Photo: Prime Ministers Albanese and Marape in Suva.

Prime Minister Hon. James Marape met Australian Prime Minister Anthony Albanese on Thursday (July 14 2022) at the Grand Pacific Hotel in Suva, prior to the convening of the 51st PIF Leaders Retreat at the PIF Secretariat Headquarters.

Being the first meeting since PM Albanese was elected, their initial exchanges were practical and reassuring.

PM Marape, at the outset, acknowledged the strong and excellent bilateral relations between PNG and Australia and took the occasion to congratulate PM Albanese on his recent election as Prime Minister of Australia.

Relations between the two countries have matured and strengthened since PNG’s Independence in 1975.

Most recently, the Australian Government provided much-needed budgetary support to PNG at the height of COVID-19.

“Australia stepped in at a very critical period by providing this budgetary support that enabled us to reconfigure and tidy our public accounts,” PM Marape said.

“Prior to this, I concluded the Comprehensive Strategic Economic Partnership (CSEP) with the immediate past Australian Prime Minister at the Inaugural Virtual Annual PNG Australia Leaders Dialogue.

“This new economic development partnership expands across various sectors including transport, infrastructure, health, education and cultural exchanges and has been factored into a Plan of Action to implement the CSEP which we also endorsed.

“My Government worked closely with former Australian Prime Minister, Scott Morrison, in elevating Australia-PNG economic relationship through the CSEP.

” I look forward to progressing the agenda of  increasing  economic and trade relationships between our two countries.

“During our discussions, I thanked Prime Minister Albanese for Australia’s continued economic infrastructure support for ports, bridges, roads and airstrips through the Australian Infrastructure Financing Facility for the Pacific (AIFFP).

“In ensuring the region benefitted from the AIFFP, I requested for Prime Minister Albanese to be accommodative, flexible and favourably consider requests from other Pacific Island countries to access the AIFFP to improve their economic infrastructures and other development needs.

“These arrangements signal an economic partnership with Australia on equal terms that are not subservient to Australia.

“In response, Prime Minister Albanese acknowledged our historical ties, reaffirmed that this was a partnership of equals, and that his Labor Government was prepared to listen and assist PNG in its development requirements where necessary.”

Other issues between the two leaders included the socio-economic development agenda for the 51st PIF and more particularly the Micronesian issue that threatened regional stability.

“We both agreed that all members of the Pacific Islands Forum were equal and should be respected, despite their lower populations and sparsity,” PM Marape said.

“I also discussed issues relating to Santos’ decision to offload equity to Kumul Petroleum and will shortly be dispatching a letter to Prime Minister Albanese for his consideration and advice.

“We also spoke about PNG’s bid to join the NRL in 2025 and I sought Prime Minister Albanese’s intervention on the same, which he agreed to.

“To conclude our meeting, I re-extended my invitation for Prime Minister Albanese to visit PNG in September to coincide with the Annual PNG/Australia Ministerial Forum in Wewak as a mark of respect to the Late Grand Chief Somare who had longstanding ties with the Australian Government.”

Article courtesy of PM JAMES MARAPE News Page

Prime Minister Hon. James Marape had a bilateral meeting with the Prime Minister of the Republic of Fiji. Hon. Voreqe Josaia Bainimarama on the margins of the 51st Pacific Islands Forum in Suva, Fiji.

PM Bainimarama thanked PM Minister Marape for making time to attend the PIF saying it showed his commitment and cause to the wider regional family.

PM Bainimarama also congratulated PM Marape on his re-election as the Member for Tari-Pori in this year’s PNG National General Elections.

PM Bainimarama congratulated PM Marape for successfully handing over the Melanesian Spearhead Group (MSG) Chair to Vanuatu. He reiterated what he mentioned in the Special MSG Leaders’ Summit that sub-regional arrangements like the MSG Free Trade Agreement could assist in strengthening economic recovery efforts.

PM Marape conveyed his appreciation to PM Bainimarama for hosting him and his delegation for this 51st PIF.

He reassured PM Bainimarama of his full support in the face of several challenges to the region, including climate change.

PM Marape maintained that the bilateral relations between PNG and Fiji extended from a long and rich history and commented that there was a noted growing amount of PNG investments in Fiji and looked forward to seeing this part of the bilateral relationship grow.

In reference to the Suva Agreement, PM Marape raised his concern at the withdrawal of Kiribati from the PIF and enquired as to the number of members that have signed on to the agreement.

PM Bainimarama informed that most Forum Leaders had signed onto the Suva Agreement except for PNG, Kiribati and Nauru. Nauru had requested to sign the document last, given the spread of COVID-19 pandemic on the island and the lock- in place.

He said the Suva Agreement would address the political impasse currently between the Forum Leaders and the Micronesian member states.

In this regard, PM Marape re-affirmed to regional solidarity, assured PM Bainimarama of PNG’s support and signed the Suva Agreement in the meeting.

Photo credit:

A Pacific Trade Invest survey for Pacific Island exporters has revealed that despite over half of all responding businesses reporting a decline in export orders over the past 12 months, respondents are confident the future holds promise with two out of three businesses expecting an increase in export orders over the next 12 months.

The Pacific Islands Export Survey 2022 comes at a critical time, providing a unique lens to understand the acute and far-reaching impact the COVID-19 pandemic has had on the region over the last two years.

Dr Tess Newton Cain, Pacific Analyst and Project Lead at Griffith Asia Institute’s Pacific Hub, said the survey provides a wealth of information and insights into the economic temperature of our region.

“The PTI Pacific Islands Export Survey comes at a pivotal moment as many countries of the Pacific shift from keeping COVID-19 out, to managing the impacts of living with it in their midst.

“It adds to a valuable longitudinal dataset that can inform nuanced and sophisticated analysis and policy formulation.”

The report finds that the cost of export and challenging export logistics have increasingly become barriers to Pacific exporters selling their products or services to overseas customers, with 52 per cent stating that cost of export was their main barrier and 48 per cent stating the same for export logistics.

This increased from 46 percent and 38 percent in 2020, respectively.

Mr Newton Cain says that while these challenges are expected to ease in the future, they will still be of immense significance in the short term, with exporters increasingly calling for support in the form of financial grants as they navigate this turbulent period.

“When it comes to barriers to exporting, it is not surprising to see that the major challenges are around transport costs and logistical challenges.

“While we can expect these pressures to ease over the medium term, they will continue to be of major significance in the next little while until international freight systems begin to normalise.”

