Search Results: 2022

President of the Autonomous Region of Bougainville, Hon. Ishmael Toroama, met yesterday with over 300 participants of the Panguna Mine Land Owners Clan Chiefs, at Tunuru Catholic Mission outside of Arawa Town, Central Bougainville. The purpose of this important meeting was for President Toroama to inform the landowners of the Government’s recent decisi...

K92 Mining Ltd. (“K92”), the operator of the Kainantu Gold Mine in Eastern Highlands Province, is pleased to announce that it has welcomed 11 graduate students as part of the 2024 class of the K92 Graduate Program. The K92 Graduate Program was established in 2022 to award students who have completed their degree qualifications with the opportunity to u...

Swire Shipping announced today that Westwood Shipping Lines (Westwood), a niche vessel operator specialising in the trade between the Pacific Northwest and Northeast Asia, will change its name to Swire Shipping effective 1 February 2024. Swire Shipping acquired Westwood in June 2022 as part of a growth strategy to expand its liner network in North America...

Mayur Resources Limited is pleased to advise that it has finalised the funding structure with its partners on the Orokolo Bay Mineral Sands project in Gulf Province of PNG having executed a series of legally binding contractual agreements with PT SEA First Nickel Industry (PTSFNI). The executed contractual agreements cover the full funding of the Orokolo ...

Prime Minister Hon. James Marape announced recently the historic appointment of Ms. Elizabeth Genia as the first woman Governor of the Bank of Papua New Guinea (BPNG). Ms. Genia, who has been serving as the Acting Governor of BPNG since January 2023, was officially appointed by the National Executive Council (NEC). “I am pleased to announce the histori...

K92 Mining Inc. is pleased to announce record quarterly production results for the fourth quarter (“ Q4 ”) of 2023 at its Kainantu Gold Mine in Papua New Guinea, of 39,101 oz AuEq or 33,309 oz gold, 2,728,623 lbs copper and 56,502 oz silver. Sales during the quarter were 31,931 oz gold, 2,995,585 lbs copper and 61,712 oz silver. Annual production achieved...

Policy reforms that strengthen legal frameworks will help Papua New Guinea (PNG) boost nontax revenues, says the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM).. “Subdued economic growth of 2% in 2023 is largely due to foreign exchange shortages, 20%–30% lower sales in various sectors, and a weakened contribution to g...

Prime Minister Hon. James Marape reaffirmed the substantial progress made by Papua New Guinea since his inaugural address at the Lowy Institute in Sydney, Australia, in July 2019. Addressing the Lowy Institute on Monday, December 11, 2023, Prime Minister Marape outlined significant achievements and acknowledged persisting challenges that require attent...

Prime Minister Hon. James Marape expressed his wholehearted endorsement for the groundbreaking K27.377 billion 2024 Budget, presented in Parliament by Treasurer Hon. Ian Ling-Stuckey. The budget, anchored in the theme ‘Securing Our Future,’ reflects a commitment to propelling Papua New Guinea into economic prosperity with pro-development focus as well as ...

25 November is the International Day for the Elimination of Violence Against Women (EVAW) and once again, Santos and the Santos Foundation have demonstrated ongoing commitment to end all forms of violence against women and girls by leading the annual Bel isi PNG organised EVAW walk in Port Moresby. In a show of solidarity were Bel isi PNG key donors, i...

The US Chamber of Commerce (USCC), the world’s largest business federation and biggest lobby group in the United States, will work at helping to find investors for Papua New Guinea, Prime Minister Hon. James Marape was told. USCC Executive Director – South East Asia, John Goyer said this when he met with Prime Minister Marape on the sidelines of APEC L...

Prime Minister Hon. James Marape has met with the United States International Development Finance Corporation (DFC), America’s development finance institution that funds private sector-based projects and businesses right across the world. The Prime Minister met with Scott Nathan, Chief Executive Officer of DFC, in San Francisco on the margins of the As...

The global financial landscape has seen a rapid transformation in the last decade, driven by a growing emphasis on environmental sustainability. In this new era, institutions, businesses, and individuals are increasingly recognising the rewards from integrating environmental, social, and governance (ESG) factors into their investment decisions. This co...

In addition to its core business of harbour towage, Pacific Towing (PacTow) provides salvage, emergency response, and spill response services in PNG and the broader region.  These services have increased in frequency together with the growth of PNG’s oil and gas sector, as well as the increase in Melanesia’s marine traffic.  PacTow has been involved in...

Shareholders of the Ok Tedi Mining Limited (OTML) have a reason to smile today as the Company paid an interim dividend of K100M on Thursday October 26th while also citing a positive outlook for a final dividend payment for December 2023. OTML Board Chairman Jeffrey Innes said, “We are proud to say that OTML is committed to deliver maximum returns to ou...

Prime Minister Hon. James Marape has urged participants of the three-day World Indigenous Business Forum (WIBF) in Port Moresby to "think globally and act locally" in as far as international commerce and trade is concerned. This message was conveyed recently as Prime Minister Marape inaugurated the three-day WIBF, hosted at the APEC Haus in Port Moresb...

Like other developing nations, Papua New Guinea has its fair share of problems including illiteracy and a dying need for human capital development especially for the youths who make up the majority of the country's population Life PNG Care is becoming a beacon of light for the silent majority of the population which are the children who will be the leader...

K92 Mining Inc. announces production results for the third quarter of 2023 at its Kainantu Gold Mine in Papua New Guinea, of 26,225 oz AuEq or 22,227 oz gold, 1,784,009 lbs copper and 40,233 oz silver. Sales during the quarter were 18,339 oz gold, 1,255,291 lbs copper and 30,484 oz silver. Production for the quarter was impacted from the safety inciden...