May 16, 2025

Ok Tedi Mining Limited continues to develop Papua New Guineans as the country prepare to celebrate 50 years of independence.

The company, through its Training and Development Team has applauded ten students that recently graduated from the Papua New Guinea University of Technology (UoT) on April 11th and University of Papua New Guinea on April 28th .

The graduands will now join OTML’s Graduate Development Scheme later in the year.

OTML Manager Training & Development Ian Strachan highlighted the significance of the company’s drive in its legacy of building young professionals at an early stage.

“At OTML, people are our greatest resource, most of them come through tertiary institutions including Unitech, UPNG, and DWU. OTML invests substantial amount of money every year in its Undergraduate Scholarship Program, Graduate Development Scheme (GDS), Apprenticeship Training, Preferred Area Development (PAD), Industrial Training Program, and On-The-Job (OTJ) Trainings,” Mr Strachan said.

“It is evident that we are not only committed to developing OTML’s human resource, but also PNG’s human resource,” Mr Strachan added

Brian Ngi Sissan Titley, the recipient of the OTML award at UoT, graduated with the highest GPA. He acknowledged OTML’s support on behalf of his colleagues for the assistance in industrial trainings, school fee aids, book allowances, and travel assistances.

“The scholarship has eased the financial burden on my parents. I have two other siblings who could not start school earlier. When OTML sponsored me, my parents were able to pay for my siblings’ school fees,” said Mr Titley.

Mr Strachan stated the 10 graduates had successfully maintained their GPAs throughout their studies.

“Their success reflects not only their personal commitment but also OTML’s ongoing investment in developing future leaders for Papua New Guinea. These achievements have been rewarded as they have secured their spots in OTML’s two-year GDS program,” Mr Strachan said.

As a responsible corporate citizen, OTML is committed to investing in the education and development of Papua New Guinea's future leaders. This is evident with the company’s financial support to promising students pursuing higher education in relevant fields such as engineering, geology, applied physics, environmental science, surveying, accounting, and more.

Since the inception of the training programs, OTML has trained 1,161 Apprentices, 700 PAD trainees, 50 Industrial trainees, 30 OTJ students and 70 students have successfully graduated through the Undergraduate Scholarship program.

May 15, 2025

Margaret Aka, 2018 Sports Category Award winner of the Women of Westpac (WoW) Award winner and renowned sports consultant currently attached with Oceania Football Confederation (OFC), credits the WoW Awards for being a powerful turning point in her career and personal growth.

Known for her tireless advocacy in youth and women’s development through football, Margaret’s journey is one of passion, purpose, and perseverance. Since receiving the WoW Award, she has continued to break barriers and becoming a role model for women in sports, not just in PNG but across the Pacific.

“Being recognised by the WoW Awards was more than just a title. It gave me confidence and validation that the work I do in sports has real impact. It pushed me to dream bigger and aim higher,” Margaret shared.

Margaret’s commitment to sports development has taken her from local fields in PNG to global platforms with OFC. She uses her voice and experience to create pathways for young athletes, especially girls, to see sports as a tool for education, leadership, and opportunity.

Her story is a reminder of what can be achieved when women are supported, seen, and celebrated,

The WoW Awards, an initiative by Westpac PNG, recognises and uplifts women who are making a difference in their communities and industries. Margaret’s journey continues to inspire future generations of women leaders and athletes.

The 2025 WOW Awards will honour seven category winners, including an overall Westpac Outstanding Woman of the Year. Each winner will receive a K5,000 grant to support their professional or community development, along with mentorship, and fully funded travel and accommodation to participate in the awards program and associated leadership engagements.

As Westpac PNG celebrates 115 years of service, stories like Margaret’s reaffirm the importance of empowering women to drive positive change on the field and beyond.

May 14, 2025

Steamships is delighted to announce the appointment of Ms. Ruth Kissam as the new General Manager of Corporate Affairs. Ruth is a Community Organiser and Human Rights Activist by training and passion. She has been in the development space for over 16-years and has an impressive record working with a wide range of stakeholders at public and private levels and championing campaigns and impactful causes that have made a real difference in both civil society and in grass roots communities.

Most recently with United States Institute for Peace (USIP) as their Strategic Advisor and held various advisory roles with international development partners, Ruth has extensive experience with government, corporate and community engagement and is very well connected and respected with a wide and established network. Ruth also holds multiple board level positions.

“Ruth’s passion for human rights and deep understanding of PNG’s social and economic landscape align perfectly with our strategy to drive positive change and support the execution of Steamships strategy as we prepare for a period of sustained growth over the next 3-years,” said Chris Daniells, Steamships Managing Director.

Ruth’s career includes leadership roles with international NGOs, advocacy for marginalised groups, and advisory work on governance and human rights. Ruth brings a wealth of experience in corporate responsibility, sustainability and strategic communications. Her leadership will further strengthen Steamships’ commitment to sustainable business practices, community partnerships, and inclusive growth in Papua New Guinea.

"I’m honored to join Steamships as General Manager of Corporate Affairs. After years of working in the NGO and humanitarian sector, I’m excited to build bridges between community needs and business objectives,” said Ms. Kissam, “Steamships has a long history of contributing to Papua New Guinea’s development, and I look forward to aligning our efforts with its strategic goals to create shared value for both the company and the communities we serve."

Ruth studied Law at the University of PNG for two years, is an Obama Fellow at Columbia University and a Draper Hills Fellow (Fisher Family) at Stanford University.

May 12, 2025

Papua New Guinea is now part of the prestigious global engineering community, as the country has officially been voted in as a new member of the International Tunnelling and Underground Space Association (ITA) during the recent World Tunnel Congress held in Sweden.

Representatives from 80 countries gathered at the congress, where 46 voted in favor of PNG’s inclusion.

Papua New Guinea joining the 50-year-old organization ushers in a new chapter for national development in tunnelling and underground infrastructure, both critical to the mining and petroleum industries that power most of its economy.

The announcement comes as PNG rolls out infrastructure initiatives under the Connect PNG Programme, including the development of railway systems that will require advanced tunnelling through mountainous regions.

Joining the ITA connects PNG to a network of international expertise in underground construction, safety protocols, and engineering innovation, crucial elements for the successful delivery of complex projects.

"This membership is not just a win for PNG—it is a strategic step towards embracing global engineering standards and preparing our nation for the next 50 years of advanced transport infrastructure,” the PNG delegation said in a statement.

The ITA guides member nations on best practices in underground construction, safety, and innovation in the tunnelling and railway sectors.

The association extended congratulations to the team behind the Connect PNG Programme and “all stakeholders who helped bring Papua New Guinea into this prestigious global engineering community.”

From 9 to 15 May, Stockholmsmässan was the ITA’s platform for the future of underground infrastructure. More than 3,000 experts from around 80 countries gathered at the world-leading congress and exhibition.

The World Tunnel Congress (WTC) is an annual international congress and exhibition. For the first time, Sweden hosted the event, which was organised by the Swedish Rock Engineering Association with support from the ITA.

“The World Tunnel Congress is a strategically important event that reinforces Stockholm’s position as a leading city for sustainable infrastructure and technological innovation,” says Karin Mäntymäki, Head of International Market Development at Stockholm Business Region.

May 12, 2025

Austria has signalled a growing interest in strengthening economic ties with Papua New Guinea, focusing on high-value sectors such as green energy, forestry processing, and advanced technology.

This was revealed during a meeting between Austria’s new Ambassador, Her Excellency Elisabeth Koegler, and PNG’s Minister for International Trade and Investment, Hon. Richard Maru, on 7 May in Port Moresby.

Koegler emphasized Austria’s intention to explore investment opportunities, particularly in downstream processing of timber, as well as solar energy, hydroelectric development, and hi-tech industries.

A Central European nation with over nine million people, Austria is known for its robust, export-oriented economy and strong industrial, service, and tourism sectors.

