Search Results: 2022

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...

According to Twinza chairman Stephen Quantrill, the Pasca A oil and gas project in the Gulf is estimated to bring in about K8.6 billion in direct revenue to the government throughout the project's lifetime. A total of K500 million in tax and royalties is projected to be paid in a year, according to Quantrill, who spoke at the 2021 Mining and Petroleum ...

These recently graduated ‘Officers of the Watch’ represent 10 of the 26 young PNG women having their careers fast tracked by Pacific Towing and the Women in Maritime program. Ten young PNG women graduated as ‘Officers of the Watch’ last week.  The women, who were all cadets at Pacific Towing (PacTow), represented the first intake of scholarship awardee...

Over the next few years, OK Tedi Mining Limited expects to witness a gradual growth in dividends of up to K1 billion each year. Musje Werror, managing director and chief executive officer, spoke at the PNG Mining and Petroleum Conference and Exhibition in 2021. Mr Werror stated that OTML's 2021 Strategic Business Plan affirmed a US$475 million incre...

Papua New Guinea, according to James Marape, has never been an "uncertain area to invest." In Port Moresby, he said this while speaking digitally at the 2021 PNG Mining and Petroleum Conference & Exhibition in Brisbane. “We are an oil, gas and mining nation,” the Prime Minister said. “This is evident in the fact that quite a substantial part ...

According to James Marape, the 2022 Budget puts a greater emphasis on the health sector than ever before. He mentioned this during the opening of the K500 million, 300-bed Central Provincial Hospital for Central and Papua New Guineans in Bautama, Central. Roads, housing, power, and other infrastructure in the new Central City at Bautama, which is ad...

Photo credit: PM James Marape News Page - National Planning and Monitoring Minister Hon. Rainbo Paita in traditional dress during Budget debate. The K22 billion 2022 Budget, which was passed without opposition by Parliament recently, has been dubbed a "milestone budget" by James Marape. “This is a milestone budget because it is the first budget-prop...

Photo credit: PM James Marape News Page - Treasurer Ling-Stuckey tabling the 2022 Budget Prime Minister Hon. James Marape has welcomed the tabling of the record K22.175 billion 2022 Budget by Treasurer Ian Ling-Stuckey in Parliament. He said it would help Papua New Guinea on the path to economic recovery as well as support successful delivery of the...

Photo credit: PM Marape News Page - Works Minister Hon. Michael Nali introducing the Bill in Parliament. PRIME Minister Hon. James Marape has today welcomed the passage of the Connect PNG (Funding and Implementation Arrangements) Bill 2021. The Bill, passed with a vote of 78-5 by a largely unanimous House, will see to the actioning of the Marape Gov...

Photo credit: PNGX The chairman of the PNG Stock Exchange (PNGX), David Lawrence, stated that total transaction figures on the PNGX decreased last year. The 12 listed firms had a combined market capitalization of K91.89 billion. PNG Air Ltd, he added, was still suspended for failing to present audited financial statements. Niuminco, a mining e...

Twinza Oil Limited’s Pasca A Gas Agreement is yet to be finalized as per their media release last August. Honorable Keregna Kua, Minister for Petroleum, announced in Parliament a seven-day period for the State Negotiating Team (SNT) and Twinza Oil Limited to meet to finalise drafting of the Pasca A Gas Agreement. Unfortunately, the deadline expired on the...

Photo credit: Geopacific Resources The developer stated that work on the Woodlark Gold Project is now delayed and behind schedule. In an update, Geopacific Resources Limited reported that the company has decided to postpone the project until Q1/Q2 2022. The impact of unseasonal inclement weather, according to the firm, has resulted in a short-ter...