Weir, a global leader in mining technology, has been awarded the contract to supply a large ø2.4m x 2.25m Enduron® HPGR (high-pressure grinding rolls) for De Grey Mining’s flagship Hemi Gold Project in the Pilbara region in Western Australia. Hemi has a mineral estimate of 10.5Moz and at full capacity, the processing plant will have a nameplate through...

Mayur Resources is pleased to provide an update on Stage 2 wharf development at the Central Cement and Lime Project in Papua New Guinea. Mayur Resources Managing Director Paul Mulder said the wharf development was a critical piece of work enabling marine infrastructure for both PNG, and the Company’s future plans. “Dedicated wharf facilities are str...

The Pacific is projected to grow by 3.3% in 2024 and 4.0% in 2025, but the need to build resilience continues, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM) launched today. This growth is largely driven by the recovery of resource extraction in Papua New Guinea, the subregion’s largest economy. Stabl...

The Bank of Papua New Guinea (BPNG), Australia and New Zealand Banking Corporation (PNG) Ltd (“ANZ”) and the Global Green Growth Institute (GGGI) have signed a Memorandum of Understanding (MoU) to integrate and reinforce the Inclusive Green Finance Policy (IGFP) into ANZ’s operations and services. The MoU establishes a framework for cooperation and col...

Prime Minister Hon. James Marape announced that Papua New Guinea’s economic outlook is showing significant improvement, driven by stronger growth, low and stable inflation, and a substantial easing of foreign exchange (FX) shortages. “The PNG economy is on a positive trajectory, with inflation persistently remaining below the historical average of 5.5 ...

The Autonomous Bougainville Government (ABG) has announced the signing of a Memorandum of Understanding (MOU) with Stellae Energy Ltd (Stellae), a UK-based Green Energy Solutions and Assets company. This partnership marks a significant achievement in Bougainville's journey towards energy independence and economic sustainability through the exploration ...

It is difficult to attract American companies to come and invest in Papua New Guinea (PNG) if they continue to go through the frustrations of establishing themselves in PNG, says The United States (US) Ambassador to PNG, Her Excellency Ann Marie Yastishock. Ambassador Yastishock made this statement today in her meeting with the Minister for International ...

The Autonomous Bougainville Government (ABG), Bougainville Copper Limited (BCL), and Rio Tinto have signed a Memorandum of Understanding to address concerns around future risks of ageing infrastructure in the former Panguna mine area.  This collaboration comes in response to information obtained during field work forthe independent Legacy Impact Assess...

Addressing a diverse audience of analysts, regulators, environmental scientists, and industry professionals during the Geosciences, Exploration, and Extraction (GEE) 2024 Conference, the Mineral Resources Authority (MRA) Managing Director, Jerry Gerry, emphasized the critical importance of sustainable practices in harnessing Papua New Guinea’s rich minera...

An innovative partnership between the Australian Government and PNG-based accreditation provider Paradais Review Services is set to send six Papua New Guineans on a vital training program in South Australia.   Over a two-week program, these individuals will train as National Association of Sustainable Agriculture Australia (NASAA) Organic Inspectors...

PNG has and estimated 100 (m) million ounces of gold that is yet to be mined according to the Prime Minister Hon James Marape. The PM revealed this when officially closing the Geoscience, Exploration & Extraction Conference 2024 yesterday at the APEC Haus in Port Moresby. He said based on the gold price of around US$ 2,400, the 100m ounces would...

There has been a decline in mineral exploration activities in the country since 2019, according to the Managing Director of the Mineral Resources Authority (MRA), Jerry Garry. Mr Garry said this recently at the Geoscience, Exploration & Extraction Conference 2024, at the APEC Haus in Port Moresby. The MD said from 2012-2018, most of the country ...