The country has one of the world’s highest standards of living, ranking 18th globally on the Human Development Index in 2019, and benefits from its strategic location as a trade bridge between Western and Eastern Europe.

With its innovative manufacturing base, Austria specializes in producing machinery, automotive components, and pharmaceuticals. Vienna, the capital, also serves as a regional financial center.

Current trade between the two nations remains modest. In 2023, PNG exported approximately US$6.3 million worth of goods to Austria, including processed fish and industrial equipment, while Austria exported US$1.66 million to PNG, consisting mainly of printed materials, machine parts, and heating systems.

Minister Maru welcomed the dialogue, saying PNG wants to push increased foreign investment in sustainable industries.

“We want more investments in hydro and green energy, manufacturing, and the downstream processing of forestry and building materials,” he stated.

May 12, 2025

Matzuz Aid Post on Lihir Island, New Ireland Province now has reliable lighting to the facility for the first time after BSP Lihir installed a solar power system.

The Community project initiative, saw BSP Lihir staff volunteer their time outside work to make significant improvement to the health facility, located 40km from the main Lihir Township for the local community. 

This improvement now means healthcare workers no longer have to rely on torchlights to treat patients during the night. The solar system now powers the entire Aid Post, enabling a better environment for medical staff to administer patient care.

BSP Lihir staff went beyond the installation itself, contributing their time and effort to paint the Aid Post and enhance the surroundings, creating a more welcoming healthcare facility for the community.

The handover ceremony, held on May 3rd, 2025, was officiated by key community leaders, including Ward 9 Member Honourable Robert Huonanayal, Aid Post Chairman Tom Arau, church leader Peter Uspor, contractor representative Bobby Samuel, and other community members. BSP Lihir Deputy Manageress Grace Ngatia said BSP is proud to partner in championing prosperity across the community through this Aid Post.

"The successful completion of this solar-powered lighting project at Matzuz Aid Post reflects BSP’s ongoing commitment to developing sustainable solutions for our communities. Access to reliable lighting will enhance healthcare services, improve safety, and ensure that medical assistance is available at all hours,” Ngatia said.  

Ward Member Robert Huonanayal expressed his deep appreciation, commending BSP for the positive impact of the project.

“Now, our Aid Post has proper lighting, ensuring our health workers can care for patients at night without difficulty. This is a huge step forward for our community,” he said.

The Community Project initiative show’s BSP’s commitment to supporting rural communities and improving essential services.

May 12, 2025

Great Pacific Gold Corp.is providing an update on its exploration activities at the Wild Dog Project (“Wild Dog” or the “Project”), located on the island of New Britain, in the province of East New Britain, Papua New Guinea (“PNG”), Figure 1.

Key Highlights:

  • Dual purpose RC/Diamond drill arrived in late April and drilling has commenced.
  • Phase I drilling program focused on a 3km length of the Wild Dog epithermal vein structure (Figure 2) now consists of up to 16 diamond drill holes, totaling approximately 2,500 meters of diamond drilling.
  • A MobileMT survey geophysics helicopter-borne survey was flown by GPAC over 187km2 area (1,646 line-km) across the Wild Dog Project with 200-meter line spacing, infilled to 100-meter spacing in critical areas. The survey highlighted the Wild Dog epithermal vein structure over approximately 15km of strike length and a number of porphyry targets (Figure 3).
  • Preliminary geophysics over planned Phase I drill program areas of Sinivit and Kavasuki shows known mineralized systems near surface extend to depths of >1,000m (Figure 4).

“We are extremely pleased to begin drilling at our flag-ship Wild Dog Project after months of preparation including road refurbishment, environmental base line studies, camp and infrastructure establishment, geophysical surveys and community consultations,” commented Greg McCunn, CEO. “The geophysics has confirmed the tremendous potential of the epithermal vein system over a 15km strike length with depth potential to over 1,000 meters. This marks the first modern, systematic drill campaign at Wild Dog in over a decade and provides a rare opportunity to unlock the deeper potential of a proven high-grade system in a Tier 1 geological belt.”

Wild Dog MobileMT Geophysics Survey

A MobileMT geophysics helicopter-borne survey was flown by GPAC over 187km2 area (1,646 line-km) across the Wild Dog Project with 200-meter line spacing, infilled to 100-meter spacing in critical areas. The completion of the air-borne geophysical MobileMT survey is a critical step in advancing the Company’s understanding of the structural and lithological architecture controlling high-grade gold and copper mineralisation throughout the Wild Dog structural corridor. Originally the corridor was thought to be approximately 11km in length as mapped on surface, but the apparent conductivity trend over the epithermal vein structure extends for ~15km (Figure 2).

Wild Dog is a hybrid high and low sulphidation epithermal gold-telluride system, with brecciated and vuggy silica veins hosted in Miocene andesitic volcaniclastics. The Project hosts several advanced high-sulphidation and low-sulphidation epithermal gold-copper targets, including the previously mined Sinivit deposit and the Kavasuki vein system.

In addition, porphyry Cu-Au targets at Magiabe and Mt Regess have now been confirmed as high priority targets through the MobileMT survey.

Phase I Drill Program

Zenex Drilling has been contracted to provide equipment and drilling services to Wild Dog. A dual purpose (RC-Diamond) rig was mobilized to site in late April and has begun drilling in the Sinivit target area with hole WDG-01. The drill pads for the first eight holes have been fully constructed and drill ready. The first few holes will be targeting the sulphide mineralization below the historic oxide mining pits, near surface with open-pit potential. Historic drilling indicates a mineralized structure 6-10 meters in width, 15-20 meters below surface.

The Phase I program, running from May through August, 2025, consists of 16 diamond drill holes for a total target of 2,500 meters. Samples from drilling will be transported to the Intertek Lab in Lae for processing. The Company expects to release ongoing drill results as they are received.

“Following years of under-exploration at Wild Dog, GPAC’s 2025 campaign is planned to be the first modern program to systematically test the full vertical and lateral extent of this system,” said Callum Spink, VP Exploration. “Wild Dog is a rare opportunity: a historic high-grade gold producer in a proven belt, now being tested with modern techniques and deep geophysics for the first time.”

 

The official press release and figures can be found HERE

May 12, 2025

Prime Minister Hon. James Marape has announced a key Cabinet reshuffle, following the swearing-in of Hon. Peter Isoaimo, Member for Kairuku, as the new Minister for Energy. Minister Isoaimo replaces Kerema MP Hon. Thomas Opa, who has been appointed as Minister for Finance, while outgoing Finance Minister Hon. Miki Kaeok retains his Transport portfolio. Prime Minister Marape thanked Minister Kaeok for his tenure at Finance

Speaking after the swearing-in ceremony at Government House, Prime Minister Marape praised Mr Isoaimo as a seasoned leader and dedicated member of the government coalition, noting his long political service since entering the National Parliament in the 9th Parliament through a by-election and his earlier years in the Central Provincial Assembly.

“Minister Isoaimo has been a loyal and humble servant of this government,” Prime Minister Marape said. “He brings with him a wealth of experience, having previously served as Vice Minister for Works and Highways, and has consistently demonstrated patience, loyalty, and sincerity—qualities we value as we build the next generation of Papua New Guinean leadership.”

Mr Isoaimo’s appointment also restores Cabinet representation for Central Province following the departure of Hon. Walter Schnaubelt, National Alliance Party leader, who moved to serve as Governor of New Ireland Province. PM Marape acknowledged the continued partnership with the National Alliance Party, a coalition partner of Pangu Pati since 2019.

“We are keeping faith with the coalition arrangement. This was not just about politics—it was the right choice based on experience, region, and merit,” said PM Marape.

The Prime Minister emphasised the growing importance of Central Province in the national energy and development agenda, pointing to strategic projects including Papua LNG, the Wildebeest gas fields, and the reopening of Tolukuma Gold Mine. He highlighted the underutilised agricultural land across Central and Gulf provinces as a major frontier for national development.

