Ok Tedi Mining Limited (OTML) is pleased to announce its exceptional performance results for Q1 CY2025, showcasing yet another successful quarter of disciplined operational and financial excellence.
OTML is a 100 percent Papua New Guinea (PNG) owned entity with 67 percent direct shareholding by the Independent State of PNG and the people of Western Province holding a 33 percent interest. 100% of the benefits from its operations are distributed to the people of Western Province and the State.
“Our profitability improved significantly in the first quarter compared to a year ago as a result of higher commodity prices and copper sales volumes, we delivered 28,000 copper tonnes, and 74,000 gold ounces and generated revenue of US$460 million (PGK 1.85 billion) demonstrating our focus on disciplined and committed performance and continuous business improvement,” said Kedi Ilimbit, Managing Director and CEO. “We remain committed to our Growth 2050 strategy of balancing value accretive growth with returns to shareholders, and our strong balance sheet and commercial strategy provide us with resilience and the ability to continue to create value amidst market uncertainty.”
With these significant achievements and solid start to the year, we remain committed to deliver to MD & CEO Kedi’s expectation to copy 2024 performance and paste into 2025 and add the extras to meet our full year 2025 guidance, whilst continuing our Growth 2050 strategic path towards ensuring our Vision 2050 is achieved.
Q1 2025 Highlights
First Quarter 2025 Production, Sales and Financial Summary
Growth 2050 Strategy
OTML is steadfastly pursuing its Growth 2050 strategy, which focuses on long-term sustainability, operational excellence, and community benefits. Key initiatives include:
Ok Tedi’s 2025 Guidance
OTML remains on track to meet its previously budgeted 2025 guidance of:
OTML’s Managing Director and CEO, Kedi Ilimbit, stated that “Q1 2025 has been built on from the 2024 performance of resilience, collaboration, and achievement for Ok Tedi. These results reaffirm our commitment to creating value for all stakeholders while upholding our responsibilities to the people of Papua New Guinea and future generations. Our focus on sustainable growth under the Growth 2050 framework ensures that we are well-positioned for the challenges and opportunities that lie ahead.” Mr Ilimbit said, “Our unwavering commitment to responsible mining practices and sustainable development has delivered outstanding outcomes for stakeholders, employees, and the communities in which we operate.”
Islands Petroleum Charity Colour Run 2025 – We Are One
Mark your calendars and join us in spreading colour, unity, and hope across Papua New Guinea!
📅 Event Dates & Locations
• 29 June – Takubar Sports Ground, Kokopo @ 7AM
• 13 July – Sir Ignatius Kilage Stadium, Lae @ 6AM
• 27 July – Sir Hubert Murray Stadium, Port Moresby @ 6AM
This nationwide initiative aims to bring communities together in support of vital health and education services. Proceeds and sponsorships—both in cash and in kind—will benefit:
✅ St. Mary's Hospital, Vunapope (ENB)
✅ Nonga General Hospital (ENBP)
✅ Milford Haven Medical Clinic & Primary School
✅ Port Moresby General Hospital (A&E and O&G Departments)
Together, We Are One. Be a part of something meaningful.
The PNG Customs Service and EastWest Transport (EWT) have signed a Memorandum of Intent (MOI) for the trial implementation of the Trusted Trader Program (TTP) marking a significant step towards securing, streamlining and facilitating legitimate trade in PNG.
The MOI was signed at the PNG Customs Headquarters at Waigani last week by Customs Chief Commissioner David Towe and EWT General Manager Nicholas Bury, enabling EWT to become the third freight forwarder to participate in the program in PNG.
The TTP, also known as the Authorized Economic Operator (AEO) program, has become a flagship Customs-Business partnership in many countries around the world and is a key initiative under the World Customs Organization's (WCO) SAFE Framework of Standards, which outlines standards for securing and facilitating global trade.
Under the program, businesses become recognized as trusted traders by Customs administrations around the world after meeting specific security and compliance standards. Trusted traders typically receive benefits like expedited Customs clearance, reduced inspections and other preferential treatment.
"This program is designed to optimize trade security while allowing for seamless movement of goods across borders, thereby minimizing Customs intervention," Chief Commissioner David Towe stated. "Increased Customs intervention at the border raises the cost of doing business, thus, this program aims to secure trade, reduce Customs intervention, and lower business costs.
"Given the rising cost of goods and services, Customs is seeking ways to alleviate such burdens," the Chief Commissioner added.
The Chief Commissioner said EWT is the third freight forwarder in PNG to participate in the trial program highlighting the importance of public-private partnership in streamlining trade processes. The other two freight forwarders are Express Freight Management and Lae Inland Logistics.
"The journey began in October of 2023 when EWT expressed its' interest in joining the program," Customs Assistant Commissioner Compliance and Procedures Roselyn Tei stated. "Following the request, PNG Customs conducted multiple internal compliance assessments and site validations to ensure EWT's security standards were in compliance with the WCO's SAFE Framework of Standards."
"We appreciate EWT's commitment and the efforts and resources put together to meet our requests and security requirements," the Assistant Commissioner added.
EWT General Manager Nicholas Bury expressed gratitude for the opportunity to join the trial program and emphasized the importance of collaboration between businesses and Government.
"While working in PNG over the years I have witnessed increased engagement with the Customs team and everything said here today has resonated with me," Mr. Bury said. "We are strong believers in working together to deliver efficient and cost-effective services to PNG companies and consumers."
He added that EWT has made significant investments to align with the program's requirements and is committed to passing on the resulting cost savings to the end consumer.
"In a time of increasing cost, programs like this will make a huge difference", he said.
EWT and PNG Customs are eager to continue working together as Customs progress and finalize the legal framework of this program.
Following the engagement of the third freight forwarder under the TTP program, the next plan for PNG Customs is to bring onboard importers and exporters.
Steamships and Tininga Ltd have broke ground on joint venture project, Dobel Central, a mixed-use mega mall which will change the economic landscape of Mt Hagen and Western Highlands. The new, state-of the-art 10,000m2 development will play a critical role in driving progress across agriculture, MSMEs, tourism, and other key sectors in the Highlands region
Dobel Central is a collaborative initiative aimed at creating an inclusive, thriving commercial hub that not only facilitates business growth but also directly empowers local communities through job creation and entrepreneurial opportunities.
“We see this not only as an investment in infrastructure but as an investment in people. Our goal is to create a premium retail and commercial development in the Highlands. One that provides a safe and secure trading environment,” said Steamships Managing Director Chris Daniells in his address on Friday, “it will be an inclusive space that nurtures opportunity—where entrepreneurs can flourish, youth can find employment, and families can benefit from improved access to services and amenities.”
Steamships highlighted the essential role of partnerships in this achievement, particularly with the Western Highlands Provincial Government, whose support has been instrumental in aligning the development with the region’s strategic goals.
Tininga Managing Director Pat Duckworth comments, “Changes in government have brought about a positive shift in law and order, fostering a safer, more positive community. Tininga has its roots firmly implanted in Mt Hagen and together with Steamships, we believed in the potential of the Western Highlands. That belief started with the Hagen Central development in town and today we are proud to take the next step with Dobel Central.”
The capital investment of Dobel Central is worth an approximate K200 million and is expected to deliver expanded retail and commercial spaces, supporting a wide range of local and national businesses while reinforcing Mt. Hagen’s role as the premier service centre for the Highlands Region. The first phase of the mall is on track to open in Q1 2026, and will feature Tininga’s new supermarket alongside stage one of the retail space rollout.
Three legends in Papua New Guinea’s tourism industry were honoured with Lifetime Achievement Awards during the 2025 National Tourism Conference & Expo (NTC) Gala Dinner on April 10 at the Hilton Hotel in Port Moresby.
The recipients included Bob Bates, Proprietor of Trans Niugini Tours; the late Sir Peter Barter, represented by his son Andrew Barter and daughter-in-law Juanita Barter; and the late Max Benjamin, represented by his wife Cecilie Benjamin and son Cheyne Benjamin.
The awards ceremony, which closed the two-day event, celebrated their extraordinary contributions to the development and promotion of tourism in PNG, organizers said.
The Lifetime Achievement Awards were proudly sponsored by the Platinum Sponsor of the National Tourism Conference & Expo, the Mineral Resources Development Company (MRDC) and its subsidiaries.
The awards were jointly presented by the Prime Minister, Hon. James Marape, and the Minister for Tourism, Arts & Culture, Hon. Belden Namah.
An audience of tourism operators, government officials, development partners, and community leaders gathered under the conference theme “Honouring Our Past, Transforming Our Future.”
