Search Results: 2022

Discussions have been concluded between the Minister for International Trade and Investment, Hon. Richard Maru, and the Chairman of New Britain Palm Oil Limited (NBPOL), Datuk Mohamad Helmy Othman Basha, for the State to take equity in Ramu Agri Industries Ltd (RAI) early next year. Minister Maru, who is also responsible for State Equity, said that the...

ShieldCrete® International has established a significant presence in Papua New Guinea through a strategic joint venture between Malaysia-based ShieldCrete® International and local partner Workforce South Pacific, creating ShieldCrete® South Pacific (SCSP). This advanced coatings company operates major facilities in Port Moresby and brings over 30 years of...

The Mineral Resources Development Company (MRDC) has completed the distribution of royalty and equity payments worth K74,147,996 (approximately USD 20.8 million) to landowners from the PNG LNG Plant Site in Central Province, Papua New Guinea, marking a significant step in delivering long-awaited project benefits. The payments were confirmed by MRDC on ...

Papua New Guinea’s efforts to strengthen transparency in public asset management took a significant leap forward on 5 November 2025 with the launch of KumulSoft’s Fixed Asset Management Platform. “Between 2015 and 2019, over 48 percent of our public institutions had unresolved fixed-asset management issues amounting to more than K3.7 billion. In 2018 a...

The final quarter of 2025 looks broadly positive, says BSP Group General Manager for Corporate Bank, Daniel Faunt, as he highlighted key insights from the September Quarter Economic Market Update. BSP Financial Group Limited (BSP) reported that business activity remained steady through the third quarter of 2025, supported by strong economic fundamental...

The Mineral Resources Development Company (MRDC) has announced four landmark projects set to transform the economic landscape of Papua New Guinea’s gas-rich Hela Province. Formalised through key agreements signed in Tari on 17 October, the projects mark a new phase of investment aimed at accelerating development and improving local livelihoods. The ...

The Mineral Resources Development Company (MRDC) has confirmed that the Bank of Papua New Guinea (BPNG) has released accrued royalty payments for landowners in the PNG LNG Project area into their respective trusts managed by MRDC. The announcement was made on 22 October 2025, with MRDC stating that the release of funds marks a major milestone in ensuri...

Papua New Guinea continues to grapple with energy gaps, but hydro power is increasingly being recognised as a key solution to meet the country’s growing electricity demand. Managing Director of PNG Hydro Development Ltd Allan Guo says hydro energy is the way forward and holds the key to unlocking PNG’s green industrial future. He called for more unifie...

Geopacific Resources Ltd. (ASX: GPR) has reported encouraging new drilling results from its 100 percent-owned Woodlark Gold Project in Papua New Guinea, including a potential new discovery adjacent to one of the site’s key deposits. The company is midway through a 30,000-metre drilling campaign designed to expand known gold resources and test multiple ...

As cyber threats continue to evolve in complexity and frequency, the imperative for robust information security across both government and private sectors in Papua New Guinea has never been more urgent. In a recent interview with PNG Business News, Robert de Haan, founder and chief executive officer of Cypro Pty Ltd, outlined the growing need for proac...

TOARE, Gulf Province — The Toare Mask Festival has been successfully revived through a collaboration between TotalEnergies, the National Cultural Commission (NCC), and the Gulf Provincial Government. The two-day cultural event, held on 12-13 July, marked the 20th anniversary of the festival and the official opening of the Toare Cultural Centre. First e...

PORT MORESBY — Westpac PNG is pleased to announce the appointment of Tamzin Wardley as chairwoman of the Board, alongside the appointment of Presley Semi and Michelle Hau’ofa as non-executive directors, effective immediately. These appointments come at a strategic moment for the bank, as Westpac PNG recently welcomed its new chief executive, Andrew Cai...

The Autonomous Bougainville Government (ABG) has reaffirmed its commitment to strengthening partnerships with development partners and the National Government, calling for a more coordinated and transparent approach to delivering development programs for Bougainville’s long-term growth. Speaking during the 2025 Bougainville Development Cooperation Conf...

K92 Mining Inc. has announced the retirement of Philip Samar from his role as vice president, government and community affairs. Samar will continue to support the company as a senior advisor in a consulting capacity. Samar joined K92 in January 2019 as vice president, external and corporate affairs, later retitled vice president, government and communi...

Canadian firm K92 Mining Inc. has reported a solid second-quarter performance for 2025, producing 34,816 ounces of gold equivalent (AuEq) and initiating commissioning of its new 1.2 million tonnes-per-annum (Mtpa) Stage 3 Process Plant at the Kainantu Gold Mine in Papua New Guinea. The Q2 output represents a 43% jump compared to the same period in 2024...

In a crucial step towards improving transparency and governance in the extractive industries, the Papua New Guinea Extractive Industries Transparency Initiative (PNGEITI) convened a two-day Pre-Validation Workshop from 9–10 June in Port Moresby. The workshop brought together members of the Multi-Stakeholder Group (MSG) and staff from the PNGEITI National ...

The Westpac Wailis Papua New Guinea Economic Update and Outlook for May 2025 published on 2 June shows a commodity boom, resource sector investments, and policy reforms are driving optimism amid global trade tensions. Titled “Optimistic 2025: PNG mostly resolves forex issues, sees favourable commodity prices,” the report shows the outlook for this year...

On Friday May 23rd 2025, NTC approved Steamship’s Three-Year Training and Employment Plan (3YTEP) with a Certificate of Compliance and Approval Letter which covers years 2025-2028. This is the first time NTC has worked with Steamships to approve its 3YTEP. Steamships is a dedicated and long-serving company in PNG and is deeply focused on a training and lo...