Search Results: 2022

The Bank of Papua New Guinea presented to the Port Moresby Chamber of Commerce and Industry the September 2023 Monetary Policy Statement at the Hilton Hotel on the 4th of October 2023. Ms. Elizabeth Genia, Acting Governor of the Bank of PNG, said: "I would like to thank the POMCCI for inviting the Bank of Papua New Guinea to present the September Monet...

As part of our commitment to education and the future of a skilled workforce in Papua New Guinea. Ok Tedi Mining Limited (OTML) is proudly supporting the University of Papua New Guinea's Earth Sciences Division in hosting the 2023 UPNG Geosciences Open Day with K5000. Scheduled for October 6th, 2023, at UPNG's Waigani Campus in Port Moresby, the 2023 U...

K92 Mining Inc. is pleased to announce that it has entered into a loan agreement with Trafigura Pte Ltd, a market leader in the global commodities industry, pursuant to which Trafigura will provide a US$100 million senior secured loan to K92. In addition, the Papua New Guinea subsidiary of the Company, K92 Mining Limited, and Trafigura have amended and...

Prime Minister Hon. James Marape recently extended a warm and formal welcome to the new British High Commissioner to Papua New Guinea, Her Excellency Ms. Angela Macro. The meeting took place in Port Moresby. High Commissioner Macro assumes her role succeeding outgoing High Commissioner Keith Scott, who will be embarking on another diplomatic assignment...

The Ambassador of the United Arab Emirates (UAE), His Excellency Jamal Abdulla Al Suwaidi, embarked on a significant diplomatic mission recently, paying a courtesy call on Prime Minister Hon. James Marape. This meeting followed the presentation of his credentials to Governor-General Sir Bob Dadae at Government House, Konedobu, marking a pivotal moment in ...

Swire Shipping, a leading provider of sustainable and innovative shipping and logistics solutions, has published its Sustainability Report, which details its goals and achievements in the areas of sustainability and decarbonisation for the calendar year 2022. The Company’s sustainability strategy provides the framework and structure to ensure that it meet...

One of the world’s biggest and most profitable agriculture company Wilmar International Limited is keen to partner the Government of Papua New Guinea to invest in more large-scale agriculture investments in the country. Wilmar International Limited was founded in 1991 and is Asia’s leading agribusiness group today with over 500 manufacturing plants and...

Kumul Petroleum Holdings has announced that it has finalised agreement with Santos to purchase a 2.6% equity interest in the PNG LNG Project for US$576 million, plus US$160 million share of project debt. Kumul Petroleum’s managing director, Mr Wapu Sonk said, “This transaction is the culmination of many months of discussions that have taken place with ...

The Department of Personnel Management through the Office of the Secretary officially approved the proposed organizational structure for the Department of International Trade and Investment (DITI) on Thursday, August 24, 2023. Acting Secretary for DITI, Mrs. Jacinta Warakai Manua said with this approval, the department that was established under NEC Decis...

Article by: Aaron Ross & Nick Easingwood Global Head of Project and Export Finance & Head of New Energy, ANZ Hydrogen is getting hotter. The shift to net-zero carbon is driving rising interest in a range of innovative energy industries, and the hydrogen sector is at the forefront of activity. The Australian economy is uniquely placed to play...

Ok Tedi Mining Limited (OTML) has signed two project agreements to commence Phase Two of the upgrading and sealing of the Kiunga-Tabubil Highway and the rehabilitation and sealing of the Daru Town Roads. The agreement was signed on the 06th of July 2023 in Port Moresby between OTML and China Railway Construction Engineering Group Co. Limited for Phase ...

During questions without notice on the 9th of August, 2023 Rufina Peter, the Governor for Central Province, in a two-part question asked the Minister for Petroleum and Energy, Kerenga Kua, if a firm determination of gas reserve volume from the Elk/Antelope fields had been fixed and confirmed for future revenue, planning, and budgetary purposes. “Papua ...

Prime Minister Hon. James Marape warmly embraces the establishment of a United States Agency for International Development (USAID) Country Representative Office within Papua New Guinea. He also welcomed the backing of a substantial US$7.4 million (K25.4 million) from USAID. Prime Minister Marape asked USAID to ensure that this assistance aligns to the ...

‘FX market turnover in the June quarter rose 28% from the March quarter 2023 to PGK13.9 billion, due to a 58% increase in BPNG FX intervention,’ according to BSP’s June Quarter 2023, Pacific Economic & Market Insights report. “Excluding BPNG intervention, market turnover rose 12% in the June Quarter, but remains flat (unchanged) in 1H-2023 when com...

At Parliament House recently, Kumul Petroleum Holdings presented the Government with a dividend cheque for K250 million Handing over the interim dividend payment to Treasurer, Ian Ling-Stuckey, and SOE Minister William Duma, Wapu Sonk, Managing Director of Kumul Petroleum Holdings said, “KPHL is fulfilling the commitment it made in its 2023 Annual Oper...

The Asian Development Bank (ADB) has appointed Said Zaidansyah as the Country Director for Papua New Guinea (PNG). Mr. Zaidansyah, who assumes office today, will oversee ADB’s country partnership strategy for PNG and wider engagement in the country. “Working with the Government of Papua New Guinea, we are committed to, among other things, helping rehab...

Prime Minister Hon. James Marape recently gave a gleaming report on Minerals Resources Development Company (MRDC) while describing it “very much the success story (Great) Grand Chief Sir Michael Somare wanted it to be”. PM Marape was tabling the financial accounts of the company in Parliament when he revealed that the company, founded by the late found...

K92 Mining Inc. is pleased to announce that the Board of Directors has authorized the Company’s award of the engineering, procurement, construction and commissioning (“ EPC ”) Lump Sum Contract for the 1.2 million-tonnes-per-annum (“ mtpa ”) Stage 3 Expansion Process Plant to GR Engineering Services Limited (“ GRES ”) following a tender process. The EP...