Bob Bates’ Adventure and Eco-Tourism
Bates was honoured for his more than four decades of dedicated service, becoming a cornerstone of adventure and eco-tourism since his arrival in PNG in the early 1970s.
Through Trans Niugini Tours, he has been promoting cultural authenticity, environmental conservation, and community-based tourism.
Bates established eco-lodges in some of PNG’s most remote and spectacular regions, including Rondon Ridge, Karawari Lodge, and Ambua Lodge, and organized cultural tours and expeditions that have brought PNG’s rich diversity to the global stage.
Bates, upon accepting the award, said: “I thank you all for this honour, although I must say, I’ve still got another 40 years in me, so it’s not quite a ‘lifetime’ yet!”
Chief Executive Officer of the PNG Tourism Promotion Authority (TPA), Eric Mossman Uvovo, commended Mr. Bates for his remarkable contributions.
“Mr Bates is a name that resonates across the tourism industry not just in PNG but internationally. His deep respect for local culture, his investment in sustainable tourism, and his pioneering spirit have inspired generations.”
“On behalf of TPA and the entire tourism family, we extend our heartfelt congratulations and thanks for his dedication to Papua New Guinea,” Mr. Uvovo said.
Barter’s legacy honored
The late Sir Peter Barter’s outstanding legacy was also celebrated during the Gala Dinner with the Lifetime Achievement Award presented to his son Andrew and daughter-in-law Juanita, who accepted the honour on his behalf.
After arriving in PNG in the 1970s, Sir Peter Barter went on to establish Melanesian Tourist Services Ltd, which operated the Melanesian Discoverer expeditionary cruise and the iconic Madang Resort Hotel. His efforts helped position Madang as one of the country's premier tourism destinations.
Beyond his achievements, Sir Peter made profound contributions to national development. He founded the Melanesian Foundation to support community development and was deeply committed to promoting the countries cultural diversity.
As a former Minister for Health and Bougainville Affairs under the Somare Government in the early 2000s, he played a pivotal role in the peace and reconciliation process after the Bougainville Civil War, later serving as Governor of Madang Province.
TPA CEO Uvovo, praised Sir Peter’s enduring influence.
“Sir Peter Barter was not only a pioneer in the tourism industry but a statesman, philanthropist, and a prouder Papua New Guinean than most Papua New Guineans. His efforts extended far beyond economic gain, he championed peace, culture, and inclusive development through tourism,” he said.
“On behalf of TPA, I thank Andrew and Juanita for travelling to Port Moresby to receive this honour. It was a truly special moment,” said Uvovo.
Benjamin deeply rooted in Marine Conservation, Eco-Tourism
The late Max Benjamin was the third recipient of the Lifetime Achievement Award accepted by his wife Cecilie and son Cheyne.
Max Benjamin’s legacy is deeply rooted in PNG’s marine tourism. Arriving in the 1960s, he and Cecilie established the world-renowned Walindi Plantation Resort in Kimbe Bay, West New Britain Province.
Walindi gained international acclaim for its world-class diving, marine conservation efforts, and commitment to sustainable tourism.
Max Benjamin’s vision helped put PNG on the world map for diving and marine eco-tourism. Scientists, divers, and eco-travellers from around the globe were drawn to Kimbe Bay, attracted by its biodiversity and the Benjamins’ tireless work to protect it.
In her acceptance remarks, Cecilie Benjamin also shared a powerful reminder of PNG’s uniqueness.
“A wonderful conference and an award that is a proud achievement for my husband,” said Mrs Benjamin. “Please, never compare Papua New Guinea to anywhere else on earth. This country is unlike any other with its cultures, its biodiversity, and its pristine beauty. There is no place like PNG.”
TPA CEO Uvovo said: “Max Benjamin was more than a resort owner, he was a true champion of eco-tourism, a protector of marine biodiversity, and a mentor to many in our industry. His passion and commitment to Papua New Guinea’s natural beauty and people have left a lasting legacy.
“On behalf of TPA and the tourism sector, we are grateful to Cecilie and Cheyne for travelling to Port Moresby to accept this award in his honour,” he said.
In a region where digital transformation is both a challenge and an opportunity, global payments leader Visa is actively working to bridge the financial gap through inclusive innovation.
In the recent Innovation PNG Conference 2025 in Port Moresby, Visa Country Manager for New Zealand and the Pacific Islands Anthony Watson revealed an ambitious 2030 vision to drive further economic growth in Papua New Guinea.
The vision, Watson said, complements the PNG Government’s goal to connect 70 percent of the population to the internet by 2030.
Visa “supports economic growth in mining, agricultural, forestry and fishing sectors which rely on foreign trade,” he said.
“These are the sectors PNG has a strong reliance on in foreign trade. Therefore, by offering a secure digital payment solution that is reliable and fast to move funds between consumers, businesses and government agencies, Visa supports PNG in foreign trade,” he added.
Visa plans to introduce new, low-cost, mobile-based services that help sellers get paid quickly and safely, secure eCommerce services, and enable international money movement for foreign trade services.
To support this vision, strong fraud protection will be critical. In a media release, Visa revealed global investments of over $10 billion over the last five years into technology and innovation to reduce fraud and increase network security.
“This advanced technology, including AI-driven fraud prevention tools, will be critical in protecting PNG consumers against sophisticated threats,” it said.
In an exclusive interview with PNG Business News, Watson shared his strategic vision for Papua New Guinea and the broader Pacific market, painting a compelling picture of a region on the cusp of rapid financial evolution.
Anthony has been with Visa for 15 years, starting in Melbourne, Australia back in 2009. He has held senior roles across Client Services, Product, Sales and Strategy working in several countries in Asia Pacific.
With a background in product development, risk, and digital business operations, Watson has a passion for supporting tech entrepreneurs in developing new businesses models that help support growth in digital commerce and access to financial services.
Visa continues to explore opportunities and partnerships in PNG and the wider Pacific region, the Country Manager said.
“The message is clear: a collaborative, forward-thinking, and inclusive digital payments ecosystem is not just a vision, it’s a mission in motion,” he added.
“My role as Country Manager is to develop and execute the market strategies we have. I’m also in charge of our business operations and provide leadership to our team across the markets in which we operate.”
Watson acknowledged the complexity and opportunity in the local market.
“Visa operates in over 200 countries globally. So, we are a very inclusive organisation, taking the needs and considerations of local markets into the types of products and solutions that we've developed,” he said, while highlighting PNG’s unique geographic diversity and the variety of communities that necessitates tailored approaches.
“Our observations have been, there has been a growing population adopting more of mobile technologies, meaning e-wallets become quite interesting. The adoption of internet banking has been strong,” he said, emphasizing the need for small businesses to move away from cash handling.
“Businesses really need to look and see the trends that are occurring globally are moving much more to digital capabilities, including online. Even just the fundamental face-to-face transaction... being able to transact digitally is going to be really important, as we think about the behaviours that are shifting as the younger generation starts to come through.”
Innovation, FinTech, and the PNG Payments Ecosystem
On the role of innovation and financial technology (FinTech) start-ups in PNG’s evolving payments landscape, “there is so much opportunity,” Watson said.
“Particularly as we start to see more of the new technology that's out there converging with payments. That creates an interesting dynamic for start-ups, FinTechs, or young entrepreneurs who are looking at opportunities across the country to solve some fundamental challenges,” he said.
These opportunities extend beyond just small business support, Watson pointed out. He expressed optimism for the FinTech landscape in PNG, but acknowledged that challenges remain.
“It cuts across new consumer experiences, local governments; what they’re doing in terms of disbursements and collections, and even large opportunities like cross-border payments.
“There’s still a lot of work to be done. But being able to pick up those global trends and apply them in a relevant local context is going to be important,” he added.
Mobile and Digital Identity: The Future of Payments
Asked what innovations in the digital payment space excite him the most, Watson didn’t hesitate to answer: “First would be mobile.”
“I’m very excited when we think about PNG’s growth and adoption that’s occurring across mobile infrastructure. I can see an enormous adoption starting to occur over the next decade, particularly on smartphone infrastructure.”
He also highlighted the potential of a digital identity as a “transformative element” and emphasized the need to support small and micro-businesses.
“Where we start to look at digital identity becoming an underlying credential that payments link to for authentication, online shopping, and a bunch of different use cases, that certainly excites me,” he said.
“Solving for the small merchant challenge, how they can collect funds efficiently using low-cost technology, particularly mobile-oriented, is critically important. We have several solutions already deployed globally that we believe are very relevant to the local market context.”
