Tourism Policy and Marketing Strategy. The ...

Statistics in 2022 have proven that the return of the Government’s investment in subsidizing price and freight for local coffee farmers is working. Coffee Industry Corporation (CIC) Acting Chief Executive Officer Charles Dambui said the K1 million price and subsidy funding generated K7 million last year, and the Government’s intervention of K30 million...

Mining or exploration licenses that are given to a company go through a process called a warden hearing. This gives opportunities to communities, individuals, or organizations to present their objections. The Alliance of Solwara Warriors, a coalition of coastal communities in PNG, recently held a warden hearing concerning seabed mining, but no official...

The Investment Promotion Authority (IPA) has assisted a small bee farming business in Simbu Province with bee keeping equipment to help boost its production capacity. Bussy Honey & Integrated Farming is a family business owned by Mr. Mek Degene and his wife Mrs. Matri Degene and located in Ainanimin Village in the Tabare LLG, Simbu Province.  The c...

Photo: The Warman Slurry Pumping Handbook is the definitive guide for most slurry pumping applications. Weir Minerals, manufacturer of the industry-leading Warman®  slurry pump, has released the latest edition of their coveted Warman® Slurry Pumping Handbook. The 6th edition, compiled by the most trusted name in slurry pumps, features detailed engineer...

Photo credit: PNG LNG The PNG LNG project has generated K16.5 billion for the state over eight years of production (2014-2022). This includes K7.5 billion to Kumul from the state's 19.4% equity, K1.3 billion paid to the Mineral Resources Development Corporation, K0.8 billion in royalty payments, K0.7 billion in development levy payments, and K6.2 billi...

Photo: Minister for Trade and International Investment, Hon. Richard Maru Special Economic Zones are a launching pad for economic development in the country, and the current government has taken a decisive stance under the leadership of current Prime Minister James Marape by setting up and legislating 18 SEZs in 2019. This policy was the brainchild ...

Photo credit: Paga Hill Estate The Yangoru-Saussia District in the East Sepik Province is undergoing a phase of significant and progressive transformation as local farmers will benefit from a direct cash injection that will see a new revolution in cocoa production. Currently, the Cocoa Board has reported that the district produced 9,000 metric tons ...

Photo credit: K92 Mining Inc K92 Mining Inc is pleased to provide its operational outlook for 2023. The Company expects gold equivalent production of 120,000-140,000 ounces, while also delivering low-cost production with an estimated cash cost of $620-$680 per ounce gold and AISC of $1,180-$1,300 per ounce gold. Cash cost and AISC per ounce have increa...

The National Government continues to embark on prioritizing its "Connect PNG Economic Road Transport Infrastructure Development Programme 2020-2040" with its delivery target set for 2040. This means by 2040, PNG will have access to 100 per cent road connectivity, connecting more than six million people to massive services and economic opportunities. Th...

Photo: BSP Group GM for Corporate Banking, Peter Beswick “Business and consumer confidence continued to improve during the final quarter of 2022, with anecdotal evidence across a broad section of our retailers and hotel operators experiencing record pre and post-Christmas sales activity”, said BSP Group GM for Corporate Banking, Peter Beswick. In gi...

Photo: BSP Acting Group Chief Executive Officer Ronesh Dayal Papua New Guinea's economy through the course of 2022, has experienced higher levels of activity post the COVID-19 period. To maintain this shift in momentum, government needs to accelerate foreign direct investment (FDI) in 2023. According to the 2022 BSP Quarter 4 Pacific Economic and Ma...