Santos has announced the successful completion of the Angore project in Hela Province, Papua New Guinea, further bolstering the country’s liquefied natural gas (LNG) production capacity. This milestone development, unveiled on November 19, marks a significant step forward for the PNG LNG venture, delivering up to 350 million standard cubic feet (mmscf)...

Plastic pollution has become a critical global challenge, driven by increasing production and inadequate waste management. Recognizing its urgency, 175 nations adopted the resolution “End Plastic Pollution: Towards an International Legally Binding Instrument” during the United Nations Environment Assembly (UNEA-5.2) in March 2022. This resolution in...

The 2025 National Budget of Papua New Guinea, amounting to K28.357 billion, was presented in Parliament on November 29 by Treasury Minister Ian Ling-Stuckey. The budget focuses on addressing law and order challenges, easing living pressures, reducing the deficit, and fostering economic growth. The budget, K980 million larger than its 2024 counterpart, ...

 Michael McWalter picks up his prior discussions of petroleum sector reform (Issue No. 3 2024) and describes in more detail exactly what a Production Sharing Contract, or what a PSC, is all about. In my commentary of PNG Business News, Issue 2, 2023 entitled: Petroleum Sector Reform for Papua New Guinea, I wrote about the need to apply better governan...

Papua New Guinea's Minister for Mining, Hon. Wake Goi, officially opened the Central Cement & Limestone Project (CCLP) Consultative Forum on November 27th at the Hilton Hotel, Port Moresby. The forum, in compliance with Section 3 of the Mining Act 1992, focused on advancing the project's Community Development Agreement (CDA).  The event gathered...

Papua New Guinea's Minister for Mining, Hon. Wake Goi, has reaffirmed his commitment to transparency and efficiency in the country’s mining sector. During a media conference on November 26 at the Mining Haus in Port Moresby, Minister Goi announced the signing of 48 tenement licenses, covering various operations such as alluvial mining, exploration, and...

In high-stakes environments such as mining and shipping, where workers often operate in challenging conditions, the importance of oral health is frequently overlooked. However, maintaining healthy teeth and gums is not just about having a bright smile; it plays a crucial role in overall employee health, productivity, and cost-effectiveness. Investin...

Tropicair is making significant advancements in its operations with the return of its VIP/Medivac CJ3 jet, fully refurbished and ready for service in late November. This aircraft stands out as the only jet within the Pacific region equipped for medical evacuations, emphasizing its vital role in emergency medical services. Based in Port Moresby, the ...

Great Pacific Gold Corp. is providing a corporate update on its Wild Dog Project, its ongoing diamond drilling program at the Kesar Project and its recently held Annual General Meeting. Highlights GPAC executive team recently visited Kesar and Wild Dog  Kesar Anteruno diamond drilling program progressing well:  ~1,000 meters of drilling c...

Bank of Papua New Guinea (BPNG), on behalf of the Green Finance Centre (GFC), has signed a significant memorandum of understanding (MoU) with the International Finance Corporation (IFC) and the Securities Commission of Papua New Guinea (SCPNG) for establishing the foundations of a thematic bond market in PNG and developing the next version of BPNG’s Inclu...

The Mineral Resources Authority (MRA) on behalf of the National Government on Friday Nov 29, 2024, announced a K500,000 credit (loan) support facility, for the women landowner associations of the Wafi Golpu Mining Project. A dummy cheque for this seed capital funding was presented to Mibank, by the Managing Director of the MRA Jerry Garry in Lae. MiBan...

The Papua New Guinea Immigration and Citizenship Services Authority (ICSA) today signed a milestone Memorandum of Understanding (MOU) with the PNG Tourism Promotion Authority (TPA) on mutual co-operation and data sharing that will enable promotion of the tourism sector and immigration services. The signing formally establishes a genuine partnership bet...

The Bank of Papua New Guinea (BPNG) and the Centre for Excellence in Financial Inclusion (CEFI) successfully hosted its inaugural Financial Inclusion Policy Forum and Excellence Awards on Friday November 22 at the APEC Haus in Port Moresby. Speakers at the forum included Governor of the Bank of Papua New Guinea (BPNG) Ms. Elizabeth Genia, BPNG Assistan...

November is Men's Health Awareness Month, and Santos was again proud to join the global community in commemorating the ‘Movember’ campaign and raising awareness of men's health issues. Dr. Suresh Raghunath, an oncology super-specialist and head of the Pacific International Hospital Oncology Unit, who has extensive experience in diagnosing and treating ...

Rocket and Satellite company SpaceX will be speaking and exhibiting its Starlink satellite subsidiary at the 2024 the at the 2024 PNG Investment Week. PNG’s leading investment event, PNG Investment Week will take place from December 6th to 11th in Sydney Australia, the PNG Investment Week program includes sessions on a range of topics covering the reso...

Ok Tedi Mining Limited (OTML) launched the first and largest front wheel loader, a Cat® 995 Large Wheel Loader (LWL), in Papua New Guinea and the second in the Pacific recently in Tabubil The Cat 995 LWL was purchased earlier this year from Hastings Deering, the Caterpillar equipment dealer, to increase production capacity and meet the growing demands ...

"How do we align ourselves to meet the Sustainable Development Goals (SDGs) for achieving health for all by 2030, including universal health coverage?" Papua New Guinea’s Minister for Health, Elias Kapavore, asked this during the 24th National Health Conference, as he outlined the progress and challenges in the nation’s health sector.  “We need to s...

The Goilala District Development Authority (DDA) presented a cheque of K600,000 to a Labor Mobility Agency, Soozoogoo Ltd., under the Labor Mobility Scheme aimed at creating employment opportunities for Papua New Guineans in Australia and New Zealand. The program also seeks to empower the district’s youth and improve socio-economic conditions for famil...

For investors looking to do business in Papua New Guinea, a key understanding of the various regulations are crucial in informing their business decisions. With this in mind, PNG’s flagship investment promotion event, the 2024 PNG Investment Week has opted to commence its proceedings with a Regulators Forum. To take place on Day 1 of PNG Investment ...

Atlas Steel PNG has broadened its services to meet the needs of the mining sector, eliminating the need for local mines to rely on overseas suppliers for mining support products. The company, which has been Papua New Guinea’s premier steel manufacturer and distributor for 48 years, is now diversifying its offerings beyond its traditional focus on the i...

As the garment and textile sector in Papua New Guinea (PNG) sees increased local innovation and production, the Women Enterprise Development Centre (WEDC) opened its new office in Port Moresby on November 15 to spur more entrepreneurship in the country. Minister for Commerce and Industry, Hon. Win Bakri Daki, expressed optimism about the future of the ...

The Small and Medium Enterprises Corporation (SMEC) recently signed a Memorandum of Understanding (MOU) with the Kerowagi District Development Authority (KDDA) to deliver entrepreneurship training and business development services in Kerowagi District in the Simbu Province Highlands of Papua New Guinea. The partnership aims to empower local entrepreneu...

Papua New Guinea (PNG) is set for economic recovery in 2024, with projected growth of 3.7%, up from 2.8% in 2023, according to the November 2024 WESTPAC WAILIS PNG Economic Update. This rebound is largely attributed to the resource sector, which continues to underpin the nation’s economy. However, inflationary pressures, a managed depreciation of the k...

Tolu Minerals Limited has successfully extended the mineralisation of its Tolukuma gold and silver deposit, announcing strong results from its latest drilling program at the nearby Taula vein system. Located 4.5 kilometers southeast of the existing Tolukuma gold mine, the exploration effort confirmed high-grade gold and silver intersections, opening up...