PNG’s Place in the Global Digital Payments Landscape
With experience leading Visa operations in multiple countries, Watson was asked how PNG compares in terms of digital payment evolution.
“Firstly, it’s really difficult to always compare one country specifically to others... They’re all vastly different,” he explained. “But I also see a lot of similarities.”
“Sometimes we overestimate what we can achieve in 12 months, yet we underestimate what we can achieve in 5 to 10. That is an important context when we think about PNG.
“It’s not just about looking at the near-term opportunities; it’s a bit of a marathon. The type of solutions we bring into the market must reflect that.”
Cybersecurity was another major focus
“Fraud, scams, and cyber security are really top of mind. That’s globally, of course, but certainly applies across the Pacific Islands as well. We're using available technology, particularly AI, to help protect consumers, businesses, and governments,” he said.
Finally, he spoke about reinventing the consumer experience.
“There’s such a great opportunity for us to redevelop and rethink the consumer experience across PNG. I think there’s going to be a lot we can do in terms of new experiences and value propositions.”
Watson stressed the importance of constructive regulation in collaboration with regulators and financial institutions in Visa’s engagement to support an inclusive ecosystem.
“Visa as an organisation is in favor of regulation. When it is done correctly and applied in the local market, it creates a nice set of guardrails that allows the industry to move fast,” he said.
“Foreign investors, tech companies, and FinTechs welcome regulation because it provides certainty on what they can expect.”
He added that good regulation leads to positive outcomes.
“We want principle-based outcomes. We need to ensure that it’s not bad regulation that creates a productivity drag on the economy.”
“The role that Visa plays across the country in terms of economic growth is vital, and infrastructure is key to achieving those outcomes. We welcome further engagement with government in support of what they are trying to achieve.”
The Bank of Papua New Guinea (BPNG) has announced its new executive structure as part of its commitment to becoming a modern, digital, and trusted central bank under its recently developed “Vision 2050” strategy.
The announcement follows a detailed and extensive strategy development process over the past two years. Since its establishment in 1973, the Bank's role has evolved significantly, and the new structure is designed to meet the changing needs of Papua New Guinea’s people and the global economy.
With this, BPNG aims to leverage local expertise and strengthen the future development of the national banking system.
The Bank confirmed the following executive appointments:
Deputy Governor, Monetary Policy & Financial Operations: Mr. Jeffery Yabom -- Mr. Yabom has over 33 years of experience with the Bank. He holds a Bachelor’s Degree in Economics from the University of Papua New Guinea, a Postgraduate Diploma in Economics, and a Master of Arts in Economics from the University of Manchester in the United Kingdom. Prior to his appointment, he served as the Assistant Governor for the Monetary and Economic Policy Group.
Assistant Governor, Currency Services and Branch Operations Group: Mr. Ron Sikar -- Mr. Sikar joined the Bank in 1988 and holds a Post Graduate Diploma in Banking from Massey University, New Zealand, and a Bachelor’s degree in Commerce from the University of Papua New Guinea. He was previously the Assistant Governor, Corporate Affairs.
Assistant Governor, Financial System Development & Innovation Group: Mr. George Awap -- With over 36 years of experience in Economics and Supervision, Mr. Awap holds a Master’s degree in Economics from the University of New England, Australia. He was formerly the Assistant Governor of the Financial System Stability Group.
Assistant Governor, Financial System Regulations & Supervision Group: Mrs. Sabina Deklin -- Mrs. Deklin has over 24 years of experience in Policy and Supervision with the Bank. She holds a Master’s Degree in Business Administration from Torrens University, Australia. Prior to her appointment, she served as the Head of the Supervision Department and Acting Assistant Governor for the Financial System Regulations and Supervision Group.
Assistant Governor, Monetary & Economic Policy Group: Mrs. Williamina Hubert -- Mrs. Hubert holds a Master’s degree in International Development Economics from the Australian National University. With more than 23 years of work experience in Research and Economics, she was the Acting Assistant Governor for the Monetary and Economic Policy Group before her confirmation.
Assistant Governor, Financial Market Operations Group: Mr. Rowan Rupa -- Mr. Rupa has over 28 years of experience in Economics and Financial Markets. He holds a Post Graduate Diploma in Banking and Finance from Monash University, Australia, and a Bachelor’s degree in Economics from the University of Papua New Guinea. He was previously the Head of Financial Markets Department.
Assistant Governor, Payments & Banking Services Group: Mr. Alfred Napun -- Mr. Napun holds a Master’s degree in Business Administration from Central Queensland University, Australia. With more than 32 years of experience in Audit, Banking, and Payments Systems, he previously served as Manager of the Payments System Department.
Deputy Chief Operating Officer / Acting Chief Operating Officer: Mr. Mairi Mathew -- Mr. Mathew joined the Bank as a graduate in 2006 and has spent the majority of his 18-year career within the Operations group. He holds a Master’s degree in Business Administration from Torrens University, Australia. Prior to his current role, he was Manager of the Human Resources Department.
Future Executive Appointments
The Bank also announced that it is recruiting for additional executive roles, including a second Deputy Governor who will oversee Financial System Stability & Development and a permanent Chief Operating Officer.
New leadership positions such as Chief Risk Officer, Chief Financial Officer, and Chief Audit Officer will also be created to complement the new executive structure.
BPNG emphasized its ongoing commitment to supporting the country's development through a robust financial system. Key priorities include strengthening financial inclusion, creating a modern and responsive payments system, and driving innovation and competition across the financial sector.
The Department of Works and Highways has gone ahead to execute the Connect Papua New Guinea Project, reaffirming the Marape-Rosso government’s commitment to connect the country by main highways and to bring services and opportunities to the rural populace.
Prime Minister Hon. James Marape emphasized that the new roads will serve as crucial links to markets in the National Capital District (NCD) and even overseas, urging the people to prepare to work their land productively.
The official Ground Breaking Ceremony for the Southern Corridor, officiated by Prime Minister Marape at Bereina Station, was co-hosted by Minister for Works and Highways Hon. Solan Mirisim, MP and Member for Telefomin. Vice Minister for Works and Highways Hon. Peter Isoaimo, MP and Member for Kairuku was also present on April 23.
High-ranking government officials were also present -- the Minister for Planning Hon. Sir Ano Pala, MP and Member for Rigo; Minister for Provincial Affairs and LLG Hon. Soroi Eoe, MP and Member for Kikori; Minister for Livestock Hon. Seki Agisa, MP and Member for Middle Fly; and Minister for Energy Hon. Thomas Opa, MP and Member for Kerema.
Central Governor Madam Rufina Peter, MP, and Gulf Governor Sir Chris Haiveta, MP, were also present.
Key contract awards for the Southern Corridor development along the Hiritano Highway are as follows:
Redevelopment of Route 600: Hiritano Highway
These announcements come on the back of another development, the Redevelopment of Route 600.
This is a massive road project undertaken after a 30-year maintenance drought along this important highway, linking Gulf Provincial capital Kerema town with Central Province and Port Moresby.
The Hiritano Highway is notably listed as highway number 001 out of the 16 national highways in PNG, according to the Works Road Asset Management records.
PM Marape led the groundbreaking for this redevelopment on April 17 at Bereina Station in the Kairuku District of Central Province. Both Gulf Governor Hon. Sir Chris Haiveta and Central Governor Hon. Rufina Peter were also present to support the initiative.
Department of Works and Highways Secretary Mr. Gibson Ali Holemba, in his introductory remarks, confirmed the two new major road maintenance contracts:
Mr. Holemba also said the Laloki to Brown River contract, valued at K148 Million and awarded to Hebou Construction Limited, had been awarded earlier but is currently subject to a court battle.
The project forms part of the government's broader Connect PNG initiative, aimed at achieving economic independence through substantial investments in critical infrastructure.
By empowering local contractors with projects ranging from K50 million to K300 million, the government has turned small and medium enterprises (SMEs) into multimillion-dollar entities, thus fostering economic growth, resilience, and creating thousands of jobs.
The Hiritano Highway aims to connect communities, stimulate trade, and unlock the economic potential of underdeveloped regions.
As the northern region increasingly connects with the southern region, the government anticipates a rise in vehicle movement, cargo transportation, and a boost in business and trade opportunities.
The Hiritano Highway redevelopment sets a foundational pace as the nation looks forward to the connection of Lae (Morobe Province) to Kerema (Gulf Province) through the Trans–National Highway, anticipated to be completed by September this year.