PTI Australia’s Trade and Investment Commissioner, Caleb Jarvis, said that despite the many challenges, the survey also revealed the strong optimism Pacific Exporters hold for the future.

“Promisingly, we can see that business confidence among Pacific Exporters has increased over the last two years despite the many challenging environmental and economic conditions at play.

“Despite over half of all businesses reporting a decline in export orders over the past 12 months, Pacific exporters are confident that export decline has peaked.

“The future holds much promise, with 66 per cent of mature exporters and 69 per cent of new exporters anticipating an increase in revenue and export orders over the next year,” Mr Jarvis said.

Article courtesy of the Post Courier

PAPUA New Guinea’s economy has weathered the Coronavirus (Covid-19) pandemic well despite many challenges, according to Treasurer Ian Ling-Stuckey.

Ling-Stuckey said according to the International Monetary Fund (IMF), “PNG economy is expected to grow from K79.4 billion in 2018 to K109.3 billion in 2022”.

“The increase over the last two years of K23.9 billion is the largest in PNG’s history,” he said.

“The report from the IMF is more positive about the PNG economy than even the 2022 budget documents.

“This is part of the benefits of honest and transparent engagement with the international community.”

Ling-Stuckey said there was also a major upside to the predictions on the growth of the economy.

“In line with international best practice, the growth forecasts do not include new resource projects until the final investment decision is made,” he said.

“This means that the forecasts do not include the additional growth benefits from the Papua LNG, P’nyang, and Wafi-Golpu projects despite the likelihood of these projects going ahead, especially in light of higher oil and mineral prices. 

“The IMF also sees the real rate of growth in the non-resource sector exceeding 4 per cent over the next five years.

“This is higher than the official population growth rate of 3.1 per cent.

“Most of our people earn their livelihoods from agriculture, fishing, selling goods, construction and transport.

“As these vital parts of the economy are expected to grow faster than population growth, this means improving the living standards for our people.”

Article courtesy of the National

Photo credit: Fabien Forget, ISSF

Papua New Guinea has told the United States – the biggest importer of fresh Pacific tuna – that it wants to get away from the export of raw tuna and now move into downstream processing.

Prime Minister James Marape said he made this known to US vice -president Kamala Harris at the 51st Pacific Islands Forum (PIF) summit in Fiji, which was held from July 11-15 to discuss wide-ranging issues covering regional stability, development and climate change.

In line with the PIF communiqué points 50, 51 and 52 calling for PIF members to increase economic returns from fisheries, Marape highlighted the need to optimise the value of fisheries by working with the PIF family of nations, where the Pacific Ocean produced over 60 per cent of the world’s yellow fin tuna.

“At the PIF, US vice-president Kamala Harris addressed the forum, I respectfully told her and the world that PNG and Pacific will no longer be exporting raw marine catches only; we want to move into downstream processing of all our catches and resources in our (respective) countries,” he said.

No more raw resource export in primary stage but processed finish products.”

Marape added that PNG would all operators in its resource sector to change their licenses to not just harvest and exporting raw product but to make the finished product for export as well.

“Any new investors wanting to come in to work in all our resource sectors, including fisheries, must include downstream processing and manufacturing in your applications,” he said.

“Gone will be the days when we were just primary exporters.

“We want to add value to our economy by manufacturing our products in-country and in the Pacific and supplying our local and regional markets as well as the bigger overseas markets.”

Marape said that even if he did not return as prime minister, his fellow parliamentarians would be committed to the same cause of ensuring PNG’s fisheries resource was developed in-country. PNG must get back more from our resources.

“There are many ways to do it, one of which is to value add to our economy by shifting to downstream processing of resources,” Marape said.

“Just because past leaders were not pushing this space will not stop my generation and those coming after me to move into downstream processing of fish, timber, agriculture, mineral and petroleum products.

“If not now, then when?”

Article courtesy of the National

Appreciating farming as a sustainable and viable business practice is the message from PNG Agriculture Company’s PNG Agbook who are partners with the UNCDF in the EU Funded Joint STREIT PNG Programme. PNG Agbook working with the PNG Cocoa Board, organized two sets of trainings for rural farmers in the Sepik region of Papua New Guinea.

A total of 23 farmers who represented farmer groups and agribusinesses in the Sandaun and East Sepik provinces were eager participants in the trainings conducted recently over a two-week period at the PNG Cocoa Board nursery site in Hawain, Wewak District, East Sepik Province.

Facilitating the sessions was owner and Managing Director of PNG Agbook Company, Ms Nicole Isifu, a committed young woman inspired to challenge existing farming practices and to drive an increase in more active youth participation in agriculture – as entrepreneurs rather than as part-timers and labourers.

The first module was on ‘financial literacy’ while the second session focused on ‘farming as a business’. Two participants manual booklets with simple instructions on topics covered in the sessions were also given to participants to take home and read at their own time. Farming as a Business Manual contains topics like Basics of Money, Financial Fitness, Savings, Budgeting and Borrowing. While the Farm Business Plan booklet contains subjects like Farm Production Plan, Market Plan, Farm Business Profitability and Managing Risks.

“While farming provides a means for meeting household subsistence needs, the rationale is to add value out of this practice that must be business like and this is where financial literacy knowledge and farm management skills are crucial and necessary for rural communities in realizing the value  of agriculture  for an improved income and sustainable participation and living,” explained the EU Funded UN Joint STREIT Programme Coordinator Dr Xuebing Sun.

The participants also benefitted from the presence of three other UNCDF financial institution partners under the EU Funded STREIT Programme. MiBank, WMBL (Mama Bank) and Cellmoni (Digicel) were invited to make special presentations to the farmers on their savings requirements, loan eligibility and the different products and services that are available to the three value chains. 

The farmers attended as Trainers-of-Trainers and were expected to return to their clusters/groups to train other members including youths and women so this important knowledge to appreciate and practice farming as a business is passed on to others for a collective change in mindset by all in rural communities.

For the participants, contents of the training were excellent and relevant to their household and farming needs where they can easily implement in their local areas. “We didn’t know how to save money with the bank so in times of need we can apply for small loans. If this training had come earlier, I think PNG would have change a lot,” said Xavier Kapia, a single male farmer from Mupa Cocoa Farming Group of Angoram District, East Sepik. “When I have a family, my children should not face the challenges of not completing their education just because of school fee problems. I will start saving now,” added Kapia who is still enjoying a young life.

