Search Results: 2022

Photo credit: Kingston Resources Kingston Managing Director, Andrew Corbett, said: “The June quarter has been another period of significant activity, with the headline being the announcement of Misima’s much anticipated DFS results confirming the Project’s potential for a large-scale, long-life, low-cost gold mine. The DFS delivered total production of...

St Barbara Managing Director and CEO Craig Jetson said, “St Barbara has finished the year strongly, achieving both our production and cost guidance at a site and group level for FY22. Against the headwinds of cost inflation and COVID-19 impacts on our workforce availability as well as associated travel restrictions this is a rewarding result. It was achie...

Photo credit: Papua New Guinea Customs Service The PNG Customs Service and Investment Promotion Authority (IPA) have renewed their partnership to work together in relation to trade, border protection and facilitation, promoting investment including intellectual property enforcement. In order to advance their continuous collaboration, customs chief c...

Photo credit: Post Courier  Tourism Promotion Authority will invest a capital of K1 million into creating package tours to boost domestic tourism in the country. A Memorandum of Agreement (MoA) for a Travel Subsidy Partnership between Air Niugini Limited and PNG Tourism Promotion Authority (TPA) has been signed. TPA Chief Executive Officer Eric U...

Following the overland belt failure earlier this year, the Hidden Valley mine has resumed full operation, according to CEO Peter Steenkamp. Following the event, full production of the Morobe project, operated by Harmony Gold Mining Company Ltd., has resumed. This was emphasised by Steenkamp in the company's financial year report that ended on June 3...

The Independent Advisory Group overseeing the review of the Central Banking Act 2000 and Financial Sector Regulation has been given the clearance to go ahead with Phase II of the review. Chairman Robert Igara in a public notice said: “With the successful completion of IAG’s phase I work and decision of the National Executive Council in November 2021, t...

“Foreign Exchange (FX) market inflows gained momentum in June Quarter. FX inflows are expected to seasonally taper in September Quarter, and outstanding FX orders build-up again,” says BSP Group General Manager – Treasury, Rohan George. “As FX flows can be lumpy, we expect there to be periods where outstanding FX orders build up,” said George. Accor...

Santos Managing Director and Chief Executive Officer Kevin Gallagher said Santos delivered record production, sales revenue and free cash flow in the first half of 2022, demonstrating the strong performance of the base business and strategic benefits of our diverse portfolio, despite a number of major planned shutdowns in the second quarter. Strong pro...

Photo credit: TotalEnergies TotalEnergies, as operator, has announced the decision of the Papua LNG joint venture to launch the first phase of front-end engineering and design (FEED) studies for the Papua LNG project's upstream production facilities. In parallel, studies for the downstream liquefaction facilities are progressing in line with the ove...

The price of goods and services have continued to increase since the second quarter of 2021, with Consumer Price Index (CPI) rating closing the first quarter of this year at 6.9 percent – the highest level rating since 2010. To counter this high domestic inflation, the Bank of PNG has tightened the Monetary Policy by increasing the Kina Facility Rate (...

The reopening of the Porgera Gold Mine will be a catalyst for continued growth post-COVID despite it currently being on hold due to a delayed stakeholder sign off on the Porgera Project Commencement Agreement and Shareholder Agreement. BSP Group CEO Robin Fleming in providing his insight in the BSP Pacific Economic and Market Insight Q2, 2022 Report sa...

Photo: Port Moresby 1980 For 50 years Bishops has been an integral part of the ongoing development of Papua New Guinea through the supply and service of products to a multitude of projects, agriculture, mining, forestry, manufacturing, marine, industrial and of the last decade the evolving oil and gas industry. Bishops in many ways, has grown and devel...

Photo: Prime Ministers Albanese and Marape in Suva. Prime Minister Hon. James Marape met Australian Prime Minister Anthony Albanese on Thursday (July 14 2022) at the Grand Pacific Hotel in Suva, prior to the convening of the 51st PIF Leaders Retreat at the PIF Secretariat Headquarters. Being the first meeting since PM Albanese was elected, their ini...

Photo credit: A Pacific Trade Invest survey for Pacific Island exporters has revealed that despite over half of all responding businesses reporting a decline in export orders over the past 12 months, respondents are confident the future holds promise with two out of three businesses expecting an increase in export orders over the next 12 months. The...

PAPUA New Guinea’s economy has weathered the Coronavirus (Covid-19) pandemic well despite many challenges, according to Treasurer Ian Ling-Stuckey. Ling-Stuckey said according to the International Monetary Fund (IMF), “PNG economy is expected to grow from K79.4 billion in 2018 to K109.3 billion in 2022”. “The increase over the last two years of K23....

Photo credit: K92 Mining Inc. K92 Mining Inc. announces production results for the second quarter (“ Q2 ”) of 2022 at its Kainantu Gold Mine in Papua New Guinea, of 26,085 oz AuEq or 22,934 oz gold, 1,229,961 lbs copper and 25,224 oz silver. Sales during the second quarter were 23,674 oz gold, 1,349,816 lbs copper and 27,033 oz silver. During the se...

Photo credit: Steamships On Saturday, June 12, 2022, Steamships and Moore Printing handed over cheques for PGK100,000 to The Hands of Rescue Foundation (THOR). Present to witness the donation were General Manager Corporate Affairs Vele Rupa, Moore Printing Managing Director David Doig and THOR founder Dr Barry Kirby. THOR is a Papua New Guinean non-...

Photo credit: Air Niugini Facebook page Air Niugini has advised the travelling public that effective from 06th August 2022, the airline will resume direct services to Honiara, Solomon Islands and Nadi, Fiji. The resumption of services has been made possible by the relaxing of border restrictions in the two countries, and flights will initially opera...