Search Results: 2022

Photo credit: Ry Crozier - Telstra The Independent Consumer and Competition Commission (ICCC) ruled that Telstra's planned acquisition of Digicel PNG would not impair competition in the telecommunications industry, thus the deal is likely to go forward. Members of the public can still offer their opinions, which will be taken into account, according...

The Enga Provincial Executive Council (PEC) has adopted the National Government's revised project framework for reopening the Porgera mine in April this year. While announcing the PEC approval over the weekend, Enga Governor Sir Peter Ipatas praised the National Government for its goal to reopen the world-class Porgera Gold Mine under a new project fra...

K92 Mining Inc. announces production results for the fourth quarter of 2021 at its Kainantu Gold Mine in Papua New Guinea, of 36,145 oz AuEq or 33,220 oz gold, 1,048,100 lbs copper and 28,218 oz silver. Annual production also achieved a record of 104,196 oz AuEq or 95,055 oz gold, 3,375,528 lbs copper and 70,792 oz silver, exceeding the updated guidance r...

Photo credit: Ok Tedi Mining - Part of the Tabubil/Telefomin road currently under construction is one of the TCS funded projects. Ok Tedi Mining Limited (OTML) has signed a PGK50 million project agreement to commence the upgrading and sealing of the Kiunga-Tabubil Highway.  The agreement was signed today (11th January 2022) in Port Moresby between O...

Photo credit: Ok Tedi Mining - Part of the Tabubil/Telefomin road currently under construction is one of the TCS funded projects. Ok Tedi Mining Limited (OTML) has commended the National Government for the increase in the Tax Credit Scheme (TCS) ceiling from 0.75% to 2% as announced in the 2022 National Budget. The change, along with strengthening p...

Photo: PM Marape launches the new online tax payment platform, MyIRC, with Commissioner-General Koim and managers of IRC Despite a hard economic climate brought on by COVID-19, the Marape Government's commitment in reinvigorating the Internal Revenue Commission (IRC) is paying off with a revenue collection of a record K8.1 billion in the year 2021. ...

Photo credit: Ok Tedi Mining Ok Tedi Mining Limited (OTML) Chairman Dr Roger Higgins recently announced that the Company has declared a final dividend of PGK300 million which was paid on Friday 24th December to its shareholders, bringing total dividends paid by OTML this year to PGK450 million. Dr Higgins noted that despite a fire incident at the mi...

The Twinza Oil Limited Board of Directors is pleased to announce the appointment of Robert Gard as the Company’s new Chief Executive Officer, commencing on Monday 17th January 2022. Robert has over 35 years of experience in oil and gas including 12 years as a senior executive in junior Australian-based oil and gas companies and 23 years at ExxonMobil. ...

The Autonomous Bougainville Government has approved a budget of nearly K500 million for the fiscal year 2022. The 'One Post Referendum Budget' was the topic of the 2022 ABG Budget, which was presented in parliament by ABG Minister for Treasury and Finance Hon. Salas, Mathias “The budget directly addresses all priorities that the ABG has set towards ...

According to the current issue of the Asian Development Bank's (ADB) Pacific Economic Monitor (PEM), the Pacific economies are expected to return in 2022. While the Pacific region's GDP prediction was cut to -0.6 per cent in 2021 in the ADB study, the subregion is expected to increase by 4.7 per cent in 2022 as widespread immunization against coronavir...

Photo credit: Mayur Resources Mayur Resources Limited’s 100% owned subsidiary company, Mayur Iron PNG Ltd’s (“Mayur”) Orokolo Bay Iron and Minerals Sands Project (“Orokolo Bay” or the “Project”) in Papua New Guinea (PNG), is a major step closer to production with the PNG Government announcing today it has granted the project a 20- year Mining Lease (ML...

The third Papua New Guinea-Australia Annual Leaders' Dialogue was conducted virtually on December 8, 2021, between Prime Minister Scott Morrison and Prime Minister James Marape. The two Prime Ministers recognized the fundamental importance of the bilateral relationship between Australia and Papua New Guinea, as well as our shared interests in a safe, s...

Photo credit: Australian High Commission by Stephen Howes When the COVID-19 pandemic hit, the Australian government reversed its earlier policy of cutting aid, and started to increase it. Aid increased from 2019/20 (before the pandemic) from $4.29 billion to $4.56 billion in 2020/21 (the first year of the pandemic). (All amounts are adjusted for inf...

CEFI Executive Director Saliya Ranasinghe (3rd from left), Bank of PNG Assistant Governor Ellison Pidik (4th left) and AOR / Development Assistance Specialist, USAID Julie Hulama and Maurice Knight (Cardno LGP Chief of party) with the signed financial inclusion partnership documents. The Lukautim Graun Program (LGP) — funded by the United States Agency...

Photo credit: K92 Mining K92 Mining Inc. is pleased to announce results from the ongoing underground diamond drilling of the Kora deposit at the Kainantu gold mine in Papua New Guinea. The results for the latest 50 diamond drill holes completed from underground into the Kora deposit are summarized in Table 1 below. The results continue to demonstrat...

During his official visit to West Sepik, James Marape inaugurated a number of impact initiatives. PM Marape described his visit as a watershed moment, not only for the official opening of the new West Sepik Provincial Administration Building but also for the announcement of other significant projects. “I want to acknowledge the leadership of the Gov...

By the year 2030, Papua New Guineans could anticipate decent healthcare services "within an hour's reach" across the country, according to Prime Minister Hon. According to James Marape. As he summarized the National Health Plan 2021– 2030 before unveiling it in Port Moresby, the Prime Minister gave this command to the Department of Health, namely the H...

According to Prime Minister James Marape, the multi-billion kina Porgera mine will reopen in April of next year. He said that Papua LNG, P'Nyang, and Wafi-Golpu, the country's three main significant resource projects, were "on track." The government also aims to "finish off" the Pasca A oil and gas project. “For Porgera, work to restart (the mine...