The training was beneficial to farmer groups as well to operate like a business. “With this financial literacy skills, we can now prepare proper documentations as one of the requirements of lending agencies to access small loans. My executives are village boys so I can go back and train them,” said Jimmy Makain, the Executive Officer of Wape Agriculture Marketing Group in the Lumi District of Sandaun Province. The group has a membership of 56 clusters comprising 1300 plus member farmers which includes youths and women from East and West Wape LLGs.  

UNCDF partner under the EU-STREIT PNG Programme, MiBank, opened 22 new accounts from this meeting, not only from the participants, but also from locals living within the vicinity of the training area.

The UNCDF under EU-STREIT PNG and in collaboration with local partners support implementation of activities related to access finance, rural banking and cashless banking systems. The Programme also support financial literacy of the beneficiaries and an improved business environment.

The EU-STREIT PNG, being implemented as a UN joint Programme (FAO as leading agency, and ILO, ITU, UNCDF and UNDP as implementing partners), is the largest grant-funded Programme of the European Union in the country and the Pacific region, which focuses on increasing sustainable and inclusive economic development of rural areas through Increasing the economic returns and opportunities from cocoa, vanilla and fishery value chains and strengthening and improving the efficiency of value chain enablers including the business environment and supporting sustainable, climate-proof transport and energy infrastructure development.

Telstra, Australia’s leading telecommunications and technology company, today announced it has officially acquired Digicel Pacific in partnership with the Australian Government. Telstra will continue to invest in and operate the business across its six South Pacific markets – Papua New Guinea, Fiji, Nauru, Samoa, Tonga and Vanuatu.

Oliver Camplin-Warner, Telstra International CEO, said the deal was an exciting milestone for the Digicel Pacific business and its customers in Papua New Guinea.

“We’re very pleased to welcome Digicel Pacific into the Telstra family. The Digicel Pacific team in PNG have amazing local expertise and are leaders in digital experiences for their customers. Together, we’ll work to ensure Digicel Pacific remains the top provider in PNG,” he said.

Mr Camplin-Warner confirmed there would not be any local job losses in the Pacific as part of the acquisition and the current Digicel Pacific team would continue the day-to-day running of the business.

“Digicel Pacific will still have the same people and products that their PNG customers know and love today,” he said.

“Telstra will add to these strengths with our more than one hundred years’ experience building and operating the largest mobile network in Australia, and our operations in more than 20 countries world-wide.”

“As part of our commitment to building a strong and sustainable PNG, Digicel Pacific will invest in an additional 115 towers which will be built across PNG over the next two years,” Mr Camplin-Warner added.

“This investment will mean continued improvements to 4G coverage, particularly in rural areas, which will bring with it opportunities to improve health, education, agricultural, commerce and cultural outcomes through the use of technology.”

Colin Stone, CEO, Digicel Papua New Guinea, said Telstra’s expertise in rolling out world-class networks and connecting remote communities would greatly enhance the work to date of Digicel and benefit the people and businesses of PNG.

“Telstra has experience connecting regional and remote customers in challenging geographies across mountains, deserts, rainforests and coastlines,” Mr Stone said.

“We’re looking forward to Telstra applying its network experience as well as its innovation and technology solutions to PNG to continue increasing connectivity in the region as Digicel has been doing for the past 14 years.”

Mr Camplin-Warner said the values of both Telstra and Digicel Pacific were a natural fit, with the companies committed to working together to build a connected future for everyone.

“We strongly believe we are “better together”, and this includes how we both work to support some of the most vulnerable in our communities,” he said.

“Telstra strongly supports Digicel Pacific’s grass roots community investments through the Digicel Foundation, and we are committed to seeing this work continue.”

Local landowners from the Yandera Copper Project in Madang have stressed their concerns and objections to the upcoming renewal of its project exploration license EL 1335.

Most landowners are adamant to have the renewal refused by any incoming Minister for Mining, as they want an innovative developer to come into the project that can do actual work on the ground and have a better approach to community relations.

Located 95 kilometers southwest of the northern seaport of Madang and situated within the highly prospective New Guinea Copper-Gold Belt, the Yandera Project area was the subject of intensive, drill-based exploration programs during the late 1960s and 1970s up until the early 2000s by several companies.

The recent acquisition of Carpo Resources by Canadian junior Freeport Resources was finalized in August 2021, as Freeport’s report confirms. Since then, they have been the full owner of Carpo Resources and all shares in Era Resources (formerly Marengo Mining), the current holder of EL 1335, which currently has an application for renewal still pending for the past year.

A spokesman for the Yandera Landowners Association, Mr. Greg Gambu, raised concern earlier this year that EL 1335 Yandera expired in November 2021, and appealed to the Mineral Resources Authority (MRA) not to renew the license to any company except a genuine developer.

“Our pristine environment has suffered tremendous damage under the pretext of exploration while the exploration companies have made a lot of money on the stock exchange over the years,” Mr. Gambu said.

“With no road access we depend on our rich environment for our survival, and the exploration activities have disturbed our means of survival in a very big way.”

“We cannot let them (exploration companies) continue to keep us in suspense and become rich on the stock exchange market at the expense of our suffering by destroying the environment that we depend on for our daily needs.”

“It’s time now that they act on the results of their exploration activities – they should decide whether to Pack up and leave us alone or mine the deposit now,” Mr. Gambu added.

In response to these statements, MRA Managing Director Mr. Jerry Garry stated: “There is no mining activity in the exploration license (EL 1335) at Yandera Copper mine in Madang Province.”

Mr. Garry confirmed that the exploration license is still undergoing extension application, which is deemed ongoing until a determination is made by the Mining Minister, currently Johnson Ibo Tuke MP.

“The exploration license is for exploration only and does not extend to mining deposits. EL 1335 was first granted in 2003 and has remained active since,” he added.

“The EL has been reviewed for consideration by the Mining Advisory Council, if not it will be reviewed to renew their licenses,” Mr. Garry said.

As far as many locals are concerned, they still have a lack of trust in Freeport’s ability to develop Yandera. This was due to reports that showed Freeport’s continued share price decrease since 2021, so they seem uncertain on how Freeport would fund any mining activity at Yandera, even if they obtained a renewal of EL 1335.

Before this, officials of the firm have not made any contact with landowners at Yandera during the signing of the acquisition last August.

About this issue and the underlying concerns from landowners from Yandera, former Marengo Mining CEO Les Emery commented on the current situation.

Emery said: “From 2005 until my team and I were replaced in May 2014, Marengo Mining undertook a vast amount of exploration within the Yandera Project area and the one aspect that was of paramount importance was that we worked to ensure that the local communities were kept continuously informed of what was happening.”

