Search Results: 2022

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. ...

Plastic pollution has become a critical global challenge, driven by increasing production and inadequate waste management. Recognizing its urgency, 175 nations adopted the resolution “End Plastic Pollution: Towards an International Legally Binding Instrument” during the United Nations Environment Assembly (UNEA-5.2) in March 2022. This resolution in...

Papua New Guinea (PNG) is set for economic recovery in 2024, with projected growth of 3.7%, up from 2.8% in 2023, according to the November 2024 WESTPAC WAILIS PNG Economic Update. This rebound is largely attributed to the resource sector, which continues to underpin the nation’s economy. However, inflationary pressures, a managed depreciation of the k...

The Papua New Guinea Tourism Promotion Authority (PNGTPA) has officially partnered with the Jimi District Development Authority (JDDA) in Jiwaka Province to enhance local tourism and promote local culture on a global stage. This was formalised through a Memorandum of Understanding (MOU) signed on October 11 at the Ela Beach Hotel in Port Moresby. PN...

The Head of the Japan International Cooperation Agency (JICA) in Papua New Guinea (PNG), Matsuoka Hideaki, has urged the PNG government and its implementing agencies to maintain strong leadership, foster continued cooperation, and ensure that arrangements with donor agencies like JICA are upheld. This is essential to maximise the benefits derived from the...

Bank of Papua New Guinea (BPNG) Governor Elizabeth Genia recently outlined the September 2024 Monetary Policy Statement, amid the ongoing economic challenges and the central bank's strategies to stabilize the nation's economy. The presentation took place on October 7th at the Royal Papua Yacht Club in Port Moresby. Reflecting on the previous March M...

Abau District Member of Parliament, Sir Puka Temu, has urged the Papua New Guinea (PNG) government to adopt e-health solutions to overcome the healthcare challenges posed by the country's remote geography. Speaking at the launch of the pilot Waste-Zone Project at Kupiano Health Centre, Central Province, Sir Temu emphasized the need for digital infrastr...

Commentary by: Michael McWalter Michael McWalter explains the important responsibility to care for the vast amount of petroleum data submitted to the Government by operating petroleum companies and for the need for the establishment of a National Petroleum Data Centre in Papua New Guinea to cater for the vast amount of information arising from petroleu...