Search Results: 2022

St Barbara Limited now expects Simberi will produce between 25-30koz at an AISC of $3,200-3,600 per ounce in FY22. Group FY22 production has been updated to 275-290koz and AISC of $1,750-1,870 per ounce. Guidance for Leonora and Atlantic remain unchanged.  St Barbara Limited withdrew guidance for its Simberi operations on 18 February 2022 due to signif...

According to Coffee Industry Corporation Ltd (CICL) board chairman Jerry Kapka, the increase in the levy on green bean coffee exports from 10t to 20t per kilogramme is reasonable. “The increase is not same as 10t administrative levy. With the current scenario facing the coffee industry, the board has seen the need to have a reserved funding source assi...

Senior executives from Newcrest flew into Kavieng to pay Governor Sir Julius Chan and his administration a courtesy visit. Sandeep Biswas, the managing director and CEO, was joined by Stanley Komunt, the national manager, Tim Bryson, the strategic engagement manager, and Felix Kipalan, the environment, social, and government manager. Discussions cen...

Photo: Rocky Roe - ABC According to Ambassador Jernej Videtic, the European Union (EU) is willing to provide Papua New Guinea with hundreds of millions of Kina to help the country complete its forestry reforms. “Some of the areas that the EU will help are in environmental data management for carbon trading, knowledge management, green jobs and growt...

Photo: The Usino Junction along the Ramu Highway. To the left is Madang, to the right is Ramu Valley leading on to Markham Valley, and the road in the middle is to Ramu Nico. Hon. Prime Minister James Marape has announced that a K159 million contract for the Ramu Highway in Madang has been awarded, as well as a K43 million contract to expand the North ...

Ian Tarutia, president of the Papua New Guinea Chamber of Commerce and Industry, is pleased to hear that the Porgera Mine will reopen next month. “The closure two years ago and its consequences had an adverse impact on the country’s economy in terms of foregone tax revenue, royalties and unemployment of more than 3,000 workers,” he said. “We are hop...

Photo credit: Bougainville Copper Limited The Panguna Mine Legacy Impact Committee held its second meeting early this month in preparation towards the detailed impact assessment set to commence in mid-2022. The Committee heard a presentation from the technical consultant Tetra Tech Coffey where they presented their initial findings and recommendatio...

Timothy Masiu, the Papua New Guinea Minister for Information and Communications Technology, has welcomed the National Information and Communications Technology Authority's (NICTA) decision to give formal written consent on the transfer of license rights to Telstra as a result of Digicel Pacific's proposed acquisition, particularly on Digicel PNG Limited a...

When the Porgera mine reopens, Papua New Guinea Prime Minister James Marape says 3,500 former employees would be given "first consideration for jobs." According to him, the government had requested that all former mine personnel be given priority consideration. Marape was responding to a question about the Porgera Mine and Allied Workers Union urging t...

Black swan International has appointed and announced Mr. Shane Harden as their new General Manager in February earlier this year, 2022.  Shane’s appointment as General Manager of Black Swan International brings a wealth of senior management and security expertise as he has a great track record built on his experience in the Australian Army followed by a s...

Photo credit: Geopacific Resources - Figure 1: Kulumadau cross section Geopacific Resources Ltd is pleased to provide further updates on its successful grade control and resource extension drilling at the Woodlark Gold Project. Chief Executive Officer, Tim Richards commented  “The grade control drilling campaign continues to deliver encouraging...

Photo credit: Holiday Inn & Suites Port Moresby A powerful panel of five (5) consisting of three female leaders in the community and two male IHG leaders were on centre stage at the hotel’s Gekko Bar. Surrounded by an audience of Holiday Inn staff and management, the theme #BreakingTheBias was the focus of the day. Sharing experiences, overcomin...

The K19 billion (US$5.4 billion) Wafi-Golpu project must benefit landowners and the people of Morobe, according to Papua New Guinea's Morobe Governor Ginson Saonu. “The ongoing development of the Wafi-Golpu mining project (shows) our commitment to ensure that the people of Morobe favourably benefit from this project,” he said. “The Morobe government...

According to kina Bank's chief executive officer Greg Pawson, the Papua New Guinea economy would revive this year, with positive gross domestic product (GPD) growth. In Port Moresby, Pawson noted that the government's support for resource projects such as Papua LNG, as well as more to come, will bring foreign investment into the country over the next s...

Following the Independent Consumer and Competition Commission's decision to reject Kina Bank's bid to buy Westpac's interest in Westpac PNG Limited, Kina Bamk would no longer explore the Westpac purchase deal. According to Kina Bank CEO Greg Pawson, this is the case. Mr Pawson explained that one of the factors that made it difficult for Kina Bank in...

Photo credit: Loop PNG Bougainville communities will benefit from a new K10 million grant to help 25 Bougainville cocoa cooperatives under the Bougainville Partnership Commodity Support Facility (CSF). The money provided to the Takuina Women's Business Group, according to Noelyn Lasua of the Takuina Women's Business Group, would yield positive outco...

Hon. Prime Minister James Marape has announced the payment of K33.7 million to upstream PNG LNG Project landowners of Petroleum Development License (PDL) 7 in Hela, consisting of K19.7 million in cash and K14 million in project component. The Mineral Resources Development Company was used to make the payment (MRDC). PDL 7 was one of a series of upst...

Photo credit: Christine Gneh According to a new World Bank estimate, Papua New Guinea's GDP is expected to increase by 4% in 2022, owing mostly to expansion in the extractives industry. The research, PNG Economic Update: Navigating a Fragile Recovery, examined major recent changes in PNG's economy and placed them in a longer-term and global perspect...