“From the reports that I receive from many of my friends within the project area, Freeport has failed to make any sort of contact with the landowners, since announcing their involvement in the Yandera Project, almost one year ago.”

“My other concern is the capacity of Freeport to be able to fund the level of budgets required to take the Project to the next stage, given Freeport’s current stated cash reserves and market capitalization, should they be fortunate enough to gain a renewal of EL 1335, they would, in my opinion, struggle to even undertake minor exploration projects, let alone fund the completion of a bankable feasibility study,” Emery added.

The Yandera Copper Project and all concerned stakeholders will most likely still await an announcement, as the country is amidst the elections and the appointment and determination of a new Mining minister will see another inevitable delay in the progress to review and renew EL 1335.

Photo credit: Loop PNG - Clarence Hoot  

The Investment Promotion Authority will be reviewing its Strategic Plan 2021-2023 as the plan is halfway into its implementation timeframe.

Investment Promotion Authority managing director Clarence Hoot in IPA’s fifth edition of Opportunity newsletter, said IPA is reviewing the plan to assess how much of it has been accomplished and how they are progressing in achieving the goal set in the plan.

He said that they are also preparing to go on an outreach program to educate the public on the Reserved Activities list and other business-related legislations recently passed by Parliament.

“We will keep you posted on the schedule and the places we will be visiting to conduct the awareness outreach program.

“IPA will also be upgrading our Online Registry System to make it friendlier to our clientele.

Apart from this we are developing an investment opportunity profile (IOP) database in Partnership with the United Nations Industrial Development Organisation (UNIDO) to identify, package and promote investment ready projects in the country,” Mr Hoot said.

He said IPA is also updating their website and uploading fresh content to reflect the current economic situation in the country.

“It is apparent that IPA as an organisation is going through a transition period at the moment with efforts currently placed on institutional strengthening and capacity upgrading.

“We hope the incoming government will pass the Bill on the Investment Promotion Act amendments early so we can work on a full rebranding of the IPA with clearer guidelines on the functions and roles and responsibilities of IPA.”

Photo: Simberi’s rope conveyor (Ropecon), part of the mine’s clean energy campaign, delivers ore to the process plant three-kilometres downhill from the pit. [Photo by Chamber of Mines and Petroleum]

St Barbara is expecting its sulphide expansion project at the Simberi operation in New Ireland, Papua New Guinea to proceed either under its name or a different ownership.

Managing director and chief executive officer Craig Jetson said there had been interest from potential investors.

“The company has decided to commence a strategic review of St Barbara’s investment in the Simberi operation and defer the final investment decision in the Sulphide expansion project,” Jetson said.

“St Barbara faces capital investments at each of its three operations in the next two years. This strategic review will assess the best allocation of capital for risk and return compared with the company’s other projects.

“St Barbara has received unsolicited enquiries from potential investors in Simberi, and anticipates the Sulphide expansion project to proceed either under St Barbara or a different ownership.”

Jetson added that the approval for the Simberi sulphide project had been endorsed and signed by the Minister for Environment and Conservation and Climate Change.

The approval is now in the final stage of being issued.

“The front end engineering and design (FEED) study has continued while we await the permit, including finalising the mine design for the preferred pit development sequence and seeking to confirm a reliable capital cost estimate in a volatile pricing environment,” he said.

“The significant cost inflationary pressures currently being experienced in the global project construction market, together with some project scope changes are resulting in a significant increase in the capital cost estimate relative to that calculated in the feasibility study.”

Article courtesy of The National / Pacific Mining Watch

Photo credit: Steamships

On Saturday, June 12, 2022, Steamships and Moore Printing handed over cheques for PGK100,000 to The Hands of Rescue Foundation (THOR). Present to witness the donation were General Manager Corporate Affairs Vele Rupa, Moore Printing Managing Director David Doig and THOR founder Dr Barry Kirby.

THOR is a Papua New Guinean non-profit organisation based in Alotau, Milne Bay Province with a focus on achieving safe motherhood for women in Papua New Guinea. Its mission is to reduce maternal mortality throughout Milne Bay and the rest of PNG.

Steamships GM Corporate Affairs Vele Rupa said, “Steamships employs over 600 women across our business, all over the country, the importance of safe motherhood is not lost on us. If there is a way for us to help in a small way, we are incredibly pleased to do so.

“The maternal health and wellbeing of our female colleagues is important to a healthy community. We recognise the fact that when women and girls are safe, healthy, educated, employed, and empowered they can contribute to all aspects of life, especially their families, and the community and nation will flourish. “

Moore Printing Managing Director David Doig said that Moore has been supporting Dr Barry for the past three years or so and has so far provided THOR with K150,000 in cash donations as well as other assistance in kind in support of promoting THOR and Dr Barry’s much-needed work.

Mr Doig said it was very pleasing to see the Steamships Group become another supporter of Dr Barry and his tireless efforts to save the lives of birthing mothers and their babies.

During the cheque presentation, Dr Barry said the donation would go towards ensuring THOR services reach the outlying island communities in Milne Bay Province.

In 2021 Steamships spent over K900,000 on community projects focusing on women, health, education, and the environment. Notable recipients have been Susu Mamas, Buk Bilong Pikinini, Bel Isi, Femili PNG and the Gateway Children’s Fund.

Moore Printing is the largest manufacturer and supplier of business forms and general printing in Papua New Guinea with a long history of providing innovative, quality paper-based business communication solutions. Moore has continued to expand its expertise and production beyond traditional offset printing & business forms to now include digital printing & variable imaging and document management solutions. Now employing over 240 people in Papua New Guinea, Moore continues to lead the way in the provision of world-class print, document, and e-business solutions.

Steamships’ time in Papua New Guinea has seen it evolve into seven distinct businesses that span three competitive industries: property, hospitality and logistics. The can-do spirit is imbued in everything it does. The business’ success has been built on creating sustainable shareholder value through long-term investment, development, diversification, operational excellence and good governance. At Steamships we believe that every day brings the potential to do things better than yesterday. We don’t just do business in Papua New Guinea, it’s our home.

Photo: PNG CR’s 95 percent nationalised workforce manufactures buildings in-country and thus helps clients achieve their local content objectives

It is readily accepted that prefabricated and modular building systems are better suited to Papua New Guinea than conventional modes of building.  This is especially so for remotely located resource sector projects such as camps, but also for housing developments and large civil infrastructure projects including hospitals, schools, and government offices.  There are several prefabricated and modular building providers in PNG, however they differ in the extent to which they ‘give back’ to PNG, as well as the extent to which they help their clients achieve their local content objectives.