A highlight of the groundbreaking ceremony was the emphasis on the K300-million investment into the rehabilitation of the Hiritano Highway and a strong call to action for roadside communities and the people of Gulf and Central provinces.
Prime Minister Marape encouraged citizens to mobilize their land, register it for commercial agriculture, tourism, and business activities, and to avoid complacency. He stressed the importance of working the vast lands to earn a living and participate actively in the country’s economic growth.
Magi Highway Missing Link Road
Meanwhile, the Magi Highway Missing Link Road was officially opened on April 15, connecting Central and Milne Bay Provinces -- realizing a vision that dates back more than 50 years since the country gained independence.
The road is expected to transform landlocked areas into agricultural and tourism hotspots, supporting the government's vision of elevating the nation into a middle-income country.
The Department of Works and Highways, through these projects, continues to ensure that the benefits of infrastructure reach every corner of PNG.
Papua New Guinea and the Pacific Island countries and territories are on the frontline of climate and biodiversity loss impacts.
“Your voices are decisive to push for higher climate ambition, adaptation solutions and also financial promises,” said Virginie Bleitrach, AFD’s Regional Director Pacific Ocean, during the inaugural Green Finance Summit 2025 in Port Moresby.
“We share your concerns that international climate finance (including the commitment made at COP29) will not be enough to address all the needs for climate mitigation and adaptation,” Bleitrach said.
“There is indeed a need to transform financial systems worldwide and for all actors, both public and private, to work together to enable the true mobilisation of trillions in support of green economies.
“That is precisely the essence of what we humbly strive for at AFD. As a public development bank, we strongly believe that there is an urgent need to leverage all financial flows, public and private, towards the Sustainable Development Goals (SDGs).”
She applauded BPNG's efforts, stating: "This gathering is the first of its kind in Papua New Guinea, but also in the Pacific region. I wish to warmly congratulate the Bank of Papua New Guinea for stepping into the adventure of developing a full green finance set of policies and tools."
PNG reinforced its leadership in sustainable development across the Pacific with the successful hosting of the event, organized by the Green Finance Centre (GFC) under the auspices of the Central Bank of Papua New Guinea (BPNG).
It brought together a powerful coalition of government leaders, development partners, financial institutions, and international organizations.
The Summit, held on March 24, gathered senior government officials from the Treasury, Energy, Agriculture, Labor, Forestry, and Environment sectors and Government Ministries of PNG.
Attendees included leaders from Agence Française de Développement (AFD), Asian Development Bank (ADB), International Finance Corporation (IFC) of the World Bank Group, International Monetary Fund (IMF), New Zealand’s Ministry of Foreign Affairs and Trade (MFAT), United Nations Development Program (UNDP), United Nations Capital Development Fund (UNCDF), Alliance for Financial Inclusion (AFI), Global Green Growth Institute (GGGI), and commercial banks including Bank South Pacific (BSP), Kina Bank, ANZ PNG, MiBank, and Mama Bank.
Several significant announcements and agreements were made, marking tangible progress towards PNG’s sustainable finance objectives.
AFD committed to supporting the development of key green finance instruments, including the Green Refinancing Facility (GRF) and the Green Guarantee Facility (GGF), aimed at mobilizing capital and de-risking green investments.
An agreement from ADB to inject USD 20 million into the two facilities, in collaboration with AFD, UNCDF, GFC, and BPNG, bolstered the commitment.
These partners will work with local financial institutions to co-develop a pipeline of green and blue loans, forming the backbone of blended green finance and unlocking access to finance for Micro, Small, and Medium-Sized Enterprises (MSMEs) in Papua New Guinea.
Bleitrach emphasized the importance of systemic transformation. "Systemic transformation is needed, from green taxonomies to innovative financial products and mainstreaming climate risk. We look forward to working hand-in-hand with you all to build climate-resilient, low-carbon financial ecosystems across the Pacific."
The Department of Treasury reaffirmed its commitment to co-develop sustainable finance solutions in partnership with BPNG and GFC, tailored to align with PNG’s National Development Priorities.
The Minister for Energy, Hon. Thomas Opa, pledged to mobilize capital for renewable energy projects through GFC’s platform, underlining the critical role of green finance in the country's energy transition.
The Ministry of Energy, BPNG, GFC, and GGGI also confirmed a collaboration to accelerate renewable energy projects. Already, nearly 20 RE initiatives are progressing, alongside efforts to develop carbon credit mechanisms and green bonds, reinforcing PNG’s commitment to sustainable energy development.
Highlighting AFD’s broader mission, Bleitrach said: "Greening the Pacific financial systems requires systemic and transformative programs to address altogether the development of green finance products, regulations, risk management, capacity building and regional cooperation."
She detailed AFD’s climate finance achievements, noting that it had more than doubled its climate finance from €3 billion in 2015 to €7.3 billion in 2024, including one-third for adaptation, and doubled biodiversity financing to reach 1 billion euros in 2023.
“In the meantime, we have scaled up our support to greening the financial system. Between 2015 and 2022, AFD committed more than 5.5bn€ to pursue this ambition, with successful examples for the Caribbean Financial System and the Indian Financial System.
“Our goal is to support financial regulators and supervisors (central banks, ministries of finance and capital market authorities) to scale-up sustainable finance at 3 different levels:
“At strategic and regulatory level, the objective is to increase market transparency on green finance, notably through green finance roadmaps, national green taxonomies and standards of green/sustainable bond issuance.
“At portfolio level, we need to drive assets allocation towards low carbon and resilient investments through the development of green financial products (savings, loans, insurance, etc.), green financial incentives (grant, guarantee, etc.), and access to international green financing (green climate funds; etc.)
“At operational level, the most significant step is to incorporate physical and transition related financial risks into supervisory practice, as well as establish post-disaster financing schemes.”
She added: “The mainstreaming of climate action within commercial banks and public development financial institutions is a long journey, and we are glad to embark on it with you all.
“We have made significant progress already as the Greening Pacific Financial System (GPFS) project was launched exactly a year ago today.
“We will continue the work alongside New Zealand, GGGI and the Bank of PNG to support the implementation of concrete solutions to mainstream finance towards green and blue objectives in PNG and in the Pacific region.”
Launched a year ago by AFD, GGGI, and the Bank of PNG, the GPFS project continues to support the mainstreaming of green and blue finance objectives in PNG and across the Pacific.
It aims to strengthen the capacity of Pacific Central Banks and Public Development Banks (PDBs) to better manage climate risks, mobilize private sector financing, and improve regional cooperation.
"The Green Finance Summit is a historical step in this direction," Bleitrach stated.
"It will foster cooperation among critical stakeholders, central banks, investors, commercial banks, insurers, export credit agencies, private companies, and many international organizations."
The Summit also showcased partnerships with the Fiji Development Bank (FDB) through a portfolio guarantee targeting green and blue development activities, close cooperation with Banque Calédonienne d'Investissement (BCI) in New Caledonia, and SOCREDO in French Polynesia, demonstrating the growing momentum for green finance across the Pacific region.
Bleitrach affirmed AFD’s ongoing commitment and said, "We hope we can humbly help PNG and the Pacific join the global coalitions as we have so much to learn from each other.
“I very much value your participation in this global movement and am looking forward to the fruitful discussions of this first Green Finance Summit for the benefit of the people in PNG."
Genia: Summit an ‘Important Milestone’
BPNG Governor Elizabeth Genia in her opening remarks, highlighted the importance of the event, calling it “an important milestone” as it coincides with the first anniversary of the country’s Green Finance Centre, established in March 2024.
"In just twelve months, we have implemented the Inclusive Green Finance Policy, developed PNG’s first Green Taxonomy, and successfully piloted green finance projects, demonstrating real-world impact," Governor Genia said.
She emphasized that while these achievements mark a solid foundation, the real task now lies in scaling up the country's green finance initiatives.
Governor Genia underscored the urgent threat climate change poses to PNG, citing rising sea levels, extreme weather, and environmental degradation as direct threats to the nation’s communities and economic stability.
However, she said this crisis also presents unique opportunities. "Green Finance allows us to build resilience, create jobs, and unlock new growth opportunities for our economy."
Mobilising Private Sector Investment
Governor Genia pointed out that 90% of green finance investments will need to come from the private sector, making the role of banks, insurers, and investors critical.
She praised the government's efforts to create an "enabling environment" through targeted policy reforms and strategic partnerships, aligning PNG’s actions with global frameworks like the Paris Agreement and the UN Sustainable Development Goals.