“Minister Isoaimo’s Kairuku electorate lies between Port Moresby and Gulf, at the heart of emerging LNG, mining, and agricultural corridors. He is well placed to drive the energy portfolio in this critical time,” the Prime Minister added.

On the reshuffle, PM Marape explained that the changes were part of a broader performance review aimed at enhancing service delivery ahead of the 2025 Budget and beyond.

“All departments and ministers are under review,” PM Marape said. “This is about ensuring the right people are in the right portfolios as we head into our 50th anniversary and beyond. We’re doing this for the country—not for our districts or friends.”

Incoming Finance Minister Hon. Thomas Opa was praised for his integrity and capability. Mr Marape, himself a former Finance Minister, urged him to maintain strict financial discipline and ensure that public funds are managed transparently and effectively.

In his first remarks as Energy Minister, Hon. Peter Isoaimo thanked the Prime Minister and the coalition for his elevation.

“I did not see this coming,” Mr Isoaimo said. “But I am humbled by the trust placed in me. I thank the National Alliance Party and Governor Walter Schnaubelt for their confidence, and I pledge to serve the government and our people to the best of my ability.”

Minister Isoaimo reiterated his commitment to the Marape-Rosso Government and the national development agenda, expressing readiness to support the country’s energy ambitions.

“God bless Papua New Guinea,” he said. “This is a proud moment for me and the people of Kairuku.”

May 12, 2025

Prime Minister Hon. James Marape today announced that the National Executive Council (NEC) has approved the appointment of Ms. Seline Leo-Lohia as the Trade Commission of Papua New Guinea to the Republic of Indonesia.

Prime Minister Marape said this was a very strategic appointment. “Papua New Guinea and Indonesia are close neighbors but are yet to fully explore the possibilities of our cooperation. For the last 49 years our focus has been on border and security talks annually. These have not led to improvement of our border facilities, direct shipping links, creation of jobs, or significant export between our two countries. It is time PNG develops a strong, deep, and robust relationship with Indonesia in realising the potential of both countries in trade and investment, and appointment of Ms. Leo-Lohia is the start of the shift in focus to the commercial dimension of our relationship with Indonesia. Ms. Leo-Lohia will be the direct link between the private sector of our two countries and the PNG-Indonesia Business Council,” said Prime Minister Marape.

Prime Minister further highlighted the need for PNG to partner Indonesia which is the now the world’s fourth most populous national, the largest economy in Southeast Asia, and the seventh largest in terms of purchasing power parity.

“Indonesia’s economic base has shifted from the primary sector to secondary and tertiary industries and strengthening its position in downstream processing and adding value in manufacturing, trade, and services. The country’s transition from primary production to tertiary production is also aided by the establishment of economic zones. Indonesia now has 118 Industrial Parks, 15 SEZs, 4 Free Trade Zones and 10 Tourism Zones and these economic zones contributed significantly to the government’s policy on downstream processing and value addition of its natural resources.”

“Indonesia is a global player in mining, including the extraction of oil and natural gas being a key contributor to Indonesia’s GDP. Indonesia has ranked among the world’s third largest coal and nickel producers. Downstream processing has been relatively successful- thousands of jobs have been created, higher-value skills have been transferred, and advanced technological and economic processes have been brought to Indonesia. The nickel SEZ alone created 80,000 jobs and 12,000 indirect jobs at Weda Bay – only one SEZ created more jobs than the jobs created by entire PNG mining and petroleum industry”

Prime Minister Marape said: “PNG has immense potential with abundant natural resources in mining, petroleum, agriculture, fisheries, forestry and services for downstream processing value addition respectively. There is no better place to learn from than Indonesia which has already mastered this approach.

“The most valuable lesson PNG can learn from Indonesia is how they have mastered downstream processing and value addition, and how we can implement similar strategies in PNG. We do not have to look far- Indonesia, our closest neighbor has successfully navigated this path and is now a formidable player on the global stage. They are willing to share their experience and expertise, and we must stand ready to learn from them and collaborate with them. With the appointment of our Trade Commissioner, we are also looking at attracting serious Indonesian investment into PNG,” added Prime Minister Marape.

May 12, 2025

Prime Minister Hon. James Marape has extended his congratulations to the Board, management, and workforce of Ok Tedi Mining Ltd (OTML) for achieving a record K1.85 billion in revenue during the first quarter of 2025, delivering K681 million in net profit after tax.

“This exceptional result is a testament to what Papua New Guineans can accomplish when entrusted with the stewardship of our natural resources,” said Prime Minister Marape. “Ok Tedi, being 100% nationally owned, embodies our vision of resource nationalism and demonstrates how revenue and profits can flow back to our landowners, provinces, and the national budget.”

Prime Minister Marape recalled that one of his first provincial visits after taking office in 2019 was to Western Province, where he issued clear policy direction for OTML to extend its mine life and improve operational efficiency.

“I am pleased the management team took our policy direction seriously. The extension of Ok Tedi’s life to 2050 is a direct result of those early decisions. We now see the benefits through increased output and financial returns,” he said.

OTML has projected it will generate over K40 billion in benefits over the next 26 years, which includes dividends, royalties, taxes, and compensation payments. Prime Minister Marape welcomed these figures, saying they reinforce the strategic importance of OTML to national development. “This revenue — and more importantly, the profit — is what we can use to build schools, fund hospitals, and support rural development. OTML is truly our flagship mine,” the Prime Minister said.

He also reaffirmed the Government’s support for the ongoing Community Mine Continuation Agreement (CMCA) review, emphasising the importance of securing social licence and ensuring benefits continue to reach landowners and impacted communities.

“The extension of the mine must not come at the cost of our environment or the rights of our people. I am assured that environmental and social standards are being elevated under the current management,” he said.

Looking to the future, Prime Minister Marape reiterated his government’s broader vision to turn the Tabubil-Kiunga corridor into a diversified economic zone through downstream processing, agriculture, training institutions, and renewable energy initiatives.

“In fact, I have directed Kumul Minerals Holdings Ltd (KMHL) to explore establishing a new subsidiary that brings together PNG’s own mining professionals to run mines domestically or export their services abroad. OTML’s performance proves that we can run our own mining enterprises – and do it well.”

He also highlighted the importance of critical infrastructure investment to support OTML’s future operations and open new economic frontiers.

“The Government’s Connect PNG initiative is playing a vital role in de-risking business operations. The new road corridor linking Western Province to the Indonesian border is expected to be completed by the end of this year. We are also opening access from Kiunga to the Aiambak deep-water port and establishing connections to the Highlands Highway. These projects will help safeguard mine operations during dry weather and unlock commercial opportunities for the region,” he stated.

“Such infrastructure not only supports Ok Tedi’s logistics and supply chains, but also strengthens the long-term commercial viability of Western Province as a trade and investment hub.”

May 12, 2025

Steamships is pleased to announce the appointment of Mr. Emmanuel Auru as the new Group Legal Counsel. With over 16 years of experience across competition law, mergers and acquisitions, banking and finance, and economic regulation, Emmanuel joins Steamships from Westpac (PNG) where he held the position of Head of Legal & Company Secretary.

“After an extensive search, we are delighted to be welcoming Emmanuel to the team,” said Managing Director Chris Daniells “He is joining at a particularly exciting time for Steamships as the company positions itself for a sustained period of growth with a multitude of projects on the horizon. Emmanuel has a wide range of experience working across both the Public and Private sectors and is a great fit for the business. He will play a key role in supporting our ambitions for the future.”

Earlier in his career, Emmanuel held various senior management roles at the ICCC and international law firm Allens Linklaters, where he assisted the PNG competition regulator in undertaking competition law legislative reforms, SOE reforms and market studies. Some of his notable projects include ExxonMobil’s acquisition of InterOil assets in 2016, the restructure of Telikom PNG Ltd, Bmobile PNG Ltd and DataCo PNG Ltd in 2017, and the merger between Santos Ltd and Oil Search in 2021.