While cost is always a critical criterion for building procurement, companies are increasingly placing greater emphasis on building suppliers that make a meaningful contribution to PNG.  Managing Director of PNG CR, Allen Tyson says that “most of the country’s modular and prefab builders are doing a similarly good job when it comes to corporate social responsibility, but they do differ when it comes to local content.”

Having good local content credentials encompasses much more than a company ensuring it employs as many PNG Nationals as possible.  It’s also about maximising the number of PNG owned businesses in their supply chains, as well as supporting and capacity building these businesses.

PNG CR, with its 14 years’ experience providing world class modular and containerised buildings in PNG, implements a range of initiatives that maximise the incorporation of local businesses in their supply chains of large projects:

• Centralised procurement of local goods,
• Agricultural co-ops,
• Business start-up training,
• Assistance to scalability of local partners,
• Expansion of business partners at national levels, &
• Training and upskilling of local workforce.

“In addition to making sure we have as many local businesses in our supply chains as possible, 95 percent of our 250+ workforce is Papua New Guinean” says Tyson.  “This workforce is largely permanent, and we increase it by hiring more local workers when the need arises.”

Unlike some of its competitors, which manufacture cheaply off-shore, PNG CR manufactures in-country.  Tyson acknowledges this wasn’t always the case but says that over the last 14 years his company has established the capability to produce PNG made building solutions.  According to Tyson, 80 percent of a typical PNG CR building (e.g., framing, cladding, roofing) is manufactured in-country. 

Manufacturing locally obviously has many benefits for PNG in terms of employment, upskilling, and reducing the reliance on expensive expatriates who send their money overseas. It also assists clients who procure PNG CR buildings with their own local content requirements.

PNG CR has delivered a broad spectrum of buildings in PNG in addition to the 9,700 person camp complex with ancillary buildings it designed, supplied, and installed for the PNG LNG project back in 2010.  The company has also provided PNG with several other camp and staff accommodation facilities, an airport terminal, a medical centre, an ambulance control centre, numerous offices, and many more buildings.

As well as the buildings PNG CR supplies, the company also has full facility management capacity.   Tyson says that this capacity is highly valued, particularly by resource sector clients with hundreds or even thousands of staff to accommodate and multiple buildings to operate. 

“We provide a design-manufacture-construct-operate model – essentially an ‘A to Z’ turnkey suite of solutions for clients. In short, we can take care of absolutely everything building-related which enables our clients to get on with their core business. Obviously dealing with one contractor like PNG CR who can literally ‘do it all’, is a lot easier than managing multiple contractors.”

Photo: EMPNG volunteer program

CSR:  It once meant a big company handing over large sums of cash in the hope (or more usually, on the condition) of getting something in return, but today it means a whole lot more.  Today it is about the social licence to operate and also a necessity if we are to meet net zero by 2050.  Today’s global society is identifying that doing good for others is actually doing good for you.  In this way Corporate Social Responsibility, although still evolving, is also proving to be good for business.   A company that ‘cares’ for its staff and others, creates a happy workforce, a happy workforce leads to less staff turnover, greater productivity and overall, makes for a good bottom line.   In fact, progressive companies proactively use their CSR programs as marking tools.  

Furthermore, it doesn’t focus just on big corporations.  Every entity, private, government and not-for-profit, big or small, has a role to play in improving our communities.  It is as simple as the choices we make in whatever our line of work.  Ensuring supply chains are equally socially responsible is a sure way to drive change, and really takes little, to no extra effort.  By adding a few questions to your procurement processes you’re making a difference.  Better yet, those that can, should proactively assist/encourage business in the right direction:  if you supply in this way, we will commit to your product/service.    

Being socially responsible is worth more than just the material worth that may be provided.  It provides the concept of planning for tomorrow, because today is taken care of.  It provides long term assurance that support is ongoing, so there is no need for an immediate cash grab.  Advanced programs also provide for growth within arrangements and often involve more than one partner.  An initial relationship can create leverage and multiply the ROI when further relationships come onboard. This is often the case when industry partners with the not-for-profit sector; partnerships reach out to wider community groups to facilitate work required ‘on the ground’.

More and more we now see collaboration between partners that was previously unheard of.  Consider the recent arrangement between one of Australia’s largest pastoral companies, The North Australian Pastoral Company and Australian Wildlife Conservancy, one of the largest conservation NGO’s.  This will manage 6 million hectares with key objective to demonstrate that conservation focused land management can benefit both pastoral productivity and biodiversity.  It’s an innovative investment in the ongoing sustainability of both party’s core business. You need an open mind but if you start by finding similarities instead of targeting historic conflict, you’ll go a lot further.

Good CSR arrangements aim to become more than year to year grant submissions.  To be successful and truly fit the definition of corporate social responsibility, CSR arrangements need to be just like any other facet of business.  Budgeted for, measured, and reviewed accordingly to provide an effective feedback mechanism, thus ensuring the biggest bang for your buck! 

Agreed milestones also provide greater flexibility into how the project may evolve, even mid allocation, provided it meets criteria and each completed stage provides engagement opportunities between partners as well as to the wider community.  These celebrations are equally as important to schedule and commit too as the program itself and what’s more, they are wonderful brand promotional activities. 

Regularly sharing progress to the wider community, rather than just listing in an annual report offers your program momentum, credibility and adds to your reputational profile.  After all, if nobody hears about it, is it really social responsibility or just a business deal between two companies?   Additionally, consider delivering your success to wider audiences.  Make them a part of everyday business, promote them at industry expos and during networking events or conferences.  Offer to present them to other industry networking events as well.  You’ll be surprised at the response. Most of all, share your stories.

Port Moresby Nature Park simply wouldn’t exist without our corporate partners, big and small.  Annually they make up 30-40% of our budget.  Many of our partners have been with us from the very beginning: ExxonMobil PNG, Ela Motors, Digicel, being key players in our foundation wildlife and education programs.  Partners such as Newcrest Mining maybe newer on the scene but equally important as we expand our reach and capacity to assist rescued wildlife, enhancing the awareness of key environmental issues along the way.  In our future there are plans for major upgrades to infrastructure to provide a platform for an international conservation research hub.  A place where international players can base their fieldwork on PNG biodiversity.   With a focus on collaboration and coordinated research, we aim to be the most sought-after platform in the country, and to also utilise this to provide stability to finances.   There are a few steps to go in reaching this goal but we are perfectly positioned in a biodiversity hotspot central to current global conversations regarding climate change.  We remain steadfast in our Vision- to inspire the guardianship of PNG flora, fauna and culture; we hope you will join us.  Remember, it’s not just good for the planet, it’s good for business!

