Prime Minister Hon. James Marape announced recently the historic appointment of Ms. Elizabeth Genia as the first woman Governor of the Bank of Papua New Guinea (BPNG). Ms. Genia, who has been serving as the Acting Governor of BPNG since January 2023, was officially appointed by the National Executive Council (NEC). “I am pleased to announce the histori...

After over 20 years of failure, the Government of Papua New Guinea (PNG) has learnt from the mistakes of the past and is ready to kickoff Special Economic Zones (SEZs) in a big way starting this year, says the Minister for International Trade and Investment, Hon. Richard Maru. “Our first two Special Economic Zones were Malahang in Morobe Province and U...

The announcement of the partnership by Radisson Blu and Paga Hill development company today to build an international Radisson Blu branded hotel at Paga Hill Special Economic Zone (SEZ) marks the start of transformation of Paga Hill, says the Minister for International Trade and Investment, Hon. Richard Maru. “Radisson Blu is the largest hotel chain in...

Ok Tedi Mining Limited (OTML) has surpassed its annual sediment dredge target of 10 Million Cubic Meters (Mm3) and its rehabilitation target of 35 hectares for 2023 at its Bige Operations, located 125km from the mine. The Bige Operations dredged 10.3 Mm3 of river sediments and rehabilitated 40 hectares (ha) of sand stockpile in 2023. This achievemen...

Any major government policy reforms in the mineral resources and energy space in Papua New Guinea, will be done in consultation with industry. This was the assurance by Minister for Petroleum & Energy, Hon. Kerenga Kua, when presenting at the recent 2023 PNG Resources & Industry Investment Conference. Minister Kua reassured those present that t...

K92 Mining Inc. is pleased to announce record quarterly production results for the fourth quarter (“ Q4 ”) of 2023 at its Kainantu Gold Mine in Papua New Guinea, of 39,101 oz AuEq or 33,309 oz gold, 2,728,623 lbs copper and 56,502 oz silver. Sales during the quarter were 31,931 oz gold, 2,995,585 lbs copper and 61,712 oz silver. Annual production achieved...

K92 Mining Inc. is pleased to announce the promotions of David Medilek to the position of President & Chief Operating Officer and Chris Kinver to the position of Vice President Projects & Engineering. Mr. Medilek is a mining professional with over 16 years of mining capital markets, corporate strategy and technical operating experience. Mr. Med...

In a major announcement made recently, Prime Minister Hon. James Marape revealed his ambitious plan to transform Jiwaka, the home of the great Wahgi Valley, into the “agriculture powerhouse” of Papua New Guinea by 2025—the year marking the country’s 50th anniversary of independence. Addressing a massive crowd of thousands at the launch of the North Wah...

Prime Minister Hon. James Marape has called on all public servants to take inspiration from the Medium-Term Development Plan (MTDP) IV 2023-2027 to contribute to Papua New Guinea’s path to greatness. Addressing thousands of public servants on Friday, January 5, 2024, at the Sir John Guise Indoor Stadium and via livestream, Prime Minister Marape emphasi...

Prime Minister Hon. James Marape expressed his satisfaction recently at the signing of a groundbreaking agreement between Chinese company Ramu Nico Management Ltd and Kumul Minerals Holdings Ltd. The Memorandum of Understanding (MOU) signifies a significant step forward in fostering mutual trust and cooperation between China and Papua New Guinea, particul...

In the aftermath of widespread rioting and looting in Port Moresby, Prime Minister Marape announced a 14-day State-of-Emergency (SoE) in the National Capital District. The announcement came as a response to the unrest, and four high-ranking officials—Police Commissioner David Manning, Finance Secretary Sam Penias, Treasury Secretary Andrew Oaeke, and Pers...