The summit also saw the launch of two new initiatives:
Governor Genia also announced that new targeted loan products, including Green and Blue Loans, would soon be available, focusing particularly on SMEs, agriculture, sustainable fisheries, biodiversity conservation, and women-centered enterprises.
"These practical solutions will enable banks, businesses, and communities to direct capital towards impactful climate-resilient and sustainable projects," she said.
For financial instruments, BPNG is pushing forward a broader agenda to strengthen the green finance ecosystem. This includes:
Governor Genia called on the financial and business sectors to lead by example, saying Green Finance in PNG needs “champions, leaders willing to innovate, drive change, and inspire others.”
She also spoke of successes from local pilot projects, saying that PNG has the potential to be a regional leader in Green Finance by collaborating actively with partners such as the SEACEN Centre, AFD, IFC, ADB, UNCDF, and the Global Green Growth Institute (GGGI).
"We have the framework, the partnerships, and the momentum. Now, we need commitment and decisive action. This is our opportunity, our moment to lead."
The former Minister for Mining, Hon. Wake Goi MP, recently issued his final announcement, marking the end of his tenure by confirming the processing of outstanding tenement license applications on April 25.
A total of 38 license applications were approved, with only three applications rejected.
The companies with approved licenses are major industry players like Newcrest Exploration Limited (EL1704), K92 Mining Limited (EL1341), Frieda River Limited (EL1956, EL1957, EL1895), and Lihir Gold Limited (EL485).
Small-scale and individual miners also secured approval.
Three rejected applications were by Zhong Rui Kuang Ye (PNG) Co. Limited (EL2647), Muta Angas (AML142), and Aking Soap (AML591).
The following tenement applications listed are finalized:
OUTSTANDING TENEMENT LICENSE APPLICATIONS PROCESSED DURING THE MINISTERIAL TENURE OF THE FORMER MINISTER FOR MINING, HON. WAKE GOI MP.
No
TENEMENT APPLICANT
LICENSE NUMBER
STATUS
1
Amai Waimayoko
AML 753
APPROVED
2
AML 754
3
MCC Ramu Nickel Limited
EL 2376
4
Newcrest Exploration Limited
EL 1704
5
K92 Mining Limited
EL 1341
6
Cheroh Mining PNG Limited
EL 2396
7
Kainantu Resources Limited (KRL)
EL2558
8
Salt Baker Limited
EL 2822
9
Parson Kabo
ML 304
10
Gnaibo Kaiuk
ML 200
11
Gewasa Tukund
ML 199
12
Denganu Kapukawa
AML 1096
13
Attalus Geasa
ML 178
14
Samuel Atsi
AML 1157
15
Kipson Lane
AML 1167
16
Shalom Mala
ML 174
17
ML 173
18
Wakula Bilebile
ML 243
19
Bulolo Small Scale Mining Corporative Society Ltd
ML 557
20
Rockwell Mining Company Limited
EL 2810
21
EL 2811
22
Tolu Minerals Limited
EL 2780
23
AG Investment Limited
EL 2799
24
Amato Asimi, Kwambiko Aimou & Yatapsa Kaimaeto
ML 419 & ML 427
25
Gamari Lingwaku
ML 1119, ML 1120, ML 11121
26
Moses Monogon
AML 132
27
Joe Barwick
AML 1026
28
John Giasa
AML 1035
29
Api Emmanuel
AML 1098
30
Tolu Minerals
ML 104
31
Zhong Rui Kuang Ye (PNG) Co. Limited
EL 2647
REJECTED
32
Muta Angas
AML 142
33
Aking Soap
AML 591
34
Meka Yamo
ML515
35
Martin Kilimbu
AML 643
36
Lihir Gold Limited
EL 485
37
Frieda River Limited
EL 1957
38
EL 1956
39
EL 1895
40
EL 2662
41
Kumul Investment Limited
EL 2806
In addition, MP Goi confirmed that any remaining matters from his office will be returned accordingly. He also stated that the mining vehicle and all assets related to the Mining Ministry will be officially handed over on April 28.
Minister Goi said, “Settling these matters is important for maintaining good governance, accountability, and transparency in the administration of the mining sector.”
The approved licenses will make way for further exploration and production activities in the country.
MP Goi has encouraged all license holders to begin preparations for their respective work programs and to work in collaboration with the Ministry of Mining, the newly appointed Minister -- Hon. Rainbo Paita -- and the Mineral Resources Authority, further thanking the Marape-Rosso Government for their support.
Prime Minister Hon. James Marape has warned that Papua New Guinea will not be immune from the ripple effects of global economic shocks stemming from recent United States tariff hikes, and has urged the country to remain vigilant as his government monitors and manages the situation.
Prime Minister Marape said today the sweeping tariff increases imposed by the United States on China and other key global economies represent a “tectonic shift in global trade and commerce” that will inevitably have downstream consequences for small, import- dependent nations like Papua New Guinea.
“These are not minor trade adjustments,” the Prime Minister stressed. “This is a major global event. When the world’s number one economy imposes tariffs of over 200 per cent on the number two economy as well as all other economies, the entire global trading system is shaken. While we do not have a significant trade relationship with the United States, we are closely integrated with China, Japan, South Korea, Southeast Asia, Europe, and Australia— economies that are directly impacted.”
Prime Minister Marape said PNG’s Treasury Department, the Central Bank, and his own department are closely monitoring the situation and assessing the potential economic risks, particularly with regard to inflation and the rising cost of goods and services.
“This is a time for our people to understand that there are strong global economic headwinds ahead,” he said. “We must prepare for the possibility of price increases, supply chain disruptions, and investment slowdowns. But we also want to assure the country that we are managing our economy prudently and are focused on our national budget priorities.”
The Prime Minister acknowledged that some impacts may be unavoidable in the short term, but expressed confidence in the medium-to-long-term outlook, citing over US$40 billion worth of resource projects in the pipeline.
“In the next 10 years, we expect nearly $40 billion in foreign direct investments into our country through projects such as Papua LNG, Pasca A, P’nyang LNG, Wafi-Golpu, and potential progress on Frieda River and the Wildebeest LNG in Gulf and Maliu Oil in Central provinces,” he stated.
“These are real projects, with real partners. Pasca and P’nyang are already signed, and Papua LNG is progressing with TotalEnergies and ExxonMobil. Porgera is operating now and we shall close a better project agreement for Wafi-Golpu soon. These developments will underpin our economy for the next two decades and secure long-term economic stability.”
Prime Minister Marape also noted that while global conditions are beyond PNG’s control, the government is staying the course on fiscal consolidation. He added that the 2024 Final Budget Outcome will be released and will show our financial management in 2024 amidst difficult global conditions.
“Unlike many peer economies struggling to attract capital, we have the largest multinationals operating here. Our job is to keep investor confidence high and ensure policy consistency. I am optimistic that despite the challenges of today, the future of Papua New Guinea remains bright,” he said.
The Board of Ok Tedi Mining Limited has endorsed the appointment of Mark Stone as the Board Chairman, effective immediately.
Kumul Minerals Holdings Limited (KMHL) Board Chairman and OTML Board Director, Dr. Ila Temu, made the announcement.
Dr. Temu said Mark J. Stone has over 30 years of experience working in the international mining industry. While his roles have focussed on leading all people aspects of operating a business, his positions as an active member of various executive leadership teams have equipped him with a solid knowledge of the levers for success in a global mining company.
Mark has worked in Australia, PNG, Africa and South, Central & North America in major resource companies such as BHP, MMG, First Quantum and most recently with Ok Tedi Mining Limited. His commodity experience includes coal, copper, gold, silver and manganese.
Mark holds a Bachelor of Commerce degree from the University of Newcastle (Australia) in which he majored in organizational development. He is a member of the Australian Human Resources Institute and the Australasian Institute of Mining & Metallurgy.
Mark has a passion for business success to deliver benefits to stakeholders. He believes in good governance and accountability, a clear vision and unlocking the potential of people to produce outstanding results.
Swire Shipping, a leading shipping company in the Asia-Pacific, today announced that three of its vessels serving the South Pacific have made the switch to B24 and B30 2 nd generation biofuel blends. The voluntary move supports Swire Shipping’s long-term sustainability ambitions and will provide more options to customers looking to reduce their emissions.
The three vessels involved in the biofuel programme are Apia Chief and Tonga Chief on the Pacific Weekly Express (PWX) service running direct calls from Southeast Asia to Papua New Guinea, Solomon Islands, New Caledonia and Fiji, and Kokopo Chief on the East Timor (ETS) service which provides direct service every 10 days between Singapore, Dili, Darwin and Surabaya. The vessels will bunker B24 in Singapore in Q2 2025 enroute to the South Pacific, and subsequently transition to B30.