Photo: One of Oilmin’s Campsites in PNG

In Papua New Guinea, Field Service providers are constantly challenged to adapt their operations based on the particular conditions encountered at the Project area of operations.

A company which has been in the business of providing these services to the oil, gas and mining sectors for the past 30 years is O.M. Holdings Limited (trading as Oilmin Field Services and Oilmin Seismic Services). Oilmin is a 100% PNG owned company which has an enviable reputation of providing safe and efficient Field Services throughout the country despite the rigorous demands of supporting exploration operations in challenging terrain.

Oilmin’s core expertise includes manpower (skilled and unskilled) and expert supervision for onshore seismic acquisition surveys, construction of remote camps and the subsequent management and catering services, and civil construction projects including construction of rig pads. Oilmin’s pool of specialists includes Project Managers with a specific expertise in Seismic Crew Management, Tree Felling Specialists, Trainers, Drilling Managers, Bridging Managers, Civil Construction Managers, Camp Managers and Catering Managers. The primary task of these specialists is to bring their international experience and expertise to ensure safe operations. It is an Oilmin requirement that they assess their National workforce, train them, identify high achievers and mentor them into senior roles within the Company. This has been very successful and Oilmin now has National Chainsaw Supervisors within the company. They also have National Managers throughout Oilmin whom manage operations in the areas of Camp Management, Catering, Personnel, Human Resources and Logistics.

With an established history that spans over three decades in the industry, their major clients are International Oil, Gas, Mining and Construction companies with operations all over Papua New Guinea.

Mr. Fintan Lalor, Oilmin’s Operations Manager said “Recent developments has led to Oilmin partnering with Smart Seismic Solutions to offer locally based geophysical exploration services to our clients. For the first time in PNG, a PNG owned company is now operating a world class seismic crew on behalf of international exploration companies. Our clients can rely on us to sub-contract all of the support services required such as helicopters and medical services which significantly reduces much of the preparation work that historically they performed themselves.”

With a vast local and regional knowledge and as one of the PNG’s leading suppliers of remote field support services, Oilmin aims to be the premier support service provider for major Oil & Gas projects and other industries.

Photo: Head Office view of Moni Plus Ltd

Heduru Moni Limited initially traded as Kina Finance in 1998 prior to being granted a license by the Bank of Papua New Guinea before transitioning into a Financial Institution and rebranding its trading name as Moni Plus. To date, the company has assisted thousands of Papua New Guineans and valued clients to improve their financial position and achieve their dreams through the company's commitment to service excellence.

With over 20 plus years of experience, Moni Plus is fast becoming one of Papua New Guinea's leading financial service provider, servicing all major regions of Papua New Guinea with its headquarters in Port Moresby and branch offices at PORT MORESBY, Mt HAGEN, ALOTAU, LAE & KOKOPO, covering most major centers of the country.

Moni Plus is specialized in a wide variety of lending in which their services include: Personal Loans, Asset and Equipment Finance, Loans against Properties, Financial Guarantee, FX Remittance services. Apart from core strength on Personal loans, Moni Plus’ strength lies in its ability to respond to all type of business houses and sectors, from corporate heavies in transport, logistics and construction to SMEs such as vehicle hire and public motor vehicle (PMV) operators nationwide.

In a recent interview with Moni Plus Managing Director Mr. Aho Baliki OBE an experienced and seasoned banker who is widely known in the Banking and Financial sectors of PNG, he Stated that "In an industry that requires faith and trust, Moni Plus has seen and experienced the success of its clients and endeavors to understand its clients’ particular needs and how best to serve them".

Mr. Baliki said "Most importantly, we are service orientated, meaning our clients are our number one priority"

When asked about the approach of Moni Plus during pre-pandemic scenarios, when Corona virus pandemic was putting most players out of business, Mr. Baliki explained that “Moni Plus had the appropriate strategies in terms of maintaining the core services and growth of the company’s profits".

“To their credit and the strength of the team, not just in terms of our decision-making but also in terms of how we could work together with our clients, contributed to our ability to serve our clients during the peak of the Covid pandemic and in turn, our customer service was quite good and was not really affected by the effects of Covid,” he said.

Moni Plus continues to enjoys a stable relationship with the Bank of PNG and have recently been leaning towards supplementing the SME sector through a partnership with the Bank of PNG's recently launched Credit Guarantee Scheme.

One of the finance company’s ultimate aim is to look at possible acquisition of a Commercial banking industry in the near future.

Mr. Baliki said that “We will continue to grow the business progressively.” He says “Moni Plus is a stable Institution with good potential and is well placed than it was in the past as profit margins have been ascending with each financial year and would very much be able, and keen to transition into a nationally owned bank in the near future”.

Ony 12 per cent of Papua New Guinea’s population has access to internet, making it one of the lowest rates in the world, an expert says.

Deloitte PNG director of consulting, Alberto Cimas said this was according to the latest available data on internet users in the country which showed that they did do not have full or continuous internet access.

“In other words, they simply use internet just to check Facebook once in a while, but they count as ‘internet users’ when they shouldn’t,” he said.

“Additionally, according to the latest data, only eight per cent of PNG’s population use social networks.

“We can assume that only a very small percentage use social media continuously or on a daily basis.

“In other words, usage of social media in PNG can be considered irrelevant.

“Also, note that the concept of ‘social media’ is very diverse and covers applications like Facebook, Twitter, Instagram, TikTok, Snapchat and others.”

Cimas noted that when looking at the data it was understood that cyber-security or fake news in social media did not pose a real threat to the election process in PNG.

“There are other threats like physical threats, fraud and corruption, manipulation of voting or counting and low implementation of the National Identification,” he said.

“Cyber-security and social media can be a threat in countries where most of the population have access to internet, simply because these cyber threats and fake news will reach most of the population.

“We already saw the case of Cambridge Analytica or the manipulation of social media messages in FB and Twitter during the US elections in 2018.” Here are some common cyber threats during elections overseas were:

• PHISHING: This occurs when an attacker poses as a known sender to gain personal information from you.
  Any information shared can be used to exploit your data for the attacker’s financial or personal gain;
• SMISHING: Otherwise known as SMS phishing or text phishing, occurs when the attacker contacts you via text messaging.

