Search Results: 2022

The Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) convened a Beneficial Ownership (BO) Technical Working Group meeting, bringing together key stakeholders to discuss strategies for enhancing BO transparency within the extractive sector. Representatives from the Bank of Papua New Guinea’s Financial Analysis and Supervision Unit (...

The Port Moresby Chamber of Commerce and Industry (POMCCI) and Business Advantage International recently hosted the “Women in Tech Business Breakfast,” part of the lead-up to Innovation PNG 2025. The event showcased a distinguished panel of women excelling in the fields of finance, software development, aviation, and digital transformation.  The eve...

Papua New Guinea’s economy is set to continue its strong recovery in 2025, fueled by robust resource exports, a record trade surplus, and solid government spending, according to the latest PNG Westpac Wailis, a quarterly economic update providing in-depth insights into the country’s economy. However, economic challenges remain, including persistent inf...

Prime Minister Hon. James Marape has commended the Ministry of Coffee, Ministry of Livestock, and Ministry of Oil Palm for their outstanding performance in 2024, highlighting their contributions to economic growth, rural development, and Papua New Guinea’s agriculture sector. Speaking after a meeting with Agriculture Minister Hon. John Boito, Coffee Mi...

Digicel PNG recently announced a major milestone in its mission to enhance connectivity across Papua New Guinea. Since April 2022, Digicel PNG has significantly expanded its network, reaching all 21 provinces and the Autonomous Region of Bougainville, enabling more Papua New Guineans to get connected. Over the past two years, Digicel PNG has built 115 ...

A special audit into Papua New Guinea’s largest infrastructure initiative, the Connect PNG Programme, will commence in March following the signing of an agreement between the government and two independent firms. The agreement was signed on February 25 by Acting Chief Secretary to Government Ivan Pomaleu, Deloitte Touche Tohmatsu, and Norths Projects L...

PNG Ports Corporation (PNG Ports), the dominant port operator and marine pilotage leader in Papua New Guinea, has raised the standard of PNG’s pilotage services following a programme of LNG tanker training undertaken in Port Moresby and Brisbane. Theoretical, practical, and simulator training finessed the skillsets of six of PNG Ports’ most experienced pi...

Conveniently located in the central business area, the new premise will enable Swire Shipping to be closer to its customers, partners and the community Swire Shipping has announced its move to a new office location in the central business area, at Gordons Business Centre, commemorating this milestone with a celebration attended by over 70 guests compri...

The long-standing dispute over the Kutubu Petroleum Development License 2 (PDL 2) benefit-sharing structure has reached a critical point, with landowners issuing a 14-day ultimatum to the national government to reinstate the original benefit-sharing arrangement. In response, the Minister for Petroleum, Hon. Jimmy Maladina, assured all parties that the ...

Prime Minister Hon. James Marape has provided assurances on the K1.4 billion (approximately A$580 million) loan from the Australian Government, stating that it is well within Papua New Guinea’s 2024 Budget framework and does not increase the country’s debt burden beyond planned fiscal targets. Speaking at the NASFUND FM100 Talkback Show launch, PM Mara...

K92 Mining Ltd. has announced a series of leadership changes and highlighted the significant contributions of Dr. Chris Muller and Dr. Mark Schubert, both of whom have played instrumental roles in the company’s achievements. Dr. Chris Muller, who joined K92 in 2016, most recently served as the Executive Vice President – Exploration. Dr. Muller was a me...

One of the most pressing issues raised by Papua New Guinea’s Minister for Foreign Trade and Investment, Hon. Richard Maru, is the state of the oil palm industry, which he described as being in “a mess.” MP Maru revealed that the government has commissioned an independent investigation to address regulatory gaps, pricing disparities, laws, and policy, i...

The signing of the K260-million Kimbe Rehabilitation and Upgrade Marine Package contract, awarded to Pacific Marine Group (PMG), was made official on January 16 at the Kumul Consolidated Holdings (KCH) Boardroom in Port Moresby. Work on the Kimbe Port is expected to commence at the end of the first quarter of 2025 and would be completed within 16 month...

Western Province, home to Papua New Guinea’s largest mine, celebrated a significant milestone with the official launch of its Provincial Integrated Development Plan (2023-2027) and Four District Development Plans (2023-2027) at Daru Oval. The launch event held on January 17 drew over 1,000 people, including key stakeholders, development partners, and r...

The Goilala District Development Authority (DDA) has prioritized heavy investment in agriculture, particularly in coffee farming, in close collaboration with the Goilala Development Corporation Limited (GDCL) becoming the first 100% local business to purchase coffee directly from local farmers. Goilala, in the Central Province of Papua New Guinea, is k...

Ok Tedi Mining Limited (OTML) recently graduated 29 trainees under its Graduate Development Scheme (GDS) and 12 Apprentices from its Apprenticeship Training Program during a combined graduation in Tabubil on December 19th, 2024. The graduate trainees who completed two years of training were part of the 2022 GDS recruitment. OTML has now trained a total...

Ok Tedi Mining Limited (OTML) is on track to generate US$1.5 billion (K5.8 billion) in revenue for 2024. This is a significant increase from 2023 (31%), 2022 (45%) and 2021 (98%). Managing Director & Chief Executive Officer, Kedi Ilimbit, announced the record revenue at the 2024 PNG Chamber of Resource & Energy Investment Week Conference in Syd...

The Port Moresby Chamber of Commerce & Industry (POMCCI), in collaboration with Deloitte, hosted the Papua New Guinea 2025 Budget Breakfast, provided key insights into the budget and highlighted its implications for businesses and opportunities for the private sector. The breakfast meeting was held on November 4, at the Hilton Hotel in Port Moresby. ...