“Steamships, to me, is a generational company with a long and proud history of building and serving Papua New Guinea and its people. It’s a household name in PNG that my grand parents, parents and I grew up depending and relying on, and on the eve of PNG’s 50th Independence, I am honoured and privileged to be part of the Steamships company and continue its legacy of contributing to the development and prosperity of PNG, and her people for over 100 years,” said Emmanuel Auru.

Emmanuel holds a master’s degree from Melbourne University, a Bachelor of Law from University of Papua New Guinea and post graduate certifications from the PNG National Research Institute, the Merger Training Institute of London, and the Australian National University.

Outside of his career in Law, Emmanuel was a successful sportsman, representing Papua New Guinea in rugby union and won a bronze medal in the 2007 South Pacific Games, and is currently a Judiciary Member of Capital Rugby Union, Port Moresby (since 2017) and World Rugby Union Citing Commissioner (since 2022).

May 12, 2025

Port Moresby will soon be a key regional transit hub linking Asia and the Pacific following the recent inaugural flight of China Southern Airlines from the capital city of Papua New Guinea on 29th April 2025, government officials said.

National Capital District Governor Hon. Powes Parkop welcomed the Marape-Rosso Government’s support for the launch of China Southern’s new route connecting its home hub of Guangzhou to Port Moresby and Port Vila in Vanuatu. 

Parkop commended Prime Minister James Marape for his leadership and commitment to formalising Fifth Freedom Rights, which enable smooth transit for passengers traveling between PNG and Vanuatu.

The flight follows years of negotiations that began in 2019 between PNG and Vanuatu.

To celebrate the launch, a delegation from Vanuatu, including its former Prime Minister and current Leader of Government Business Charlot Salwai, visited Port Moresby.

During their visit, the delegation met with Prime Minister Marape and his officials to discuss efforts to strengthen this new partnership with China Southern Airlines.

Governor Parkop emphasized the importance of the Framework Agreement on Economic and Technical Cooperation signed in 2024, which reinforces collaboration between PNG and Vanuatu across multiple sectors.

It also follows the signing last year of the sister city agreement between Port Moresby and Port Vila.

“This is a proud and strategic moment for Port Moresby. It fully aligns with our vision to make Port Moresby a tourist hub and gateway. It also reflects our capital’s growing role in fostering regional connectivity and opens new doors for trade, and investment apart from tourism,” Parkop said.

“This airline route strengthens our historical ties and economic partnerships and enhance the sister city relationship between Port Moresby and Port Vila.”

“Port Moresby is rising to meet its potential as the true gateway to Asia and the Pacific,” he said.

Governor Parkop also announced that he has already commenced discussions with China Eastern Airlines for flights to PNG either from Nanjing or Shanghai.

He expressed optimism that this connection could provide more opportunities between PNG, the Pacific, and China, by linking to major cities such as Shanghai, Nanjing, and other urban centers in Eastern China.

May 12, 2025

The Pacific Tourism Organisation (SPTO), in collaboration with the Papua New Guinea Tourism Promotion Authority (PNGTPA), has released PNG’s first Business Confidence Index (BCI) report this month.

This report offers valuable insights into the country’s business outlook and tourism sector recovery, providing a crucial tool for evidence-based policymaking and enhanced private sector engagement. It also signals the start of a data-driven approach to tourism development and recovery in PNG.

The findings are set to inform future planning, guide strategic investment, and support initiatives to strengthen businesses across the sector, the organizations said in a statement.

The collaboration between SPTO and PNGTPA “shows a shared commitment to building an inclusive and dynamic tourism industry.”

PNG is one of ten Pacific Island countries participating in the Pacific Tourism Data Initiative (PTDI), joining the Cook Islands, Niue, Kiribati, Samoa, Vanuatu, Tonga, Solomon Islands, Timor-Leste, and FSM-Yap.

Funded by the New Zealand Government, the PTDI plays a pivotal role in reinforcing regional tourism strategies through high-quality data collection and research.

The initiative encompasses several key surveys, including the bi-annual International Visitor Survey (IVS), the annual Business Confidence Index (BCI), and the annual Community Attitude Survey (CAS).

The BCI survey was conducted over a four-month period from November 2024 to February 2025. It gathered 299 responses, of which 206 were deemed valid for analysis.

The success of this nationwide effort is credited to the strong partnership between SPTO and PNGTPA, who worked collaboratively to engage businesses across all four of PNG's regions: Southern, Momase, Highlands, and Islands.

SPTO Chief Executive Officer Christopher Cocker commended the partnership, stating: “This achievement reflects the strong leadership of PNGTPA.”

“Their close connection with the local business community and focus on data-driven planning were key to collecting valuable insights that will help shape the future of tourism in Papua New Guinea.”

The survey primarily targeted tourism-related businesses in line with its objective of gauging recovery and confidence within the sector.

As a result, 62% of respondents were from tourism enterprises, while the remaining 38% represented diverse sectors such as real estate, healthcare, media, engineering, and events management.

The survey revealed that 90% of the participating businesses were PNG-owned, underscoring the local ownership and involvement in the economy. Geographically, 52% of surveyed businesses were in the Southern region, with 25% each in the Momase and Islands regions, and 22% in the Highlands.

Revenue data showed a wide range of business sizes and financial outputs. Large tourism businesses reported an average annual revenue of PGK 10.3 million, whereas micro-enterprises recorded average revenues of PGK 15,594.

Expenditure analysis indicated that businesses allocated 33% of costs to labour, 37% to inventory, and 31% to other operating expenses. Importantly, nearly half (47%) of goods and services used by these businesses were sourced locally, with the remaining 53% imported.

Despite facing a range of operational and economic challenges, many businesses expressed cautious optimism about the future.

About 59% of respondents indicated that they were actively hiring, though constraints around workforce availability (40%), recruitment challenges (33%), and financial limitations (19%) were identified as key barriers.

Broader systemic issues such as security concerns (21%), inadequate infrastructure (19%), and limited government support (10%) were also highlighted.

In terms of growth potential, many businesses pointed to several opportunities: 19% cited growing visitor demand, 16% saw promise in strategic partnerships, 15% aimed to expand their operations, and 14% emphasized the need for stronger government support to facilitate growth.

PNGTPA CEO Eric Mossman Uvovo welcomed the report and praised the collaborative effort behind it.

“The BCI report is an important step forward in understanding the real-time challenges and opportunities our businesses face. We thank SPTO for its technical leadership and are proud to have partnered in this effort,” Uvovo said.

“This collaboration reflects our shared commitment to shaping a resilient, inclusive, and data-driven tourism sector for PNG.”

SPTO CEO Mr. Cocker said: “The Business Confidence Index is a key part of the New Zealand-funded Pacific Tourism Data Initiative, designed to capture local perspectives and guide tourism development that truly reflects community needs.

“We sincerely thank NZMFAT for funding this important survey, the PNGTPA team for their strong collaboration, and the businesses that contributed their time and insights.”

May 12, 2025

St Barbara Limited (ASX: SBM) has announced the results of its Simberi Process Plant Layout and Design AACE Class 4 Study (“Plant Study”), which confirms the strong economic potential of its Simberi Expansion Project in Papua New Guinea.

The update given on 30 April this year, after the plant study, also includes revised Mineral Resource and Ore Reserve estimates that support a significantly enhanced Life of Mine Plan (LOMP).

Managing Director and CEO Andrew Strelein described the findings as clear validation of the company’s strategy.

“Our current work shows a project with significantly higher production averaging 220 kozpa over eight years, a lower operating cost and a mine life extending to 13 years without including any exploration targets,” CEO Strelein said.

“At an assumed gold price of only US$2500/oz that delivers a Post-Tax NPV (8%) of US$717 million and a Post-Tax IRR of 62%.”