In some cases, attackers are looking to see which phone numbers respond, meaning that they are active and working numbers.
They may later use knowledge of your working phone number to exploit a more sophisticated attack;

• VISHING: Vishing or Voice phishing occurs when an attacker contacts you over the phone, posing as someone else.
  Outside of election season, these usually occur when an attacker pretends to an employee from the company you bank with or phone provider asking for personal information; and;
• SPEAR phishing: Instead of being targeted to a large group of people, spear phishing targets a specific individual.
  This type of message will appear to come from a person that you have a relationship with.

Photo credit: Air Niugini Facebook page

Air Niugini has advised the travelling public that effective from 06th August 2022, the airline will resume direct services to Honiara, Solomon Islands and Nadi, Fiji.

The resumption of services has been made possible by the relaxing of border restrictions in the two countries, and flights will initially operate once a week in each direction.

Air Niugini Chief Executive Officer(CEO), Mr Bruce Alabaster said, “Air Niugini is delighted to be able to resume flights to the Solomon Islands and Fiji following their suspension over two years ago at the start of pandemic when borders were closed. “

“We are confident that the resumption of these flights will boost trade, investment, and people movement between the three Melanesian countries.”

The flights are scheduled to provide convenient connections in Nadi to and from Suva, Los Angeles and San Francisco.

In Port Moresby these flights will allow convenient connections to and from Singapore, whilst in Honiara they will connect conveniently with Solomon Airlines domestic services around Solomon Islands.

Flight PX084 departs Port Moresby on Saturdays at 09: 45am, arriving in Honiara at 1: 05pm local time, before continuing on to Nadi where it arrives at 6:00pm local time.

The return service PX085 departs Nadi on Sundays at 08: 30am, arriving in Honiara at 10:30am local time.

After a one-hour stopover flight PX085 departs Honiara at 11:30am local time, landing in Port Moresby at 12: 50pm.

Flights will be operated by ANG’s Boeing 737 aircraft, with both Business and Economy class available, and with complimentary refreshments and entertainment on board.

Article courtesy of Air Niugini

Photo credit: 

ASIA-Pacific Economic Cooperation (Apec) countries and PNG’s trading partners have been invited to invest in the Ihu Special Economic Zone (ISEZ) in Kikori, Gulf, an official says.

Department of Foreign Affairs and International Trade secretary Elias Rahuromo Wohengu said the ISEZ concept began during the Apec Leaders’ Summit in 2018 in Port Moresby.

Wohengu rubbished news reported overseas that China was intending to establish a military base in either Daru, Western or within the ISEZ.

PNG has invited Apec economies such as the United States of America, Australia, New Zealand, Japan and the People’s Republic of China “to invest in this large national economic project”.

Wohengu said the ISEZ promoted sustained, inclusive, broad-base economic growth and downstream processing in the country.

He said only China had responded to be part of the national project.

“We want shipping ports open for international shipping line to export the products that would come out from the Ihu Special Economic Zone Project,” he said.

“Allegations that China would use their involvement in this national project to establish a military base is unfounded and very harmful to PNG-China bilateral relations.”

Wohengu said PNG’s priority was on realising economic independence for the country, and not on building security as claimed by the international media.

“All bilateral and development partners are welcome to work together with PNG in the ISEZ as well as other important national economic projects to assist PNG achieve this economic goal.”

EU-STREIT PNG preparing to install micro grid solar panels in selected public facilities to support cocoa, vanilla and fisheries entrepreneurs as well as livelihoods of rural communities.

To create an enabling environment for cocoa, vanilla and fisheries entrepreneurs and to generate real possibility for economic growth that will enhance the livelihoods of rural communities, the UNDP under the EU-Funded Joint UN STREIT PNG Programme, is closing in on preparatory works with stakeholders to install solar generated clean and renewable electrical energy in the Sepik region of Papua New Guinea.

In a one-day workshop organised by the Programme in Wewak, East Sepik Province, on Thursday 23 June, participating stakeholders from Division of Education, Sepik Seventh-day Adventist (SDA) Mission, Division of Health and Catholic Health Service came together to discuss and gauge feedback from beneficiaries on the installation of micro grid solar systems in six identified facilities.

The selected recipients in East Sepik Province are Taul Community Health Post in Turubu area of Wewak District, Nagum Adventist Secondary in Yangoru-Saussia District and the Catholic Health Service-run Dagua Community Health Centre along west coast highway in Wewak District. The beneficiaries in Sandaun Province are all located in Vanimo-Green District namely Don Bosco Technical School, Vanimo Secondary and Baro Community Health Post. These education and health facilities are located in areas with limited or no access to grid-connected electricity.

Opening the workshop was Head of FAO Country Office in Papua New Guinea Mr Bir Mandal who was visiting Wewak to support the programme to expedite the programme implementation and enhancing partnerships with East Sepik Provincial Government. Mr Mandal draw attention to the global scenario on energy access and what this means for the Greater Sepik Region and PNG. “A third of the 2.6 billion people in the world still do not have access to safe, clean fuels and technologies for cooking or heating their homes, at significant health, social and environmental costs. In PNG, only 15% of the total population of about 8 million have access to grid connected electricity.”

He added: “For change to occur, we need to reset our energy systems and put people into the centre – ensuring that these systems are cleaner, more secure, more resilient, and totally inclusive.”

“Under the Programme, we’re working together with relevant Government of PNG (GoPNG) agencies at the national level and our target provinces to ensure communities in the agri-value chain get connected to electricity via renewable energy sources. This initiative will contribute to the GoPNG’s energy access target as outlined in the Medium-Term Development Plan III and various development plans, policy frameworks and regulatory instruments,” said Mr Mandal.

Despite the disruption in the global supply chain by the Pandemic which has put a strain on the progress of this effort, UNDP’s Project Manager, Ms Karen Anawe, said, “I’m pleased to announce that preparatory works are now underway to ensure we assist the government to close the energy access gap by promoting clean energy and a transition towards a low carbon economy in our focus areas.”

Ms Anawe said the meeting also discussed sustainability and ownership arrangements of these micro grid solar systems.

For the recipients, unreliable electricity supply has been an ongoing dilemma for years, hence the support will give confidence as well as strengthening their operations to service better the rural people.

“Nagum Secondary is a recipient of this support and I like to say thank you to the European Union as financiers of this impact project, not only for the school, but for the community at large. We’re glad that the solar project in the future will gather for students from the Sepik provinces, and also from Madang and Morobe,” said Mr Jeffrey Saigomi, Secretary for Sepik SDA Mission.

