According to the Asian Development Bank, Papua New Guinea's economy will remain difficult in the short term until some resource projects begin (ADB). Edward Faber, a country economist with the Asian Development Bank in PNG, said the country was presently dealing with a variety of challenges, including the impact of the Coronavirus (Covid-19) epidemic, ...

Total E and P managing director Jean-Marc Noiray stated the Papua LNG project will begin in 2027. After three years of delays, he said the business was mobilizing its project team. “Our project of Papua LNG, after three years of delay, we are again, mobilising our project team, targeting front end engineering and design (Feed) entry through to 2022,...

Photo credit: According to the Bank of Papua New Guinea, total real GDP would rise by about 1.0 per cent in 2021, compared to a previous projection of 2.5 per cent in the bank's March monetary policy statement, Michael Sullivan, President of the Papua New Guinea-European Union Business Council, said. Sullivan made the remarks at the Lamana Hotel in ...

Photo credit: Department of Agriculture and Livestock According to Oil Palm Industry Corporation (Opic) acting general-secretary Kepson Pupita, the rehabilitation of smallholder oil palm blocks would result in more money being earned. Pupita was recently in Alotau, Milne Bay, to gift Opic workers with a motorcycle and tour abandoned dwellings on pro...

With approximately US$300,000 in funding, technical help, and mentorship support, the European Union (EU) is promoting rural entrepreneurship, investment, and trade programs. It aims to revive the agricultural sector by partnering with private sector innovators such as Agritech, Fintech, supply chain financing, mobile money providers, and other busines...

PM Marape Gives K1.5 Million For Coffee Development in Menyamya . Photo, PNG Government media Hon. James Marape, the Prime Minister of Papua New Guinea, has set aside K1.5 million for coffee development in rural Menyamya, Morobe, which produces some of the best coffee in the country. During his one-day visit to Menyamya Station last week, he reveale...

Photo credit: Porgera JV Barrick Gold CEO and President Mark Bristow will be in Papua New Guinea from 12th to 15th of October along with senior Barrick Gold executives, as a part of their quarterly review visits to Barrick operated mine sites throughout the world. Dr Bristow is expected to meet with Prime Minister James Marape and senior PNG Governm...

K92 Mining Inc. is pleased to announce that its Board of Directors has approved the Stage 2A Expansion, expanding the annual processing throughput to 500,000 tonnes per annum at its Kainantu Gold Mine in Papua New Guinea. This represents a +25% increase from the Stage 2 processing capacity of 400,000 tonnes per annum. Full commissioning of the Stage 2A Ex...

Minister for Forestry Walter Schnaubelt stated that discussions on renewable energy transitions and financial access alternatives for Small Island Developing States (SIDS) are critical for PNG. Schnaubelt was speaking at the World Expo 2020 in Dubai when the Energy Transition Accelerator funding platform was launched. He stated that Papua New Guinea...

In the financial year 2021, Newcrest Mining Limited made a statutory and underlying profit of US$1.2 billion. In the 2021 annual report, Managing Director and Chief Executive Officer Sandeep Biswas stated, "It has been more than 18 months since the onset of the COVID-19 epidemic, and we are still experiencing its catastrophic effects throughout the wor...

Photo credit: The National According to State Enterprises Minister William Duma, the Telikom-bmobile merger is on track, with a big announcement expected next month. Duma said he couldn't talk about the merger yet since there were other parties involved and business agreements to think about. Prime Minister James Marape stated last month that the tw...

Photo credit: BSP BSP Financial Group Limited (BSP) has confirmed that BSP shareholders can transfer all or part of their BSP shares to the ASX and trade them on the ASX Market. BSP Financial Limited Group CEO Robin Fleming noted that since the company's listing on the Australian Stock Exchange (ASX) in May, stockholders have been able to trade on t...

Water PNG Limited has signed a contract for K43 million for two water supply projects in Kundiawa and Bulolo townships, which would increase water availability for residents. Two water supply contracts were signed: one for K20 million with Water PNG Limited and Kaia Works Civil Engineering Contractors Limited for the Kundiawa water supply project, and ...

From L – R: Dr Flora Jethro, Oil Search Field Lead Medical Officer, Dr Julia Stinshoff, Senior Medical Officer, Sr Ruth Sala, Oil Search Registered Nurse, Api Kassman, Head of the COVID-19 Vaccination Ministerial Task Force and Leon Buskens, Oil Search Executive Vice President & Co-Head PNG witnessing Oil Search employee Nicholas Koromugo being vaccin...

The Board and Management of landowner owned companies operating in Southern Highlands, Hela and Gulf Provinces have been vaccinated against COVID-19, sending a strong and clear message of solidarity in the fight against a life-threatening disease. The landowner owned companies who provide essential camp management, catering, security, construction, and...

In a commentary of Stephen Howes, Director of the Development Policy Center and a Professor of Economics at the Crawford School of Public Policy, shared his opinion and discussed how the June ASEAN agricultural visa announcement could develop or evolve. He noted three possibilities. First point he made is the possibility that Asian countries will by al...

Freeport Resources Inc. was recently granted an extension to its Exploration License for Nong River at the heart of its Star Mountains mine, while it still awaits ministerial endorsement for its license for its newly acquired Yandera copper mine. “The company is pleased to announce that its application to extend Exploration License Number EL 1312 has b...

Heduru Moni Limited is successfully running its 22nd year of operation and is quickly earning the reputation as one of the most exciting financial services firms on the rise in Papua New Guinea. The company was incorporated and commenced trading in 1998 as a financial intermediary under the trading name Kina Plus and started operations by providing small ...

Volcanic eruption in Tavurvur volcano, Rabaul, New Britain Island, Papua New Guinea [Photo credit: Eric Lafforgue - www.ericlafforgue.com] "PNG through Mineral Resource Authority (MRA) has now embarked on undertaking geothermal exploration in the country with assistance from the World Bank and the Government of Iceland through training of its staff, ...

According to the Mineral Resources Authority, discussions on a mining development contract for the projected K18.4 billion Wafi-Golpu mining project in Morobe will begin this week (MRA). Both the State and the mine's joint venture partners had conducted conversations, according to managing director Jerry Garry, and an assessment of those interactions w...

Lole Mining Ltd, a local business with foreign partners, will receive the mining license for the Tolukuma gold mine in Papua New Guinea. According to the Mineral Resources Authority, this will be done after transactions to offset mining obligations are completed (MRA). The mining advisory council has previously approved an application for the deal's...

The National Airport Corporation Civil Aviation Development Program One upgrade and maintenance is anticipated to be finished in November. According to Rex Kiponge, the NAC's acting managing director. He said that on November 24, all projects under CADIP One (Tranches One, Two, and Three) will come to an end, with the goal of redeveloping and revita...

The PNG Economic Database was inaugurated in Port Moresby by Minister for Treasury Ian Ling-Stuckey. The PNG Economic Database, which dates back to 2012, was created in collaboration between the Crawford School of Australia National University and the UPNG School of Business and Public Policy. PNG Economic Database, according to Ling-Stuckey, is a f...

A new revised and market friendly transaction levy will be charged on all transactions on the PNG National Stock Exchange (PNGX). Robert Minak, executive chairman of Papua New Guinea's Securities Commission (SCPNG), made the announcement. “We have reviewed the existing levy rate of O.75 per cent and we believe that the quantum of that levy is too hi...