Papua New Guinea (PNG) is losing billions in US Dollars from the fisheries industry in revenue inflows because 80 percent of fish caught in the PNG Exclusive Economic Zone (EEZ) is processed and sold in other countries in US Dollars since PNG does not have a Domestication Policy. Chairman of RD Group, Mr. Roy Rivera revealed that over 60 per cent of RD’s ...

Prime Minister Hon. James Marape on Tuesday, August 6, 2024, expressed his gratitude to the outgoing Indian High Commissioner to Papua New Guinea, H.E. Inbasekar Sundaramurthi, for his exceptional contributions during his tenure. Prime Minister Marape acknowledged the progress made in India-PNG relations under High Commissioner Sundaramurthi’s leadersh...

Prime Minister, Hon. James Marape on Tuesday, August 6, 2024, welcomed new Chinese Ambassador to Papua New Guinea, His Excellency Mr Yang Xiaoguang, while commenting on the “great strides” the two countries have made in their bilateral ties in the last five years. Ambassador Yang Xiaoguang paid a courtesy call on the Prime Minister at his office at Sir...

Credit Corporation (PNG) Limited has achieved a long-held dream of its founding directors by evolving into a fully-fledged bank, a milestone celebrated by Chairman Dr. Albert Mellam during the official licensing event by the Bank of Papua New Guinea (BPNG). The transition to CreditBank PNG marks a pivotal moment in the company’s history, reflecting its...

August 5th marked a historic moment for Papua New Guinea's financial sector as the Bank of Papua New Guinea (BPNG) issued commercial banking licenses to TISA Bank Limited and Credit Bank PNG Limited. This event, held at the BPNG headquarters in Port Moresby, is the first time two banking licenses have been granted on the same day, signaling a significa...

The Papua New Guinea Chamber of Resources & Energy (PNG CORE) is pleased to announce the 2024 Papua New Guinea (PNG) Investment Week. The event, which will take place from December 6th to 11th, 2024, at the International Convention Centre in Sydney, was officially launched by Prime James Marape. In his remarks, the Prime Minister acknowledged th...

As part of its member engagement activities, staff from PNG Chamber of Resources and Energy (PNG CORE) recently took part in a stakeholder engagement, hosted by ExxonMobil PNG (EMPNG). This advocacy session, facilitated by EMPNG’s Government Affairs team, provided PNG CORE staff with an appreciation of work done by the PNG LNG Project operator, particu...

Ok Tedi Mining Limited (OTML) has signed a road construction contract worth K18.1 million for the Alice Pit to the Border Post Road Project in North Fly District. Funded through the Infrastructure Tax Credit Scheme (ITCS), the 14.55km road will serve as a critical link, connecting local communities to a key PNG-Indonesian border post at Yetetkun in the...

The 2024 Business Regulators Summit co-hosted by the Investment Promotion Authority (IPA) and Department of Information, Communication and Technology (DICT) on July 30 to 31 in Port Moresby drew representatives from businesses, regulators, investors, government agencies, non-government organisations, and the media across Papua New Guinea to Port Moresby f...

The Papua New Guinea Chamber of Resources and Energy (PNG Core) Manger for Policy and Analysis, Gretel Orake, addressed the urgent need for regulatory reform and enhanced capacity within PNG's regulatory bodies during the 2024 Business Regulators Summit held at Stanley's Hotel. Orake highlighted critical areas requiring attention to foster a more condu...

PNG Customs Service Chief Commissioner David Towe stressed Papua New Guinea’s commitment to trade facilitation and border protection during his presentation at the 2024 Business Regulators Summit, Session four on July 31. Addressing a diverse audience that included regulatory agency leaders, private sector representatives, NGOs, and media, Towe deliver...

Prime Minister Hon. James Marape, announced on Friday, August 2, 2024, that the State Negotiating Team (SNT) is actively engaged in discussions with Wafi-Golpu mine developers Newmont and Harmony, with the aim of finalising the Mine Development Contract (MDC). This critical step is part of the preparations for the prompt issuance of the Special Mining ...