Swire Shipping’s Chief Executive Officer, Jeremy Sutton, said, “At Swire Shipping, we are committed to reducing our environmental footprint and contributing to a more sustainable future. The island nations of the South Pacific are particularly vulnerable to the impacts of climate change, and this move marks an important step in our ongoing efforts to reduce emissions and support a cleaner, greener shipping industry.”
The biofuel programme brings together Swire Shipping and its sister company, Argent Energy, a waste-based biofuel producer, achieving synergies within the Swire Group to meet the shared goal of delivering sustainable energy solutions to customers. The collaboration includes an agreement with BP, a supplier of biofuel in Singapore, to explore new feedstocks of marine fuel.
Argent Energy’s Chief Executive Officer, Louise Calviou, commented, “This successful biofuel programme highlights what can be achieved through strong international partnerships, all united by the common goal of decarbonisation. It has been especially rewarding to work alongside our sister company and other partners to accelerate the use of waste derived biofuels. We look forward to continuing our collaborative efforts, with sustainability at the centre of all we do.”
With the launch of its biofuel programme, Swire Shipping will also launch a carbon abatement programme, Voyage to Zero, to help customers decarbonise their supply chains. Participating customers will receive certificates of emission savings, verified by an independent third party, towards the reduction of their Scope 3 emissions.
“Swire Shipping has ambitious voluntary targets for reduction of emissions by 2027. The biofuel programme is a significant milestone in our decarbonisation roadmap, and with Voyage to Zero we are able to offer greater support to customers looking to decarbonise their supply chains. In this first year, the impact of the programme will be comparable to removing 2,700 cars from the road,” said Susana Germino, Chief Sustainability & Energy Transition Officer, Swire Shipping.
In August 2024, Swire Shipping conducted a successful 2nd generation biofuel B24 trial which allowed the company to test operational readiness to adopt biofuels on its owned vessels for the long term.
Trukai Industries Limited, in collaboration with key stakeholders including the PNG University of Technology, SunRice Group, and the Government of Papua New Guinea, celebrated the graduation of batches three and four of the Smart Farmer Program on Thursday, April 24, 2025.
The event marks a major milestone in the country’s ambition to grow local rice production and transform agriculture into a key economic driver.
Trukai CEO, Alan Preston, expressed his gratitude during the event. “It’s been a joy to be part of this journey. Each year the program grows, and we find new ways to enrich it, share intellectual property, and help people grow rice for both personal benefit and commercial purposes. So far, it’s been quite successful, but there’s more work to be done to secure a better future for PNG,” said Preston.
He emphasized Trukai’s commitment to Papua New Guinea, stating, “Trukai has been part of the fabric of PNG since 1973. We have been here for a long time and maybe be here for another 50, years even 100 years—because we are truly committed. Today is an example of that commitment, supported by wonderful partners from the PNG Government, our partner universities, the Government of Australia and SunRice Group.”
Vice Chancellor of the PNG University of Technology, Professor Dr Ora Renagi, commended the partnership and emphasized the university’s role in national development. “The success of a university is measured by the success of its graduates. Seeing young men and women equipped with skills to participate in economic growth is satisfying. Our goal is to become a world-class institution and programs like these are key drivers of growth.”
Smart Farmer graduate Cathy Wanpis from Eastern Highlands Province said, “We’ve learnt so much and I believe it will help us become better farmers. I hope this program reaches more people, especially in rural areas.”
Secretary for the Department of Agriculture and Livestock (DAL) Dr Sergi Bang, outlined how the program aligns with PNG’s Medium-Term Development Plan IV. Key targets include:
“The government has set clear goals, and training programs like this help us get there. Trukai’s role is vital, and DAL stands ready to support this initiative through mechanisms like removing import duties on farming equipment,” the Secretary said.
Mr. Brenton Kanowski, from the Australian High Commission, reinforced Australia’s continued support. “PNG is blessed with rich soil. Through strong partnerships we can help smallholder farmers improve skills and productivity.”
The Smart Farmer Program continues to empower local farmers, particularly those in rural areas who make up 80% of PNG’s population. Rice is fast becoming a staple, and Trukai is leading the charge in building a sustainable, locally driven industry.
Following the Smart Farmer Program Graduation, a ground breaking ceremony was held to symbolise Trukai Industries’ expansion of its commercial rice farming.
The company’s farm at Erap, Morobe Province, has long served as the cornerstone of Trukai’s agricultural initiatives. With the expansion of its commercial rice farming, Trukai has projected to carry out this expansion from 100 hectares in 2024 to 200 hectares in 2025 and doubling this expansion each year.
Trukai has already harvested its first locally grown rice, which is blended into its Roots Rice product and now being shared and enjoyed by its consumers across PNG. Through its commercial rice farming, the company aims to contribute meaningfully to the government's vision of a modern and economically viable agriculture sector by 2030.
K92 Mining Ltd. (“K92”), the operator of the Kainantu Gold Mine in Eastern Highlands Province, has reported its strongest first quarter (“Q1”) results to date, with 47,817 ounces gold equivalent (“AuEq”) produced in Q1 2025. The result significantly exceeded budget, marking a 74% increase from Q1 2024 and the second highest quarterly production in the Company’s history.
The strong quarterly results were driven by high-grade stopes from both the Kora and Judd deposits, a positive grade reconciliation compared to the resource model, combined with excellent plant performance. Metallurgical recoveries remained high at 95.8% for gold and 95.1% for copper, both marking the second highest on record. The process plant treated 103,449 tonnes of ore at a head grade of 14.9 grams per tonne AuEq. Underground operations mined 104,052 tonnes of ore, with total material movement reaching 315,182 tonnes, the second highest on record. Additionally, underground lateral development was also strong, setting a new monthly record in March with 954 metres of advance. This was supported by a number of major infrastructure upgrades commissioned earlier in the quarter.
During the quarter, K92 continued to advance its transformative Stage 3 Expansion, which is designed to establish Kainantu as a Tier 1, Mid-Tier Producer. Construction is progressing well, with approximately 75% of the growth capital either spent or committed as at March 31, 2025. The commissioning of the new process plant is scheduled to commence in the second half of Q2 2025.
While investing significant capital in the mine during the quarter, K92 also made a corporate tax payment of PGK 48 million during the quarter. The strong quarterly operational results reinforce K92’s capability to deliver on the upcoming expansions, which will significantly contribute to the economic development of Papua New Guinea while maintaining its commitment to safety, environmental stewardship, and community development.
John Lewins, K92 Mining’s Chief Executive Officer, said, “We are off to a great start in 2025 with our strongest Q1 to date. Operations have continued its momentum coming off a record year in 2024, achieving several records and near-records. As our operation expands and becomes more successful, we are also very proud to contribute to the economic well-being of Papua New Guinea by making yet another corporate tax payment during the quarter. With commissioning of the new 1.2 million tonne per annum process plant set to begin shortly, this is shaping up to be a milestone year for both Kainantu and Papua New Guinea as we move closer to becoming a Tier 1 Mid-Tier gold producer.”
Westpac PNG is proud to announce the return of the Westpac Outstanding Women (WOW) Awards in 2025, after a five-year hiatus. These prestigious awards honor women who are making significant contributions and driving change in their fields.
Since its inception in 2006, the WOW Awards have recognised the remarkable efforts of women who excel in their professions and contribute to the nation's development. Westpac is now calling on individuals to recognise and celebrate the outstanding women making a difference in their communities. The awards highlight achievements in seven main categories: Private Sector, Public Sector, Young Achiever, Entrepreneur, Sustainability, Not-for-Profit, and Sports & Arts Advocate, alongside the most prestigious award, the Westpac Outstanding Woman of the Year.
You can now nominate via the Westpac Outstanding Women Awards webpage on Westpac PNG website.
To ensure the nomination process is accessible to everyone in the community, Westpac will provide a WOW Award information booth at the following branches:
The Westpac team will be onsite to answer questions and assist with the nomination process. This initiative aims to make it easier for community members to submit nominations and celebrate the achievements of exceptional women.
Among the distinguished past awardees is Janet Sios, whose achievements continue to inspire many. Janet, the recipient of the 2015 Not-for-Profit Award, has been a beacon of leadership in the non-profit sector. Her instrumental work in promoting economic empowerment and improving healthcare services has significantly impacted communities across Papua New Guinea. Janet's dedication to uplifting others and her unwavering commitment to social causes exemplify the spirit of resilience and determination that the WOW Awards seek to celebrate.