In the aftermath of riots and looting in Port Moresby, Prime Minister Hon. James Marape has issued a heartfelt appeal to all Papua New Guineans, urging them to prioritise peace and normalcy. The Prime Minister expressed his deep concern for the unnecessary incidents that occurred. During a press conference held at Sir Manasupe Haus in Port Moresby, Pri...

The Papua New Guinea Investment Promotion Authority (IPA) as the investment promotion arm of Government and business regulator, has condemned the senseless attacks on business houses in Port Moresby and other centers around the country following the looting and burning down of shops and warehouses by the public whilst taking advantage of the stand down by...

Ok Tedi Mining Limited (OTML) announced a final dividend payment of PGK350 Million to its shareholders on 28th December 2023, bringing the total dividend to K450 Million for the year. The Company had declared an initial interim dividend payment of PGK100 Million on 26th October citing a positive outlook for a final dividend payment in December 2023. ...

Ok Tedi Mining Limited’s (OTML) Safety Manager, Anna Ila was the proud recipient of the Leader of the Year Award at the ‘Women in Safety’ Awards in Sydney, Australia on November 27th. Women in Safety is a network of women who are safety professionals in Australia and the Asia Pacific region. This network leads discussions on health and safety issues, c...

Steamships Trading Company Limited’s Managing Director, Rupert Bray, and Isikeli Taureka, Chief Executive Officer of Laba Holdings Limited, executed a Memorandum of Understanding that will lead to the creation of a new joint-venture company, Hebamo Transport. Hebamo Transport will focus specifically on logistical support to the resource industry. By co...

Santos is helping improve food security, quality of life and income opportunities for local farmers in its project impact areas through sustainable farming. In a partnership with Fresh Produce Development Agency (FPDA) and PNG Mining & Petroleum Hospitality Services (PNGMPHS), Santos Sustainable Development and Community Affairs teams work with fam...

A solar mini grid will soon be lighting up classrooms, dormitories, and teachers’ housing in Pimaga. Access to the electricity provided through this mini grid will transform the educational experience of young people and teachers at the Pimaga Vocational Education and Training (VET) centre. “For the first time we will have access to power, to suppor...

During the 2023 PNG Resources and Energy Investment Conference and Exhibition in Sydney last 11 December, Brett Darley, Santos Executive Vice President for Eastern Australia and PNG, highlighted Santos as one of Australia’s biggest domestic gas suppliers and a leading Asia Pacific LNG supplier. Darley expressed his gratitude to the PNG Chamber of Resou...

Representatives for the Mineral Resources Development Company (MRDC) and an ExxonMobil subsidiary signed a Jet Fuel Technical Services Agreement on the sidelines of the 2023 Papua New Guinea Resources & Energy Investment Conference this week in Sydney. Augustine Mano, MRDC Managing Director and CEO, said this signing unlocks the ability for MRDC to...

The National Government is taking strategic measures to address the depleting mineral resource inventories and decline in mineral exploration. Mining Minister Hon Sir Ano Pala told the 17th PNG Resources & Energy Investment Conference in Sydney Australia, that major operating gold and copper mines in the country would potentially reach the end of t...

Mining Minister Hon Sir Ano Pala recently presented the country’s mineral production outlook to a room packed with PNG and overseas delegates from government and private sectors, attending the 17th PNG Resources & Energy Investment Conference in Sydney. Minister Pala said PNG expected a strong total annual copper production for a period of over 30 ...

Policy reforms that strengthen legal frameworks will help Papua New Guinea (PNG) boost nontax revenues, says the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM).. “Subdued economic growth of 2% in 2023 is largely due to foreign exchange shortages, 20%–30% lower sales in various sectors, and a weakened contribution to g...

The Pacific economy is projected to continue expanding in 2023–2024, but supporting further growth requires additional government resources, according to the latest issue of the Asian Development Bank’s (ADB) Pacific Economic Monitor (PEM). Growth for the Pacific is forecast to be 3.5% in 2023 and 2.9% in 2024. Tourism-dependent economies including Fij...