Search Results: 2022

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...

The Marape Government has ambitious plans to escalate palm oil production through enhanced collaboration and equity participation of all stakeholders in the palm oil industry, according to Oil Palm Industry Corporation (OPIC) General Secretary, Kepson Pupita. He made this announcement during his address at the Council of Palm Oil Producing Countries (CPOP...

An agreement was reached recently between the Ministry and the Department of International Trade and Investment, and the Shenzhen Government and private sector for the new Papua New Guinea (PNG) trade mission to be in a very prestigious office building in Shenzhen. “To have a trade mission in China is a very historic decision made by our Government and...

Papua New Guinean marine services company Pacific Towing (PacTow) is assisting Australia’s Pacific Marine Group (PMG) with the upgrade of two major PNG ports.  PacTow’s commercial dive team completed work at the Alotau provincial wharf in Milne Bay Province in May and is part way through similar work  in Manus Province.  The two port upgrades are part of ...

K92 Mining Inc. is pleased to announce production results for the second quarter (“ Q2 ”) of 2023 at its Kainantu Gold Mine in Papua New Guinea, of 30,794 oz AuEq or 27,405 oz gold, 1,526,547 lbs copper and 34,001 oz silver, representing an increase of 18% from Q2 2022 and 43% from Q1 2023, respectively. Sales during the quarter were 28,141 oz gold, 1,657...

Prime Minister Hon. James Marape expressed his support for the newly formed Independent Commission Against Corruption (ICAC) today, heralding it as a significant milestone in the fight against corruption. The commission gained momentum with the recent arrival of three highly qualified and experienced ICAC Commissioners. Recognising the devastating impa...

Prime Minister Hon. James Marape has issued a directive recently, (Sunday, July 9, 2023) mandating all Government departments and agencies to align themselves with the Medium-Term Development Plan (MTDP) IV (2023-2027), which was launched on Friday, July 7, 2023. Under the directive, Prime Minister Marape stressed the importance of immediate action and...

Prime Minister Hon. James Marape recently announced the inaugural Papua New Guinea-Asia Investment Conference, scheduled to take place in Hong Kong on October 16-17, 2023. The conference will be hosted by the PNG Chamber of Mines and Petroleum (PNGCMP) and will serve as a platform for government and business representatives from China and other parts of A...

Transparency International PNG (TIPNG) held its Annual General Meeting last Friday (30 June 2023) at the Holiday Inn, Port Moresby to present its annual report for the year 2022 to its members. The 2022 Financial Statements for TIPNG were presented to the members at the AGM. Once again, the organization returned an unqualified audit which was conducted...