Speaking about the awards, Janet said, “The WOW Awards shine a spotlight on women who are making real change in their communities and industries. Being part of this recognition is empowering, and I encourage everyone to take the time to nominate a woman who is creating positive change."
Join us in celebrating the outstanding women of Papua New Guinea by submitting your nominations and visiting our WOW Award information booths for support.
The Minister for International Trade and Investment, Hon. Richard Maru, yesterday, opened the Consultation Workshop organized by the Department of International Trade and Investment and the National Trade Office on the total review of the full impact of the new U.S tariff increases.
Minister Maru told the participants from both Government and the private sector to provide input on this assessment of the full impact of the new U.S Tarriff increases to major trading partners including Australia, New Zealand, Fiji, Vanuatu, Papua New Guinea (PNG) and many others.
Minister Maru said: “We must also assess the impact on industries that depend on U.S imports like Air Niugini who mainly import aircraft parts from the U.S. While coffee is one of our major exports to the U.S, can we not replace the U.S market with new markets like Japan and New Zealand instead of depending on the U.S Market? PNG does not impose tariff on services from the U.S and this is one area we need to look at. We also need to look at the Fisheries Access we give to the U.S fishing companies who fish and catch tune in our EEZ under our Bilateral Agreement. This is a good opportunity to look at the totality of our overall trade and investment relationship with the U.S. No stones should be left unturned.”
“The U.S President Donald Trump claims this action is necessary to make U.S great again. There is so much speculation like the U.S President is doing this as a short-term measure to get the stock market to crash so a lot of his fans and supporters can buy stocks at a very cheap prices. Nobody really knows the true intentions behind this U.S decision. Only time will tell whether this is a long-term measure to grow the U.S economy and make U.S great again or it is a short-term measure to achieve some personal agenda.”
Minister Maru further stated: “The actions of the U.S has totally undermined the rules-based multilateral system administered by the World Trade Organization (WTO) which PNG is a member of. The U.S is now bringing in protection not seen and experienced by the world in over 10 years and the world has to decide whether to have US in the WTO family or throw the U.S out while the rest of the world carries on with the rules-based multilateral system.”
Minister Maru also told the participants at the workshop to review PNG’s tariff structure and consider what support the Government should be giving especially the manufacturing industry.
Minister Maru requested a full report of the review including recommendations to be presented to the NEC for the Government to consider.
“I want the review completed before the end of this month,” said Minister Maru.
The 2025 Fiji-PNG Business Mission marked a major milestone in bilateral trade and investment cooperation between Fiji and Papua New Guinea. Hosted by Investment Fiji in March 2025, the mission was led by Fiji’s Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, and focused on deepening economic engagement with one of Fiji’s largest trading partners.
A high-level Fijian delegation, comprising government representatives and over 20 business leaders, engaged with PNG counterparts across Port Moresby and Lae. The mission facilitated direct dialogue with industry leaders and chambers of commerce, and opened doors for strategic joint ventures in sectors such as agribusiness, manufacturing, and services.
Kamikamica highlighted PNG’s economic recovery and growing consumer market as key opportunities for Fijian exporters. In his keynote remarks, he noted that the mission “sends a strong signal that we are serious about expanding Fijian business presence in the Pacific.”
The mission also served to reaffirm the 2014 MSG (Melanesian Spearhead Group) Trade Agreement and explored ways to resolve logistical challenges affecting intra-Pacific trade. Business-to-business (B2B) sessions allowed exporters and investors to discuss customs procedures, financing, and opportunities in PNG’s special economic zones.
For PNG, the mission reinforced Port Moresby’s growing stature as a regional business hub. PNG’s Ministry of International Trade and Investment welcomed the initiative and pledged to streamline regulatory requirements for Fijian businesses seeking to enter the market.
The mission concluded with a joint communiqué committing both sides to work toward a bilateral trade framework and support regional private sector development.
To strengthen the long-standing commitment to education in Papua New Guinea (PNG), ExxonMobil PNG Limited, the operator of the PNG LNG Project, recently handed over seven newly built educational infrastructure projects valued at almost PGK 2 million to the communities of Lealea, Papa, Boera and Porebada, in Central Province.
Lealea and Boera Primary schools together with Papa Junior High School each received a double story classroom while Porebada Primary School got a double story duplex classroom. In addition to the classrooms, Lealea Primary School and Papa Junior High School each got a new staff house, while Porebada Primary School got keys to a brand-new administration building.
“At ExxonMobil, we believe that education drives social and economic development and improves living standards, which is why it has been a long-standing community investment focus area for us,” said Dinesh Sivasamboo, Chairman and Managing Director of ExxonMobil PNG Limited.
“A well-structured learning environment, infused with the right resources and a positive atmosphere,
can be transformative for both students and staff. Infrastructure investments like these clearly demonstrate our partnership with - and ongoing commitment to – PNG and its people,” Sivasamboo said.
In acknowledging the support from ExxonMobil PNG, Mr Taumaku Baru, Board of Management Chairman of Porebada Primary School, encouraged the community to look after the newly built infrastructure.
“I thank ExxonMobil PNG for their continuous support to our schools and community. The challenge comes back to teachers, students and parents on how well we can look after these facilities for the future,” he said.
ExxonMobil PNG’s ongoing investment in education across schools neighbouring the PNG LNG Plant site has also included first aid units, educational programs and computer donations.
Since LNG production commenced in 2014, ExxonMobil PNG has invested more than K18 million in educational initiatives across its project areas ranging from refurbishing and building new school facilities and teacher’s houses, WASH amenities, secure fencing, distribution of SBC textbooks and teacher training materials, stationery support, uniforms and sports equipment.
ExxonMobil recently appointed Dinesh Sivasamboo as its new Chairman and Managing Director of ExxonMobil PNG Limited.
This appointment will be Sivasamboo’s second leadership position with ExxonMobil PNG Limited, having previously served in PNG from 2016 to 2019 as its Vice President for Production.
Sivasamboo has held numerous, global senior leadership positions over the course of his 30-year career at ExxonMobil. Most recently, he held the position of Chairman and President of ExxonMobil Exploration and Production Malaysia Inc. Prior to that role, he was the President and Managing Director of ExxonMobil Kazakhstan Inc., and held positions in Qatar and the United States.
“I am honored to be returning to PNG as Chairman and Managing Director of ExxonMobil PNG Limited. The PNG LNG Project has – through the strength of its partnerships – achieved so much during its first decade,” said Sivasamboo. “I look forward to both leading it into its second decade, as well as building upon its success to help deliver the next phase of LNG projects for this country.”
Sivasamboo becomes the company’s fifth Chairman and Managing Director, joining an esteemed list that includes his immediate predecessor, Tera Shandro, as well as Peter Larden, Andrew Barry and Peter Graham.
The Centre for Excellence in Financial Inclusion (CEFI) and the Western Pacific University (WPU) have signed a landmark Memorandum of Understanding (MoU) to jointly promote entrepreneurship, fintech, financial literacy, and microfinance education in Papua New Guinea (PNG).
The MoU between CEFI and WPU signifies a collaborative effort to advance education, particularly in the realms of entrepreneurship and microfinance, fostering mutual growth and development. The MoU outlines several areas of collaboration, including:
The MoU was officially signed on Friday, April 11, in Mt. Hagen by CEFI’s Acting Executive Director, Mr. Peter Samuel, and WPU President, Dr. Janet Rangou (PhD). This strategic partnership signifies a shared commitment to building human capacity, promoting innovation, and equipping students with practical skills to drive economic growth and financial empowerment across the country.
Speaking at the signing ceremony, Mr. Peter Samuel expressed enthusiasm for the partnership.
“We’re very excited about this collaboration and truly appreciate WPU’s innovative spirit. Attending the graduation today gave us confidence that we are partnering with an institution that shares our mission to empower our people. We look forward to the opportunities this partnership will create.”
In response, Dr. Janet Rangou highlighted the value of the partnership for student development, saying:
“We hope this collaboration will allow us to equip our students with lifelong, practical skills that will serve them and their communities long after graduation.”
Earlier in the day, Mr. Samuel and his team attended Western Pacific University’s inaugural graduation ceremony at its campus in Ialibu, Southern Highlands Province. A total of 99 students graduated in various disciplines, including Certificate in Higher Education, Bachelor of Arts in International Business Management, Bachelor of Science in Computer Networks, and Bachelor of Science in Computer Programming. The event also celebrated the official opening of the WPU’s state-of the art e-Library.
