Papua New Guinea Prime Minister James Marape announced the launch of a “transformative” $1.2 billion (4.8 billion kina) agro-forestry project aimed at boosting the economy and infrastructure of the remote midlands of Western Province. During a press conference, PM Marape outlined key features of the project, which promises to enhance connectivity and g...

Preparations are underway for the 2024 PNG Investment Week hosted by the PNG Chamber of Resources & Energy (PNG CORE) from the 6th – 11th December at the International Convention Centre, in Sydney, Australia. Chief Operating Officer for PNG CORE Mrs. Pansy Taueni-Sialis, said with a month to go, PNG CORE is seeing an uptake in registrations from de...

ExxonMobil Senior Vice President of Global LNG, Mr. Peter Clarke, recently shared his insights on the success of Papua New Guinea’s liquefied natural gas industry and the bright opportunities ahead as a keynote speaker at Kumul Petroleum Holding Limited’s Petroleum and Energy Conference held in Port Moresby. “Papua New Guinea is truly well-positioned f...

Kainantu Gold Mine in Papua New Guinea has reported outstanding production results for the third quarter of 2024, achieving a record output of 44,304 ounces of gold equivalent (AuEq), which includes 41,702 ounces of gold, 1,278,492 pounds of copper, and 37,613 ounces of silver, according to K92 Mining Inc. John Lewins, K92 Chief Executive Officer and D...

A Special Procurement Committee for the Mineral Resources Authority (MRA), under the National Procurement Commission (NPC), was officially sworn in on Friday, 25 October, at the NPC office in Port Moresby. The formation of this committee is a requirement under the NPC Act 2021, which mandates that government statutory bodies and agencies with the capac...

On the sidelines of the 2024 Petroleum & Energy Conference today, Kumul Petroleum Holdings Limited Managing director, Wapu Sonk signed a Pre-Front-End Engineering & Development (FEED) contract for a Floating LNG (FLNG) facility in the Gulf of Papua, in PNG. Mr Sonk announced that this important contract had been awarded to Shanghai Wison Offsho...

Prime Minister Hon. James Marape met with Indonesia’s newly inaugurated President, H.E. Prabowo Subianto, in Jakarta shortly after the President's official swearing-in. The bilateral meeting, held at the Presidential Palace, focused on the future of relations between Indonesia and Papua New Guinea. “President Subianto and I had a very productive bilate...

Prime Minister Hon. James Marape has urged Papua New Guinean-owned businesses to maintain a strong presence and foster ongoing commercial relationships between Papua New Guinea and Samoa. Prime Minister Marape highlighted that both countries share similar values and aspirations for development, and PNG-owned businesses operating in Samoa have significa...

Prime Minister, Hon. James Marape, signed a framework agreement with the Prime Minister of Vanuatu, Hon. Charlot Salwai Tabimasmas, establishing a commitment between Papua New Guinea and Vanuatu to pursue, develop, and implement economic and technical cooperation activities for the benefit of both countries’ citizens. The signing took place at the Taum...

Ok Tedi Mining Limited (OTML) has donated K550,000 to the University of Papua New Guinea’s (UPNG) Earth Sciences Division & Centre for Disaster Risk Reduction, upgrading the division’s Computer Laboratory for students and teaching staff. The funds cover the purchase and installation of 28 desktops, seven laptops, and one uninterruptible power suppl...

As part of the on-going efforts to enhance national content within the resources sector in Papua New Guinea, the PNG Chamber of Resources & Energy (PNG CORE) is pleased to announce the establishment of its National Content Committee. This Committee, endorsed by the PNG CORE Council in its September meeting, will now lead the industry’s efforts to a...

Innovative technology has shifted business operations from traditional to modern methods. In an interview with PNG Business News, Remington Group CEO Navin Raju shared his vision and stressed the necessity of adapting to these changes. The Remington Group Board of Directors recently appointed Raju as the new CEO, recognizing his extensive experience in...

The government has reiterated its ambition to achieve carbon neutrality by 2050, with an interim target of a 50-percent reduction by 2030, at the recent Petroleum and Energy Conference 2024. Recent reports indicate progress, particularly in the agriculture, forestry, and other land use sectors, which have successfully met initial CO2 reduction targets....

This year's Petroleum and Energy Conference (PEC) attracted an impressive 580 delegates from around the world to Papua New Guinea (PNG), which is the highest attendance to date. The Managing Director for Kumul Petroleum Holdings Limited, Mr. Wapu Sonk, expressed optimism for future events, stating: "I look forward to a better and bigger event next year...

The Papua New Guinea (PNG) Minister for International Trade and Investment, Hon. Richard Maru, said PNG is still facing a pressing energy crisis, nearly half a century after gaining independence. Minister Maru underscored the urgency of the country’s energy challenges, stating: “We cannot pretend, we can't keep talking about providing for other countri...

Prime Minister James Marape invited international investors and energy experts to collaborate with Papua New Guinea (PNG) in harnessing its diverse energy resources, including hydro, geothermal, and solar power, during his keynote address at the opening of the 2024 Petroleum and Energy Conference at the Hilton Hotel in Port Moresby. "We offer strong in...

The Papua New Guinea National Energy Authority (PNG NEA) has officially launched its Board Charter and Appeals Panel Guidelines, signifying the establishment of its governance framework. This initiative aims to enhance transparency and accountability within the NEA, ultimately improving the efficiency and fairness of the country's energy sector. The...

The Minister for International Trade and Investment, Hon. Richard Maru in his meeting recently with the new Chinese Ambassador to Papua New Guinea (PNG), His Excellency Yang Xiaoguang made a commitment to deliver the PNG-China Free Trade Agreement (FTA) feasibility study report by the end of this month. Minister Maru said: “This report will determine t...

Mayur Resources Limited is pleased to announce the signing of a 10-year exclusive Strategic Alliance Agreement (Strategic Alliance) with Guangxi Zhongzi New Materials Co. Limited, a privately owned large-scale Quicklime and Limestone producer operating primarily in China. This agreement provides Mayur with immediate access to superior quality lime product...

Prime Minister Hon. James Marape has acknowledged the special bond Papua New Guinea has with Japan, as he congratulated Japan International Cooperation Agency (JICA) on 50 years of delivering Japan’s development assistance to PNG. JICA, the Japanese government agency that delivers the bulk of the Official Development Assistance (ODA) to developing coun...

Prime Minister Hon. James Marape has described New Zealand as “steady and reliable” in its partnership with Papua New Guinea during his meeting with New Zealand High Commissioner, H.E Peter Zwart recently. The bilateral meeting saw the two leaders discuss common issues of mutual interest between the two countries, New Zealand’s involvement in community...

Prime Minister Hon. James Marape has emphasised that the new casino operations in Port Moresby will be strictly regulated to benefit Papua New Guinea’s economy while safeguarding the welfare of its citizens. Addressing concerns over the recently launched Paga Hill Special Economic Zone (SEZ) Satellite Casino, Prime Minister Marape clarified that this c...

Port Moresby is set to become the heart of Papua New Guinea’s next wave of development and modernisation, with an eye on the booming Asian market, as declared by Prime Minister Hon. James Marape on Friday, October 11, 2024. Speaking at the groundbreaking ceremony for the Paga Hill Special Economic Zone (SEZ) Satellite Casino, Prime Minister Marape emphasi...

A joint understanding has been reached between the Governments of Bougainville and Papua New Guinea to broaden the role of the recently appointed independent moderator, Sir Jerry Mateparae. In a ministerial statement delivered in the Bougainville House of Representatives last week, ABG Attorney General and Minister for Bougainville Independence Mission...