“Our focus now is on the completion of the Feasibility Study to support a Financial Investment Decision, which we are targeting for H1 FY 2026. In the meantime, we continue to advance early works to allow a seamless transition into full-scale development,” he added.

The new LOMP outlines average gold production of 220,000 ounces per annum over eight years, with total production reaching 2.2 million ounces between Fiscal Years 2026 (FY26) and 2038 (FY38).

The mine’s life now extends to 13 years based solely on Proved and Probable Ore Reserves, excluding any exploration upside, the company said.

The project’s economic case is compelling, with a post-tax Net Present Value (NPV) of US$717 million and an internal rate of return (IRR) of 62%, based on a conservative gold price of US$2,500/oz, St. Barbara said.

Key Highlights of the Expansion Plan include:

  • Annual gold output: Expected to ramp up from approximately 90,000 oz in FY27 to over 220,000 oz from FY28 onward.
  • All-in Sustaining Cost (AISC): Forecasted to decrease to US$1,200–$1,300/oz from FY29 to FY36.
  • Initial capital investment: Estimated at US$235 million over FY26–FY28, with an additional US$48 million in pre-expansion growth capital.
  • Ore Reserves: Updated to 2.61 Moz of gold and 4.68 Moz of silver, with a new silver Ore Reserve reported for the first time.
  • Project infrastructure: Includes a new 5.8MW ball mill, a flotation circuit for sulphide processing, a new wharf to support concentrate shipment, and expanded power generation.

 

The Plant Study, completed by Pitch Black Group, confirms the technical readiness of the project and outlines a transition from oxide to sulphide ore processing using flotation to produce a gold concentrate.

St. Barbara has already initiated early works, including camp expansion, new haul roads, and detailed engineering for the process plant upgrades.

The final investment decision or FID is anticipated in late Q2 or early Q3 of FY2026, pending the resolution of an ongoing tax assessment with PNG authorities. Meanwhile, long-lead items such as the ball mill and environmental compliance efforts are progressing, the company added.

The expanded LOMP estimates a total capital spend of US$458 million, including sustaining and closure costs, with robust sensitivity to gold price upside, potentially exceeding US$1.1 billion in post-tax NPV at US$3,000/oz, it said.

Further updates are expected upon completion of the Feasibility Study and progression toward project financing, the company said.

May 12, 2025

The Mineral Resources Development Company (MRDC) is committed to making more investments in Western Province.

MRDC managing director and chief executive officer Mr Augustine Mano said investments will be made in sectors that can give a better return.

He made the commitment while speaking during the opening of the second CMCA review working committee discussions held at the Hilton Hotel in Port Moresby that ended yesterday.  

MRDC looks after project benefits for the beneficiaries that come from the Ok Tedi Mining project held in trust by its three subsidiaries, Mineral Resources Ok Tedi 2 (MROT2), Mineral Resources Star Mountain (MRSM) and CMCA Holdings Limited.

“We will invest back into the province, in the sectors that can give a better return,” Mr Mano said.

“We are dedicated to diligent investment management and remain highly confident in the continued growth and value of the assets entrusted to us.

“We will ensure the expansion of local investment within Western Province to create tangible benefits on the ground.”

The five-day CMCA review was hosted by the Ok Tedi Mining Limited and was attended by all stakeholders including the MRDC as the landowner trustee company. 

MRDC has maintained a strong and active presence throughout the CMCA review process.

Last year, MRDC senior management team actively attended the review sessions held in Daru, Kiunga, and Tabubil, underscoring the significance of this process.

In his speech, Mr Mano also highlighted the importance of having a coordinating agency to channel funds to beneficiaries.

He said if consolidated, there would be quite a lot of money going into the province for infrastructure alone.

“If you look at the funds that are going to Western Province on infrastructure alone, and if you consolidate them, that’s a lot of money.

“If you put OTML the tax credit scheme, the SSGs (Special Support Grants), royalty, PNG SDP and the DDA funds, you put all of them under one basket, you’re dealing with the same people.”

Mr Mano said these are funds that needs to be coordinated.

“All we need is a coordinating agency to channel these funds to the beneficiaries and then develop and move on.

“That is one area in this forum to address. There’s an agency to coordinate so it goes to all the beneficiaries in the province. So, once you have the infrastructure, then you can expect investment to come, employment to be created, and you can see changes.”

May 08, 2025

Thirty-five professionals from various testing laboratories across Papua New Guinea have been awarded certificates after successfully completing a fourday training on the International Standard ISO/IEC 17025:2017 – general requirements for the competence of testing and calibration of laboratories.

The training was conducted at the Crown Hotel in Port Moresby from April 28 to May 1st and was facilitated by the PNG Laboratory Accreditation Scheme under the National Institute of Standards and Industrial Technology (NISIT).

The course focused on core aspects of ISO/IEC 17025:2017, including internal audit practices, method validation and verification, and the principles of measurement uncertainty.

The objective was to equip participants with the skills and knowledge needed to implement and maintain robust quality management systems that ensure laboratory accuracy, consistency, and impartiality in testing and Accreditation.

The course was facilitated by Mr. Wai Yin Lawrance Wong, an experienced trainer based in Australia. Mr. Wong holds a Bachelor of Science with Honours in Chemistry and a Master of Science in Environmental Management from the University of Hong Kong. He is the founder of 1A Accreditation and Quality Consultant, established in 2022, and provides consultancy and training services on ISO/IEC 17025 to laboratories worldwide.

Mr. Wong previously worked for the National Association of Testing Authorities (NATA), Australia, for 17 years as a Senior Accreditation Specialist. He also served as a Technical Assessor for the Hong Kong Laboratory Accreditation Scheme (HOKLAS) for over a decade. Before that, he was a laboratory manager overseeing one of Hong Kong’s most advanced environmental testing facilities at the Chemical Waste Treatment Centre.

NISIT’s newly appointed Acting Director, Mr. Joe Panga, congratulated all participants and encouraged them to apply the knowledge gained to strengthen practices within their respective organisations.

“After this training, you can now return to your organizations with greater confidence, enhanced skillsets, and the ability to mentor others—creating a ripple effect of competence and growth across your respective fields,” Mr. Panga said.

“You have now gained a clear understanding of how to properly conduct testing, calibrations, and measurements. You have learned about internationally accepted best practices that can improve your ability to deliver precise and reliable results.

“These days, we’ve lost touch with our cultural values, and that influences how we conduct ourselves at work. We must uphold honesty, respect, and high standards to raise the quality of our work. Challenges are inevitable, but how we address them defines our success. At NISIT, we aim to set a benchmark to become the best standards authority in the Pacific.”

Mr. Panga also commended Mr. Wong, stating, “Through our international affiliations, we’re able to bring in experts like Mr. Wong who possess deep knowledge and experience. Their insights are invaluable to our development.”

Participants in the training came from various organizations, including:

  • Coffee Industry Corporation Limited,
  • Fresh Produce Development Agency
  • World Health Organisation
  • Oktedi Mining Limited
  • ACEM Geotechnical Engineers
  • Department of Works – Mt Hagen
  • NATS – National Analytic Testing Service
  • OTML – Environment Chemistry Lab
  • Morobe Consolidated Goldfields Ltd
  • Ramu Nico Management (Mill) Ltd •
  • National Department of Health
  • SP Brewery (Heineken)
  • National Fisheries Authority
  • Intertek Commodities
  • Water PNG
  • National Agriculture Research Institute
  • GS Gold Trade & Export Ltd

One participant, Mr. Larson Kitao from the National Fisheries Authority and a member of the Testing Laboratories Accreditation Board (TLBAB), said:

“The training was insightful and essential in aligning our practices with international standards. I commend NISIT for organizing such a well-structured and informative session.”