For Dagua Community Health Centre, serving sick patients after hours or in the night has been an concern for some years because of no proper lighting. “This is a big help to us, especially for the people living along west coast including Dagua LLG. The solar power will provide sufficient lights for sick patients in our wards. It will also help with some emergencies we conduct after hours and in the night like attending to deliveries and injuries from road accidents mainly,” said Mr Ignatius Burr, Health Extension Officer. The rural health facility services some 100,000 plus rural population of Dagua LLG including those from Boikin LLG. Despite being handicapped in its operations, the facility is known for being the first to attend to some very serious road accident injuries along the west coast highway before referrals are made to Boram General Hospital in Wewak Town.

A feasibility assessment for renewable energy power was conducted in early 2021 for the region, and six facilities were identified for solar energy installation.

The UNDP under the EU-STREIT PNG Programme supports development and improvement of renewable energy to create an enabling environment that will embrace development of the three targeted value chains which thousands of rural communities in the Sepik Region depend on to sustain their livelihoods.

The EU-STREIT PNG, as a UN Joint Programme (FAO as leading agency, and ILO, ITU, UNCDF and UNDP as partners), is the largest grant-funded Programme of the European Union in the country and the Pacific region. Being implemented in close cooperation with the National and provincial government institutions, research entities, civil society organizations, and private sector enterprises, the Programme aims to help improve the lives of the people from East Sepik and Sandaun provinces, by focusing on increasing sustainable and inclusive economic development of rural areas through improved economic returns and opportunities from cocoa, vanilla and fishery value chains while strengthening and improving the efficiency of value chain enablers, including the business environment, and supporting sustainable, climate-proof transport and energy infrastructure development.

Photo credit: 

Santos is continuing a proud legacy of supporting the national sport of Papua New Guinea and women’s empowerment through its naming rights sponsorship of the PNG Orchids, the national women’s rugby league team.

The PNG Orchids through the PNG Rugby Football League (PNGRFL) Inc. received K1.8 million from Santos to back its World Cup Campaign in England this year.

Santos Country Chair PNG, Leon Buskens said: “Our values drive everything we do at Santos, and we are passionate about building a better future for the communities in which we operate. Our sponsorship of the PNG Orchids further reaffirms our commitment.

“The PNG Orchids only came into formation in 2017 but left a defining mark in 2019 with their first international win over England in Port Moresby. They are currently ranked 4th in the world and that for us, epitomizes the incredible talent of our women, their strength, courage and resilience.”

PNGRFL Chairman Sandis Tsaka thanked Santos for its investment in the national women’s team totalling K3.1 million in the last three years. “Santos is also supporting the development of sport in communities and the National Football Stadium (NFS), PNG’s home of rugby league where they have remained the inaugural naming rights sponsor of the NFS since its reconstruction. They remained with us through the two years of COVID-19 downturn period despite no PNG Hunters and international games at the stadium.

“The investment by Santos in women’s rugby league is an investment in the empowerment of women and girls in PNG. We have watched our very own Elsie Albert, a home-grown talent excel in the sport abroad as a WNRL player with the St George Illawarra Dragons. We also have pioneer Orchid, Della Audama who was until recently, the head trainer of the Central Dabaris men’s rugby league team in the country’s national rugby league competition. Della has since advanced at the administrative level to become the Assistant Coach for the Santos PNG Orchids to the World Cup.

“The future of women’s rugby is bright thanks in part to the support of Santos and all our valuable partners,” Tsaka said.

Article courtesy of Santos

Photo credit: Mayur Resources

Mayur Resources Limited has executed a binding offtake agreement with titanium pellet producer Qingdao Shinebest for the sale of vanadium titanomagnetite (magnetite) product from the Orokolo Bay Iron and Industrial Sands Project.

The Agreement replaces and improves the previously announced offtake with Shinebest, including increasing the contracted volume and term (see MRL ASX release dated 13 March 2019).

The Agreement is conditional upon entering operations by 30 June 2023, and a subsequent trial shipment of 30,000 tonnes performing to the satisfaction of Shinebest (as specified in the Agreement).

The key terms of the Agreement include: 

• Annual contract minimum volumes of 300,000 tonnes (±10%) of Product for an initial 3-year period, with the ability to mutually extend the term by a further year (total 4 years); 
• Product pricing formula based on the prevailing Platts 62% Fe iron ore pricing index (IODEX) with the application of a discount factor to adjust for the iron and titanium quality of the Product; 
• Pricing subject to a floor price mechanism, whereby if IODEX is below US$60 per tonne then there is no obligation to supply Product under the Agreement; 
• Agreed Product quality and specifications, as well as bonus and penalty payments that are standard for an Agreement of this nature; 
• CIF delivery terms apply; and 
• Force Majeure and other internationally recognised standard commercial terms apply.

Mayur Managing Director, Mr Paul Mulder, commented, “We are pleased to have revised our Agreement with Shinebest for approximately 60% of planned production from our fully permitted and construction ready Orokolo Bay Iron and Industrial Sands Project. Combined with the term sheet we executed with a leading Japanese trading house in December last year, the significant majority of the expected magnetite production from Orokolo Bay is now under some form of offtake agreement. The execution of this agreement with Shinebest provides investors, financiers and other stakeholders, future revenue certainty in continuing to progress the projects construction plans, with funding partners in the private and public space.”

Article courtesy of Mayur Resources

Photo credit: Kingston Resources - Misima Gold Project Regional Overview

Kingston Resources Limited is pleased to announce that following the recent conclusion of the Misima Gold Project Definitive Feasibility Study the Kingston Board has commenced a strategic review of the Company’s interest in the Project. 

The review will assess all options to maximise shareholder value of Kingston’s 100% interest in the Misima Gold Project. It will be conducted in parallel with ongoing Mining License and Environmental and Social Impact Assessment work programs which are expected to be concluded in the September quarter.

Kingston has appointed ICA Partners to support the strategic review process. ICA is specialist mining advisor with wide-ranging transactional experience gained over many years in many commodities and jurisdictions. It maintains widespread relationships across global corporate and capital markets.

Kingston Resources Managing Director, Andrew Corbett, said: “The Board, in consultation with ICA Partners, look forward to investigating opportunities to advance the Company’s interest in Misima by identifying, evaluating and entering into potential strategic transactions relating to the long-term value opportunity at Misima. We look forward to working on this exciting review, and we are confident that there are strategic opportunities to advance the Misima Gold Project, but more importantly to achieve significant value creation for our shareholders.”

Article courtesy of Kingston Resources