The keynote address was delivered by Hon. Peter O’Neill, Member for Ialibu-Pangia and former Prime Minister of Papua New Guinea. He spoke passionately about the university’s journey since its conception in 2012, noting that its founding idea emerged from the need to bring higher education closer to remote communities.
“This university is a national institution that has grown through both local and international support. It’s not just for the Southern Highlands but for the entire country,” said Mr. O’Neill.
Echoing this sentiment, Southern Highlands Governor Hon. William Powi described the graduation as a historic milestone for the province and the nation.
“While the graduating class may be small, their success marks the beginning of a legacy of educational transformation,” he said. The Governor also announced K68, 000.00 in tuition support and a K1 million contribution toward university infrastructure and services, with potential future investments in student facilities and postal services.
Minister for Higher Education, Research, Science and Technology, Hon. Kinoka Feo, also addressed the ceremony, reaffirming the government’s commitment to expanding higher education in PNG. He highlighted increased budget allocations, the expansion of the Higher Education Loan Program (HELP), and the PESA initiative as examples of national efforts to ensure quality education and accessibility for all.
Minister Feo also acknowledged the contributions of key figures in the establishment of WPU, and the Department of Higher Education, along with other stakeholders who guided the institution through official government processes.
In her remarks, Dr. Janet Rangou paid tribute to several individuals instrumental in WPU’s journey, including the late Sir Peter Barter, Professor Father Jan Czuba, and the former PNG Prime Minister and current Ialibu-Pangia Member Hon. Peter O’Neill , thanking them for their vision, support, and belief in the power of education. She emphasized WPU’s ongoing mission to become a university of choice in PNG and beyond, committed to lasting societal impact.
Dr. Rangou concluded by expressing gratitude to students, staff, partners, and the WPU community, underscoring their collective role in shaping a more educated and inclusive future for Papua New Guinea.
The new National Banking Corporation (NBC) is planning to publicly list its stocks for public purchase as early as next year 2026, with Prime Minister Hon. James Marape calling on Papua New Guineans to prepare themselves in anticipation of this event.
Prime Minister Marape, while launching the new commercial bank on Thursday (10.04.25) evening, urged Papua New Guinea’s superannuation funds, provincial governments, landowner companies, nationally-owned businesses, and individual Papua New Guineans to look forward to the announcement and to buy shares in the bank.
NBC is expecting an Initial Public Offering (IPO) on the Port Moresby Stock Ex- change toward the end of 2026.
Prime Minister Marape said he wants to see 80 percent of NBC owned by Papua New Guineans and Papua New Guinean companies with only 20 percent shareholding remaining with the State, through Kumul Consolidated Holdings “When we offer the IPO, 80 percent must go out to our provincial governments, the Bougainville government, landowner companies, our superfunds, our ordi- nary citizens so our people become shareholders.
“So to all Papua New Guineans, get ready to invest in your bank. Let’s make NBC become the biggest commercial bank in the country. Be ready because I will ring the bell very soon,” he said, adding that provincial governments and their subsidiary companies, especially, must take a keen investment interest in NBC and prepare for the IPO.
Currently, NBC has 10 branches in the country and working to expand to all provinces of PNG, including Bougainville.
NBC is the upscaling of the former People’s Micro Finance bank, which focused on providing microfinance banking services to small income earners and ordinary Papua New Guineans. It was established in 2013.
NBC remains the subsidiary of the National Development Bank, one of the nine State enterprises of PNG.
The expansion into the banking sector is part of the reforms currently under-taken by the Marape-Rosso Government to revitalize State-owned enterprises to become commercially-profitable and better service oriented for the people of Papua New Guinea.
On Thursday, April 10, 2025, Prime Minister Hon. James Marape officially launched Papua New Guinea's newest commercial bank, the National Banking Corporation (NBC), bringing the total number of commercial banks in the country to seven
NBC is the transition from the former People’s Micro Finance Bank, and is a subsidiary of the National Development Bank (NDB) – one of the nine State- owned enterprises of PNG.
The move into the commercial banking sector space is an effort by the Marape-Rosso Government for better financial inclusion covering areas of the country not reached by existing commercial banks, and is part of the extensive reforms of State enterprises currently being undertaken by Government.
A Cabinet decision made in 2022 finally saw the issue of a license by the Bank of PNG in December last year 2024 after a long rigorous process. The launch on Thursday night by the Prime Minister was held at APEC House in Port Moresby before an audience of Members of Parliament, bureaucrats, bankers, superfund reps, business owners, and company directors and managers.
Prime Minister Marape urged NBC to open branches in all 21 provinces including the Special Region of Bougainville within the next five years, while highlighting the need for all Papua New Guineans to easily access banking services because of their landowning status. Currently, the bank has 10 branches through its former status as the People’s Micro Finance Bank.
PM Marape highlighted the potential for the growth of NBC and commercial banks in PNG because of the expanding national economy, which has grown from K79 billion in 2019 to K125 billion in 2024 – the time under his administration– with an upward trajectory toward K200 billion at the turn of the decade.
He also affirmed the growth in the PNG economy by pointing to Bank South Pacific’s declaration of over K900 million profit last year 2024, demonstrating this upward trajectory.
The Prime Minister said despite many challenges including an inherited re- cessed economy and global COVID-19 pandemic under his government, three commercial banks have opened in the last six years – Tisa Bank, Credit Bank and, now, NBC.
“Thank you very much Bank of PNG for the sensitivity to the times we are living in and recognizing the need for the unbanked to be banked, as well as for the banking sector to be reformed.
“The Pangu-led Coalition Government is happy to witness a State-owned enterprise not holding back but partnering in our intention for reform and moving into the right space.
“This bank gives the opportunity to 80 percent of our people who remain on the fringes of our economy, yet are our country’s biggest assets as people who own land and have access to forestry, fisheries, agriculture and some of the richest cultures in the world – the goldmine of tourism. They must be brought into the formal economy,
“NBC must maintain the fiduciary requirement of a bank and at the same time be responsive to the needs of our people.
“I thank the National Banking Corporation board and management, and Kumul Consolidated Holdings for NBC. This is a wonderful gift to our people on the 50th Independence anniversary,” said Prime Minister Marape.
The Prime Minister called on NBC, NDB and KCH to manage the new commercial bank prudently and grow it for the benefit of all Papua New Guineans, and not to repeat the mistakes of the former PNG Banking Corporation.
In a decisive address at the National Agricultural Industry Public-Private Sector Partnership Conference recently, Prime Minister Hon. James Marape, MP, reaffirmed the Government’s commitment to prioritizing agriculture as a cornerstone of national development.
This pivotal gathering underscored the Government’s ongoing efforts to enhance agricultural productivity as a means of sustaining economic growth and improving the livelihoods of Papua New Guineans.
Prime Minister Marape highlighted the significance of the agriculture sector, which has been strategically divided into four vital components: the main Agriculture Department, Coffee, Cocoa, and Oil Palm.
This restructuring aims to refine focus and boost the productivity of these subsets, integral to the nation’s economic framework.
“For four consecutive years, we have witnessed a growth of four percent in the non-resource sector,” PM Marape stated.
“This growth is a testament to the effective harnessing of economic activity and productivity that sustains our people.”
The Prime Minister also addressed graduates in attendance, urging them to leverage their education and communal resources to foster agribusiness initiatives.
“With your wealth of knowledge gained from learning institutions, you can utilize your lands and collaborate with your tribal clansmen to drive business success. This is your opportunity to make a profound impact,” he said.
PM Marape committed to taking the insights and outputs from the conference back to his office to form actionable strategies to further advance the agricultural sector.
He referred to the Government’s price support program launched in 2020, and emphasized the critical need for an established policy mechanism, particularly in light of six years without a robust agricultural structure from the Agriculture Department.
“How can we progress without an established policy mechanism?” he challenged.
Despite the visible improvements in infrastructure, PM Marape expressed concern over lagging productivity levels.
Encouraging the agricultural community, he implored stakeholders to take full advantage of recent legislative changes, including the new income tax act, which offers reductions in taxes and enhanced incentives and tariff measures.
“The government is also establishing access to Asian markets, particularly China, and we are actively working with bilateral partners to enhance food security,” Marape added, highlighting the Administration’s efforts to integrate Papua New Guinea’s agricultural sector into the global market.
In conclusion, the Prime Minister reiterated his belief in agriculture as a vital driver for the nation’s economic future and a key element in enhancing food security and community well-being.
The government remains committed to supporting the agriculture sector and its stakeholders, with a focus on ensuring sustainable growth for generations to come.
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