On a broader scale, the training supports PNGLAS and the country’s goals of:

  • Strengthening technical infrastructure
  • Promoting trust in national testing systems
  • Boosting the country’s scientific and industrial credibility

May 05, 2025

With only three months to go, the Australian and PNG resources industries are gearing up for PNG Industrial and Mining Resources Exhibition and Conference’s long-awaited return.

Over two full days, the Stanley Hotel in Port Moresby will be transformed into a hub of networking, thought leadership and professional development.

Alongside the crowded exhibition floor, visitors will have the opportunity to sharpen their industry knowledge and gain valuable insights at the comprehensive conference.

The two-day conference will feature experts from across the PNG and Australian mining and resources sectors presenting on challenges and opportunities for the local industry.

Some of the key topics that will be discussed include fuel and renewable energy, keeping up community relations and the significance of community development agreements, the importance of building and maintaining safer workspaces, and more.

The conference will also explore key case studies of explorers and suppliers who have gone the distance in PNG, as well as unpacking some of the key takeaways from past and present projects in the country.

Marketing manager of mining events at Prime Creative Media, Rebecca Todesco, said that the conference will offer an opportunity for delegates to learn about project developments and the latest trends across the sector.

“The aim is to bring together individuals with shared interests or expertise to share their  expertise about the industry and potentially collaborate on specific topics or projects.”

“We’re working closely with the PNG Mining team to deliver a conference program that will help our delegates stay informed and aware of industry advancements,” she said.

“It’s our hope that everyone will be able to take away something new they’ve learned from the conference and share it with their workplace.”

PNG Industrial and Mining Resources Exhibition and Conference will be held at the Stanley Hotel from 2-3 July. Secure your tickets before 30 April to lock in early bird prices: pngexpo.com/get-involved/

May 05, 2025

A total of 48 Community Mine Continuation Agreement (CMCA) leaders representing the eight CMCA Regions and the six (6) Mine Area Villages (MAV) of Ok Tedi Mining Limited (OTML) converged in Port Moresby for the CMCA Extension Review Working Group Meeting 2 (WGM2).

Five delegates from each CMCA Region—comprising regional representatives, women presidents, and youth presidents—along with eight representatives from the six MAV’s will engage directly with OTML and key stakeholders to progress negotiations on the revised CMCA package.

The successful completion of the WGM2 will pave the way for the next phase of regional consultations and agreement finalisation.

The primary objectives of the WGM2 include:

  • Providing CMCA leaders with a direct briefing from national and provincial leadership;
  • Ensure transparency around the CMCA Package Commitment through wider stakeholder participations;
  • Review the draft agreement with guidance from the Legal Team;
  • Present the CMCA Regions’ consolidated counteroffer to Ok Tedi Mining Limited (OTML) and stakeholders;
  • Receive OTML’s feedback on the counteroffer;
  • Reach agreement on the CMCA Revised Package.

OTML Managing Director & Chief Executive Officer, Kedi Ilimbit, said the key aspect of the CMCA Extension Review is ensuring the Free Prior Informed Consent (FPIC) process is followed.

Mr Ilimbit said, “We have come a long way to finally have this WGM2 in Port Moresby, to ensure all stakeholders are in attendance to hear the issues and concerns raised, the discussions that will be carried out and provide feedback at the closing of the WGM2 next week. We are honoured to have the Honourable Prime Minister James Marape and the Minister for State Owned Enterprises William Duma attend as well as our Western Province Governor, members of parliament and provincial government representatives.”

PM Marape said he had heard the concerns raised and will respond to the process at the end of the Working Group Meeting.

“The CMCA Extension Review process began in 2024 starting off with Village Meetings in all 158 CMCA Villages, two Regional Meetings (RM) hosted separately throughout the year in Tabubil, Kiunga, and Daru simultaneously, and then the WGM1 in Tabubil. This year OTML began the CMCA Extension Review process with the third RM3 and followed now by the WGM2.”

“Following the WGM2, RM4 will take place, followed by WGM3, where a new compensation package and CMCA agreement is expected to be finalized by August 2025, followed by village-level endorsements of the package in October. The final engagement, RM5, will conclude the process and a new CMCA Agreement (enacted as the 12th Supplemental Agreement) signed.

“OTML operates on a social license granted by the communities through the CMCA Extension Agreement (11th Supplemental Agreement). As a responsible and transparent company, OTML ensures that communities provide FPIC for any agreements that it enters with OTML,” said Mr. Ilimbit.

“The revised and agreed to CMCA will secure a renewed social license for OTML to operate while driving socio-economic development in Western Province and Papua New Guinea,” added Mr Ilimbit.

May 05, 2025

After 50 years of being rent collectors of our fisheries resources, Papua New Guinea (PNG) will finally have its own cannery which will be constructed starting this year, says the Minister for International Trade and Investment, Hon. Richard Maru.

“This new cannery will be developed under a new joint venture (JV) company which will be 50% owned by the State and 50% by RD, with initial expertise to be provided by RD to help us transition from being a rent collector to being an owner of initially a cannery and later a fishing company,” said Minister Maru.

The Chairman of RD Group, Mr. Roy Rivera, and his management team have arrived from their Headquarters in the Philippines for the signing of the Memorandum of Understanding (MOU) between RD, the State and Kumul Consolidated Holdings Limited (KCHL) for the development of a state-of-the-art cannery with processing capacity of 300-metric tons per day in Madang.

Minister Maru said: “This will be the first time that PNG will own a cannery. It is estimated that the construction of the cannery itself will cost K160 million. This will be jointly funded by RD and the KCHL who will hold the shares on behalf of State. Each party will provide K80 million each. The new cannery will be owned and operated by a new fishing company which will be called “Kumul Fisheries Limited” under a joint venture between RD and the KCHL. Kumul Fisheries Limited will have its own brand and will market its products globally under the new brand. The Board of this new company will have members from both PNG and RD. The management will initially be from RD, but over the next five years, all the positions will be localized.”

It is planned that after the signing of the MOU on Friday next week and the endorsement of the design of the new cannery, a new Shareholder Agreement will be signed between the State and RD for the construction to start immediately.

“The tender documents for the construction of the new cannery will be ready after the signing of the MOU. The construction will take up to 18 months. About 500 people will be employed during the construction phase and over 5,000 will be employed once the cannery is completed and is in operation,” said Minister Maru.

Minister Maru further stated: “The immediate task of the new cannery is to assist the country to replace all canned fish imports by producing enough canned fish in our cannery to supply the local market. Although PNG catches between 600-700 metric tons of fish every year, 80% leaves the country to be processed offshore because we do not have processing facilities. As a result, PNG is still importing canned fish from all over the world. It is ridiculous that we export 35,000 tons of canned tuna and import 40,000 tons, and we are losing up to 100,000 jobs and over K4 billion in revenue by not processing all our fish in PNG. We are waiting for the National Fisheries Authority (NFA) to come up with the new Domestication Policy so over the next five years we will process 100% of our catch in PNG.”

“The building of this new cannery in Madang is the start of a deliberate attempt by our Government to invest in downstream processing so we can replace all canned fish imports from other countries. This cannery is the anchor investment needed for the proposed Madang Integrated Special Economic Zone (SEZ). This is a very exciting development and we all look forward to the signing of the MOU next Friday,” added Minister Maru.

Chairman Rivera said: “I am emotional and excited for this project. My Late father built the first cannery in Madang 29 years ago, and as his son who succeeded him as the Chairman of the RD Group, I now have the privilege to build the second cannery, but this time in partnership with the PNG Government."

Governor for Madang, Hon. Ramsey Pariwa, had also been very supportive and excited about this project. He said: “We, the people of Madang, have waited so long for the PMIZ project to eventuate. It is finally happening after 15 years of wait. I want to thank RD Group for willing to partner in this new cannery venture in Madang.”

Out of its 50% equity in the JV, the KCHL will reallocate 5% equity to the Madang Provincial Government and 2.5% each to the Madang DDA and Sumkar DDA.

