Search Results: 2022

The 30th Papua New Guinea-Australia Ministerial Forum was held on 19th to 20th June, at the APEC Haus, in Port Moresby. The Ministerial Forum is an opportunity for Ministers from a range of key policy areas to advance PNG- Australia Partnership and shared priorities. The Ministerial Forum builds on the commitments from the Annual Leaders' Dialogue betw...

Papua New Guinea’s Kina Bank has announced a significant $7 million investment in WLTH, a rapidly growing Queensland-based fintech and neobank startup. This investment aligns with the goals outlined in the Queensland Pacific Trade and Investment Strategy, which was launched in November 2022 to bolster trade and investment opportunities in the region. A...

Australia has approved a significant loan of A$600 million (K1.54 billion) to Papua New Guinea to address the country’s 2023 budget shortfall and support essential economic reforms. This financial assistance follows a previous A$750 million loan provided in 2022, reflecting Australia’s continued commitment to aiding Papua New Guinea’s fiscal stability and...

St Barbara Limited recently announced revisions on their FY24 Guidance in relation to its Simberi operations updates. "St Barbara Limited (“St Barbara” or the “Company”) (ASX: SBM) is pleased to advise the outcomes of its Simberi Expansion Concept Study (“Concept Study”) and inclusion of the projections in this 10 Year Plus Mine Plan Outlook." "The ...

Pacific Towing (PacTow) has appointed Frances Tuimabualau as its agent in Fiji.  As Melanesia’s largest and most diverse marine services provider, with a 250+ workforce and 20-vessel fleet, PacTow is perfectly positioned to undertake additional projects in Fiji.  Frances Tuimabualau comes from a long line of seafaring professionals.  Her father, the la...

BSP Life PNG Limited has placed utmost importance on its people development and empowerment, since its inception in 2018. In a recent celebration of excellence and outstanding achievements, BSP Life honored its top-performing Insurance Advisors for 2023. Maryanne Loia, Sandra Kase, and Malele Silikara, representing the Boroko Sales Unit, stood among th...

Papua New Guinea DataCo and Oracle have signed a memorandum of understanding to advance the country’s critical digital infrastructure and to introduce world-class cloud infrastructure through the Oracle Alloy product. The MOU was signed on May 10th in Port Moresby as Information and Communication technology Minister Timothy Masiu welcomed Oracle Corpor...

New Zealand and Papua New Guinea have agreed to strengthen bilateral relations following a meeting between New Zealand’s Deputy Prime Minister and Foreign Affairs Minister, Hon. Winston Peters, and Papua New Guinea’s Prime Minister, Hon. James Marape, in Port Moresby on Monday, May 13, 2024. Prime Minister Marape recognised New Zealand as a steadfast d...

The President of the Papua New Guinea Chamber of Resources and Energy (PNG CORE), Anthony Smare, recently gave a comprehensive presentation on the "catastrophic impact" of the proposed National Gold Bill 2022 in an Information Session held on Thursday, 9th of May, 2024 at the University of Papua New Guinea (New Lecture Theatre).  Mr Smare emphasised ho...

The Minister for International Trade and Investment, Hon. Richard Maru expressed great satisfaction with the outcome of his bilateral meeting with the Minister for Foreign Trade of the United Arab Emirates (UAE), His Excellency Dr. Thani bin Ahmed Al Zeyoudi. The bilateral meeting was held on the margins of the Annual Investment Meeting (AIM) Congress, wh...

Ok Tedi Mining Limited (OTML) yesterday, presented a dummy cheque of K100,000.00 to the Mineral Resources Authority (MRA), to consolidate its position as a Major ‘Gold’ Sponsor of the MRA organized Geoscience, Exploration & Extraction (GEE) Conference 2024. The conference will be held on August 7-9, 2024, at the APEC Haus, Port Moresby. This is the...

Ok Tedi Mining Limited (OTML) recently renewed its Special Mining Lease (SML) 1 (0), gaining an additional 20-year lease term from 2022 to 2042. This is the second SML 1 (0) lease term extension for OTML. During the momentous event on 23th April, the Minister for Mining, Hon. Muguwa Dilu, encapsulated the rich history, significant achievements, and ...

Port Moresby Chamber of Commerce and Industry Inc. (POMCCI) recently hosted the Price Waterhouse Coopers (PwC) PNG 3rd Family Business Survey (FBS), presented by Michael Collins Entrepreneurial and Private Business (EPB). The survey shed light on the dynamics of family businesses, their challenges, and strategies for building trust and sustainability. ...

China is fast becoming Papua New Guinea’s most important trading partner, says the Minister for International Trade and Investment, Hon. Richard Maru. Minister Maru made this statement after his two-hour meeting with the Chinese Deputy Minister of Commerce, Mr. Tang Wenhong in Port Moresby recently. “We are determined to grow and deepen our relationshi...

In Part I, we read about the signs of oil and gas throughout Papua New Guinea that enticed many oilmen to look for large oil and gas fields over many decades, and we read about the first commercial oil discovery at the Iagifu 2-X well and how the Kutubu field was successfully developed.  We now pick up the story where subsequent exploration wells found ma...

This decline is expected to persist due to lingering effects of January's civil unrest, resulting in continued pressure on business revenues and employment levels in the non-mineral private sector in the first half of 2024. The Bank's forecast for PNG's domestic growth in 2023 is a modest real GDP growth of 1.4 percent, a significant drop from the 5.2 ...

Papua New Guinea (PNG) will maintain its position of last 10 years to not be part of PACER Plus, says the Minister for International Trade and Investment, Hon. Richard Maru. Minister Maru made this statement in his first meeting with the new Australian High Commissioner to PNG, His Excellency John Feakes. Minister Maru said: “I want to make it very cle...

Papua New Guinea's Carbon Market Regulation Initiative promises significant benefits for local communities, as it negotiates for a 50- to 60-percent range of benefits from developers. Guided by the Climate Change Development Authority (CCDA) under the Paris Agreement Act, these regulations aim to address climate change issues while ensuring economic st...