The inaugural Papua New Guinea (PNG) Resources Week, featuring the PNG Core Expo and Canconexx, concluded on a high note at the University of Papua New Guinea (UPNG) and The Resources Summit Dinner hosted at Hilton Hotel on July 4th. Aimed at fostering greater local engagement in the country’s resource sector, the event saw a good turnout of delegates,...

PNGX Group, operator of Papua New Guinea’s national stock exchange, has taken another step towards enhancing the PNG capital market. PNGX has released amendments to its Business Rule to modernise the management requirements for PNG’s stockbrokers. This follows the improvement to the speed of settlement of trades which took effect in July 2023, enhancin...

Kumul Petroleum Holdings has awarded a contract to OilMin Holdings Limited to carry out seismic work in two petroleum retention licences where KPHL is the operator. General Manager, Fintan Lalor, signed the contract on behalf of OilMin. Kumul Petroleum managing director, Wapu Sonk, said,”This contract award is the next step in our management of the pet...

Earlier this year, Pacific Trade Invest (PTI) Australia invited exporters across the Pacific to participate in the Pacific Islands Export Survey 2024. The survey, conducted biennially, provides crucial insights into the activities, challenges, and opportunities faced by Pacific exporters, informing regional policy development and trade strategies. PTI Aus...

Terrain Tamer 4WD have launched a new TV ad on various platforms across regional Australia, New Zealand, Fiji and Papua New Guinea, to air primarily during NRL, AFL and State of Origin matches. Running from May until September, the ad, titled “Customer is King” follows the story of a young Frank Hutchinson, who founded the Terrain Tamer brand in 1969 a...

Often referred to as PNG’s premier charter airline, Tropicair recently completed a major upgrade of its terminal at Jackson’s Airport. Tropicair CEO, Ivona Kadlec, explains why. “In 2023 Tropicair commemorated 25 years of operation in PNG.  As the airline has grown over that time, so too have the number of passengers and clients. Thus, there was a n...

NiuHomes, from PNG Forest Products, manufacture premium designed, quality kit homes in ranges to suit every budget and lifestyle in Papua New Guinea. Perfect for those starting out on a tight budget, the Baset Range starts at only K69,550 and provides low-cost 3 & 4 BR kit homes that are designed to lock-up stage, with no internal fixtures or fitti...

EDITOR’S NOTE: Ossberger, the German hydro-industry experts, has provided PNG Business News with this feature story that originally came out in Zek Hydro magazine’s May 2024 issue. Ossberger has supplied and installed 19 mini-hydropower turbines throughout PNG, mostly in rural districts, since the 1960s. The company likewise provided the hydropower system...

Lae Biscuit Company announces Brisbane based & East New Britain brought up professional basketball player Christian Pang as its newest brand ambassador under the company’s energy drink brand “PAWA”. Inline with Lae Biscuit Co. Ltd.’s core value of Passion that speaks highly of exercising pride in our brands and our history while promoting a positiv...

Mr. Chris Daniells officially assumed the role of Managing Director of Steamships Trading Company Ltd. (Steamships) on Monday 1st July 2024. He takes over from outgoing Managing Director, Mr. Rupert Bray, in a planned succession move. This is not his first time in PNG, as early in his career, Mr. Daniells worked for Steamships Shipping Agencies as Nati...

It is anticipated that following the endorsement of the National Agritourism Policy, the parties will work together to facilitate investment in the agritourism sector. This includes the development and marketing of existing agritourism products to create niche markets and attract tourists. The Secretary for the Department of Agriculture and Livestock, ...

by Rishabh Mukerjee, Helmtrude Sikas Iha and Damaris Warambukia Coffee is one of the most important smallholder cash crops in Papua New Guinea. It accounted for US$156 million of export earnings, 13% of agricultural export revenues, and 1.4% of total export revenues in PNG in 2021. According to the PNG Rural Household Survey 2023, approximately 55% of ...

MRL is pleased to announce the signing of a Non-Binding Exclusive Term Sheet (“Term Sheet”) with S&F Investment Advisors Ltd and ACAM LP (the "Investor"), for a proposed USD $50 million investment in MRL and its 100% owned MRCL subsidiary (the “Proposed Transaction”). Additionally, the Company is also pleased to announce an AUD $5 million placement...

The Prime Minister of Papua New Guinea James Marape officially launched the Five-Year Development Plan for Central Bougainville in Arawa Town yesterday. Present at the launching was the President of Bougainville Ishmael Toroama, Regional Member for Bougainville Peter Tsiamalili Jnr and cabinet Ministers from both the National Government and the Autonom...

Great Pacific Gold Corp. (GPAC) is pleased to provide an update on its portfolio of gold-copper assets within Papua New Guinea (“PNG”) consisting of four projects totalling approximately 2500 sq km. Arau Project The Arau Project consists of two exploration licenses, located in the Kainantu region, and includes the Mt. Victor Prospect, where previous...

A PanAust sponsored specialist medical team arranged by Interplast Australia has flown into Papua New Guinea to perform up to 40 specialist and reconstructive surgeries in the East Sepik Province. The visit aims to provide life-changing surgeries at no cost to disadvantaged communities and is part of PanAust subsidiary, Frieda River Limited’s, ongoing ...

PNG Business News is excited to announce our participation in Papua New Guinea's largest event, “PNG Resource Week,” themed “Building on Our Legacy: PNG Resource and Energy,” starting today until July 4. Join us at this significant event to engage with stakeholders, learn from industry experts, and celebrate the contributions of the resources sector an...

Hula Village, Central Province – John Swire & Sons, Steamships and the Embassy of the Federal Republic of Germany are thrilled to announce the successful completion and official opening of the redevelopment project at Vula’a Elementary School in Hula, Central Province, Papua New Guinea. The brand-new classroom was formally presented to the school c...

The PNG Chamber of Resources and Energy (PNG CORE) is set to host the second Community Affairs and National Content Expo (CANCONEX 2024) as part of the inaugural PNG Resources Week. The event, scheduled from July 1-4 at the University of Papua New Guinea, will focus on the rapidly growing initiative of National Content. National Content refers to th...

Wan PNG is introducing a significant upgrade to its platform with the implementation of an AI-driven Skills Engine. This feature aims to streamline the process of skill management for users, offering a curated database of over 13,000 skills linked to over 3,500 occupations. The primary goal is to provide a more efficient and intelligent method for both jo...

The staff of PNG Extractive Industries Transparency Initiative (PNGEITI) attended a one day workshop hosted by ExxonMobil’s Government Relations team. It was an information sharing session aimed to shed light on various aspects of the PNG LNG project, particularly its benefits that will have a positive and long lasting impact on the country. ExxonMo...

Benefits sharing will be a subject of discussion at CANCONEX, during the Inaugural PNG Resources Week to be held at the beginning of July. What benefits are derived from projects, where they are applied, and how they are applied, are all questions that many are still yet to fully understand. To shine the light on this area, a specific session on benefi...

Prime Minister Hon. James Marape has confirmed that he will be open the inaugural PNG Resources Week on 1 July 2024 by presenting the National Content address at the CANCONEX at UPNG. Additionally, PM Marape will close PNG Resources Week by speaking at the PNG Resources Week Gala Dinner on 4 July 2024 at the Hilton Hotel. The inaugural PNG Resources Week ...

The Mineral Resources Authority's (MRA) Managing Director, Jerry Garry, recently signed his new four-year contract of employment, at the Government House at Konedobu, Port Moresby. This is Mr Garry's second term as the MD for the MRA, having served in this capacity from 2019-2022. Between 2022 to early 2023, Mr Garry served as the Acting MD until his r...