Meanwhile, the Department of International Trade and Investment will be putting out a notice next week for Expression of Interest from the private sector to build a new international wharf and also power and water supply, and sewerage in the proposed Madang Integrated SEZ under a Build-Own-Operate-Transfer model.

May 05, 2025

South Pacific Metals Corp. is pleased to announce new exploration work programs are underway at the Anga Project, following surface geochemistry targeting results confirming the Irinke Prospect’s priority nature and identifying several new gold prospects extensional to Irinke. Surface sampling will assist with prioritized drill targeting.

Cathy Fitzgerald, President and Chief Geologist of the Company, stated, “As the Company awaits delivery of its brand-new drill rig, we are accelerating exploration across our highly prospective Kainantu Gold District projects. In particular, the new study of all surface samples collected to date at the Anga Project has revealed further exciting targets near our Irinke Prospect, where mineralization of the same nature as K92’s Arakompa system returned rock samples up to 3.68 g/t Au. We will be very active sampling across this broad area of gold-mineralization.”

ALS Geoanalytics Advanced Technology Targeting Results

The Company engaged ALS Geoanalytics to complete a geochemical study of all soil, stream sediment and rock samples (including historic data) to provide a deeper understanding of geochemical indicators for discovery at the Anga Project. This work has confirmed the K92 Mining Arakompa-like geochemical signature of the Irinke target, providing vectors to further mineralized areas as well as identifying new prospects warranting on-the-ground follow up now underway.

Irinke Prospect

The Irinke Prospect is located only 1,500 m east of K92 Mining’s processing plant and is approximately three km along strike from the Arakompa discovery. Previous work by the Company has identified gold in soil anomalism along with rock chips, from early-stage reconnaissance up to 3.68 g/t Au (see news release dated November 13, 2024). The Irinke Prospect is hosted in metasediments intruded by diorite, making it a comparable setting to K92 Mining’s operations. Analyses of the geophysics indicates alteration and major structures are also similar. The results of this work provide additional confidence that the surface anomalism at Irinke is linked to a significant target (refer to Figure 2, target areas A, B, & C in the Irinke prospect region). Upcoming surface work will include closely spaced soil sampling and structural mapping.

Figure 2: Target Areas at Irinke and Extensions on the Anga Project

Binano North (Irinke Extension to NE)

The Binano North Prospect is located approximately 1 km east of Irinke. Both metasediments and series of intrusive dykes are mapped in this area and there are strong indicators of hydrothermal activity. Previous work has been reconnaissance rock sampling with modest anomalous rock chips of up to 0.8 g/t Au. The pathfinder elements through this area (Bi-Sb-Te-Ag-Mo-Cu-Zn-Pb) are strong.

A review of aerial imagery indicated several disturbed areas which may be artisanal or alluvial gold workings, to be determined pending on-ground investigation. This target area incorporates three targets covering an area of 2.5 km by 1 km, from which the Company has collected approximately 250 grid soil samples at 50×50 m spacing to advance this large system to potentially drill ready Upcoming surface work will include closely-spaced soil sampling, and structural mapping (refer to Figure 2, target areas H, G & M).

Golkona and Golkona South (Irinke Extensions East)

The Golkona Prospect is located approximately 4 km east of Irinke. The area includes a large altered intrusive complex anomalous in gold in soils (>10 ppb Au, up to 70 ppb Au) over an area approximately 750 x 750 m (refer to Figure 2). The prospect area is located on a major NE-SW structure that can be linked through geophysical and topography analyses through to the Maniape vein system owned by K92 Mining. The work by ALS Geoanalytics indicates the Golkona area is near a mineral system with structural indicators to the south and a strong association to Cu-Mo pathfinder elements (refer to Figure 2).

The Golkona South area consists of a strong magnetic anomaly coincident with an apparent conductivity anomaly (referred to as the N1 anomaly in news release dated June 9, 2022), identified in the 2021 MobileMT survey. This area has been largely unsampled. Anomalous stream sediment sample results and alluvial gold in this area has not been followed up since sampling was initially completed in 2022. With the results of analysis at Golkona indicating that mineral indicators point southward, the Company is embarking on a ridge and spur soil sampling and rock chip sampling program in this region.

Other Targets

A number of other targets have been identified that warrant upcoming surface work which will include closely spaced soil sampling and structural mapping. These include:

  • North Ridge Target (L) – has Au soil results up to 90 ppb and rock results up to 0.85 g/t Au. Prior to infill sampling, the area is going to have reconnaissance to check several unsampled outcrops.
  • East Skarn Target (P) – An area of very high gold in soils (up to 330 ppb Au and 270pb Au) in an area mapped as metamorphosed carbonates. The geology and geochemical data suggest a possible gold-rich skarn target. Further reconnaissance work with mapping and rock sampling is planned in the short-term.

About the Anga Project

The Anga Gold-Copper Project comprises 461 km² of 100%-owned exploration licenses in the highly gold-copper mineralized Kainantu Gold District. The project is located immediately northeast of, and adjacent to, K92’s Kainantu Gold Mine Project (see Figure 3), and its southwestern project boundary is only 3 km from where K92 is currently drilling on the Arakompa lode-gold vein system, where multiple wide and high-grade gold zones have been intercepted. Access to the Anga Project is via the Ramu-Markham highway to the northeast.

May 05, 2025

Adyton Resources Corporation is pleased to provide an update on its ongoing drilling activities at its 100% owned Feni Island project.

HIGHLIGHTS

  • The first batch of Feni drill samples have been prepared for dispatch to Intertek laboratory.
  • The first barge resupply of fuel and other items at Feni demonstrated the ease of access for resupply by large existing coastal supply barges.
  • At Adyton’s Feni Island project, approximately 90 local jobs have been created, providing employment opportunities in areas with limited job prospects.

The current drill program is focused on the Kabang Prospect in order to twin select holes and assay for copper from holes previously drilled with no copper assays enabling copper to be included in the future MRE, whilst at the same time targeting open extensions and high-grade gold zones proximal to the current MRE.

Tim Crossley, Chief Executive Officer stated:

“Significant progress is being made at the 100% owned Feni Island project, with our drill programme now well underway and first batch of drill samples already dispatched to the Laboratory in Lae, PNG’s second largest city. It is also pleasing to note that approximately 90 new direct local jobs have been created along with several local businesses benefiting from the projects activities. Of course, it goes without saying that none of this activity would have been possible without the support from our local stakeholders and in particular the Feni Island Landowners.”

Background

The Adyton projects are located in PNG on easily accessible island locations. Feni Island is part of the Tabar to Feni island chain which also hosts the operating gold mines of Simbiri (8 M oz) and Lihir (87 M oz) while Feni hosts a foundation resource of 1.45 M oz Au. To the southeast of Feni on Bougainville Island lies the giant Panguna deposit (23 Moz Au, 6.3 Mt Cu).

The Current Drill Program

Adyton began its drilling campaign at Feni Island targets in February of 2025. Two diamond drill rigs were deployed at site (i.e. Kabang). The focus of this program has been:

  • A number of historical holes will be twinned in order to provide copper assays for input into an updated MRE. Evidence from Adyton drill holes, which were assayed for gold and copper, indicates inclusion of copper assays in the MRE would positively impact both grade and tonnage of an Au Eq. MRE. Twinned holes will also be taken to deeper target depths to test depth extension of mineralization.
  • Step-out and step-back drill holes will target the strike and depth extensions of mineralization which are open in all directions. This includes infill drilling within the existing resource model where historical holes failed to penetrate post-mineralization cover.
  • High grade breccia zones beneath the existing resource are high reward targets. A number of deeper holes (approx. 400 m) will target these zones.

Copper Potential

Feni Island displays multiple Lihir-style gold and copper targets. On the island, there is a central caldera complex that occurs within a NW-SE (TLTF parallel) trending pull-apart basin with low magnetic response. Within the Caldera complex the Kabang, Dome, Saddle and Caldera targets are analogous to the structural and geological setting of the Lihir deposits.

High reward gold-copper alkalic-type epithermal targets including Kabang (current MRE of 1.46 Moz Au) and its surrounding extensions (not drill tested), as well as Dome, Saddle and Caldera prospects, as well as high resolution drone geophysical targets.

Not all historical holes were assayed for copper — yet several holes that were assayed for copper returned significant copper assays over large down-hole intervals. Previous drilling by Adyton and explorers prior to Adyton confirmed the presence of near surface gold-copper mineralization and high-grade copper-gold mineralization beneath and proximal to the existing Kabang MRE.

It is notable that neither copper nor Adyton’s successful 2021 drill holes have been included in the current Kabang MRE of 1.46 Moz Au.

The Company notes that it has laid a strong foundation for its work programs across all of its projects and will continue executing these programs at its 100% owned Feni Island project (see Figures 1 and 2).  The near-term focus will be on continuing drilling at Feni Island. The Company will also be receiving and interpreting assay results from all three of its projects as they are received from the Intertek laboratory.

May 05, 2025

On April 23, 2025, The Centre for Excellence in Financial Inclusion (CEFI) and the Papua New Guinea University of Technology (Unitech) formally signed a Memorandum of Understanding (MoU) to establish a Fintech Incubation Centre at Unitech’s campus in Lae.

The new Fintech hub will play an important role in supporting the development and growth of financial technology startups. It will provide mentorship, funding, networking opportunities, and access to industry expertise. The initiative aims to foster innovation within the financial services sector by assisting entrepreneurs to refine their business models, develop products, and navigate regulatory requirements. Furthermore, the hub will facilitate collaboration between fintech startups, the Bank of Papua New Guinea’s regulatory sandbox, and established financial institutions, thereby promoting the integration of new technologies into traditional banking and finance systems.

The overall objective is to accelerate the growth of fintech entrepreneurs and to enhance the broader ecosystem of financial payments and service systems, ultimately expanding financial inclusion across Papua New Guinea.

Unitech Vice-Chancellor, Professor Ora Renagi OL, stated that “learning transforms living standards.” He emphasized that this initiative would empower young IT professionals to develop innovative solutions capable of enhancing a wide range of industries throughout the country.

Professor Renagi further elaborated that the University’s focus on teaching and research, as well as its five-year strategic plan, identifies the establishment of centres for innovation and incubation as a priority. He described the partnership with CEFI to establish the Fintech Incubation Centre as both timely and supportive.

CEFI Acting Executive Director, Mr Peter Samuel, reiterated CEFI’s commitment to advancing financial inclusion by embracing innovation and technology. He noted that the partnership would not only improve financial services but would also create opportunities for students to become self-employed and contribute meaningfully to economic development.

Mr Samuel also highlighted that fintech solutions developed through the Centre would be tested in the Bank of Papua New Guinea’s regulatory sandbox prior to their broader market introduction, ensuring compliance, safety, and effectiveness.

Following the MoU signing, attendees visited the proposed site for the Fintech Incubation Centre, marking a significant step towards realising this transformative vision.

Supporting this initiative are the PNG ICT Cluster and the National Information and Communications Technology Authority (NICTA). Key stakeholders are eager to collaborate to bring transformative changes to the financial services landscape, ensuring that financial systems become more efficient, inclusive, and accessible to individuals in both urban and rural areas.

May 05, 2025

Prime Minister Hon. James Marape has directed the immediate finalisation of the Community Development Agreement (CDA) for the Porgera Mine, calling on all stakeholders to conclude the process without delay so that long- overdue benefits can begin flowing to landowners and the nation.

The CDA forms the final component of the Porgera Project Commencement Agreements, and the Prime Minister has instructed the Minister for Mining, Hon. Rainbo Paita, to lead its completion in close coordination with the Enga Provincial Government, the Mineral Resources Authority (MRA), and affected landowner groups.

“Our landowners have waited long enough,” said Prime Minister Marape. “With gold prices now over US$3,400 per ounce — up from US$1,536 when we signed the new Porgera deal — we must conclude the CDA and protect the mine so benefits reach our people faster.”

Under the new agreement, landowners and Enga Province will receive a 15% equity share (up from 5%) and 3% royalty (up from 2%), with no deductions. Taxes will be paid upfront, ensuring immediate returns. According to the Prime Minister, these changes represent a 300% increase in direct benefits compared to the previous mining arrangement.

“This is the most beneficial benefit-sharing agreement we’ve ever secured as a country since 1975,” he said. “If we protect and preserve the mine, all stakeholders will begin receiving the full benefits—including equity—much sooner than expected.”

To safeguard the project, the Government will begin National Identification (NID) registration of all landowners, enforce a zero-tolerance policy for illegal mining, and implement a comprehensive resettlement plan. New law enforcement infrastructure will include a holding facility in Porgera and the development of Mukumanda Jail, while early investments in roads, law, and justice services are also planned.

“Everyone living or operating in Porgera must do so lawfully. There will be no room for illegal activities around the mine,” the Prime Minister warned. “Trespass will carry serious consequences.”

Prime Minister Marape commended landowner factions for halting conflicts and encouraged continued unity.

“I commend those who’ve chosen peace over conflict. Let’s complete this CDA together—transparently and fairly—for the benefit of all.”

He also acknowledged Barrick Gold and CEO Mark Bristow for honouring the agreement, noting that PNG did not pay any upfront capital to restart the mine, and now holds four board seats in the joint venture company.

“We’ve taken back control. Barrick has supported our equity model with a total of 51% equity for PNG beneficiaries, including the 15% referenced earlier, and the mine is now producing. Now, we must finish the final leg.”

On the Wafi-Golpu project, the Prime Minister said the Government is awaiting formal feedback from Harmony Gold and Newmont Corporation on PNG’s final position. Once confirmed, he will brief stakeholders and landowners accordingly. “We want to deliver the SML at the earliest.”

As Papua New Guinea approaches 50 years of Independence, Prime Minister Marape said these new resource agreements reflect the Take Back PNG agenda in action.

“This is how we define PNG at 50—by securing fairer and better project agreements that put our people first. The future of our nation depends on it. Our nation has a history of project agreements skewed towards investors, and the major policy differences between my coalition and those opposing me are centred on my drive to get more for PNG.”

May 05, 2025

Prime Minister Hon. James Marape has extended his warm congratulations to the people of West New Britain Province on the official groundbreaking of the K51.7 million Hoskins Airport upgrade project under the Civil Aviation Development Investment Project Phase II (CADIP II).

The project — valued at K51,703,909.95 — includes asphalt surfacing, terminal building refurbishment, and associated works, and is being delivered by China Railway Construction Engineering Group with funding support from the Asian Development Bank (ADB) and implementation by the National Airports Corporation (NAC).

Prime Minister Marape said: “This project is a timely and significant development that underscores my government’s commitment to modernising aviation infrastructure across Papua New Guinea. West New Britain is a critical province for our nation — a centre of agriculture, oil palm, forestry, tourism, and home to people from all regions of PNG. This development is a long-overdue recognition of your contribution to the national economy and to our country’s unity.”

While unable to attend in person due to prior commitments in Goroka, Prime Minister Marape said his thoughts were with the people of the province on this proud day “This is your moment. I sincerely thank the Asian Development Bank and the National Airports Corporation for their continued partnership in CADIP Phase II. I urge all our people to embrace and support this infrastructure investment, which will improve travel, stimulate economic growth, and enhance services.”

The Prime Minister also acknowledged the important role of former Minister for  Civil Aviation Hon. Walter Schnaubelt, current Minister Hon. Wake Goi and Provincial MP for West New Britain Hon. Sasindran Muthuvel in ensuring the project reached this stage.

“May God bless the people of West New Britain. I look forward to seeing this development completed and delivering real benefits to your communities,” Prime Minister Marape said.