Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook page The world experts on Special Economic Zones (SEZs) from Japan Development Institute (JDI) together with the local experts and the Ministry and Department of International Trade and Investment are now wrapping up their initial fieldwork of visiting the identified...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook page Kumul Petroleum Holdings Limited (KPHL) signed a Memorandum of Understanding (MOU) recently with the Ministry and the Department of International Trade and Investment to establish a long-term collaborative relationship where KPHL will be the energy solution prov...

Photo credit: Morobe Governor Luther Wenge Facebook page Morobe Governor Luther Wenge has expressed frustration at the slow pace of negotiations regarding the Wafi-Golpu project, a gold-copper mining project worth billions of Kina. According to Wenge, "the provincial government’s position is clear: mining must go ahead. We can sort everything else late...

Photo: Prime Ministers Marape and Rabuka in Suva, Fiji Prime Minister Hon. James Marape says Fiji and Papua New Guinea must work together for the greater good of the Pacific Islands’ family of nations. He said this on Tuesday (February 21, 2023) after a bilateral meeting with Fiji Prime Minister Hon. Sitiveni Rabuka in Suva. PM Rabuka is also Chair ...

K92 Mining Inc. is pleased to announce its latest high-grade results from the ongoing surface and underground diamond drilling of the Kora, Kora South, Judd and Judd South deposits in addition to the Kora Northern Deeps target at the Kainantu Gold Mine in Papua New Guinea. The results for the latest 89 diamond drill holes completed from surface and und...

Photo: Prime Minister Hon. James Marape Prime Minister Hon. James Marape announced recently (Sunday, February 19, 2023) that the economy is looking good with Papua LNG in Gulf to announce its Front-End Engineering Design (FEED) next week and negotiations on Wafi-Golpu Mine in Morobe nearing competition. FEED is the process for conceptual development...

Photo: An empty service station at 8-Mile in Port Moresby after the fuel bowsers ran dry. The Government is now in serious discussions with Kumul Petroleum Holdings Ltd (KPHL) and three multi-national petroleum companies to find solutions for the fuel shortage in the country, with a major announcement expected soon, Prime Minister Hon. James Marape has...

Photo: Prime Ministers Albanese and Marape at Commander’s Beach at Moem Barracks in Wewak last month.- PM’s Office Media Prime Minister Hon. James Marape has welcomed the successful outcomes of the 29th Australia–Papua New Guinea Ministerial Forum which was held in Canberra, Australia, on February 17, 2023 “I welcome the outcomes of the very-success...

Photo credit: International Trade and Investment Ministry of Papua New Guinea The Papua New Guinea-Australia bilateral relations must advance to another level and must be anchored on Trade and Investment relations between the two countries, says the Minister for International and Trade and Investment, Hon Richard Maru. Minister Maru said this during hi...

Photo credit: International Trade and Investment Ministry of Papua New Guinea Facebook page For the first time in over 24 years after approving the Pacific Balance Fund (PBF) and the Pacific Property Trust as Unit Trust Schemes, the Securities Commission of Papua New Guinea (SCPNG) recently approved the Lihirian Investment Fund Unit Trust as a new Unit...

Photo: James Marape The country's lawmakers have unanimously voted in favor of the updated investment law passed by PNG's parliament, specifying the intention to prevent foreigners from operating small businesses that are reserved for locals. This law includes measures to ensure locals remain in control of businesses such as general stores and taxi ...

Papua New Guinea's resource-rich areas are located at some of the most rugged, mountainous, and treacherous terrains, and the designing, building, and maintaining of project site facilities in these resource areas require constant upkeep. The process of creating fabricated units that can be quickly assembled has shifted as developers become more innova...

Photo credit: Twinza Oil Regulatory issues between the Government and Twinza Oil Ltd. need to be addressed before discussions on the Pasca A project in Gulf recommence, Prime Minister James Marape said. In a press conference, Marape stated that Papua New Guinea is governed by the Constitution, and there are laws that regulate the mining and explorat...

Photo: Greg Pawson Kina Bank's CEO, Greg Pawson, has announced plans to expand the bank's presence offshore due to the government's decision to increase tax on banks this year. Pawson described the tax increase from 30 per cent to 45 per cent this year as a "disincentive for growth" and said, "We will be bringing forward our plans for offshore expansio...

Photo credit: PNG Chamber of Mines and Petroleum - Dr Albert Mellam, PhD Credit Corporation Finance Ltd (CCF), a subsidiary of Credit Corporation (PNG) Ltd, has received approval in principle from the Bank of Papua New Guinea (BPNG) for a banking license. According to the chairman of Credit Corporation PNG, Dr. Albert Mellam, "the BPNG offered an appro...

Photo: Dairi Vele The State Negotiation Team chairman, Dairi Vele, has announced that the process of reopening the Porgera gold mine in Enga, which is valued at billions of dollars, is almost complete. In his words, "The new Porgera is substantially complete and is progressing." Vele added that all parties involved are now in the process of verifying t...

Commentary by: Stephen Howes and Alyssa Leng When we think of resource-dependent economies, we normally think of the Middle East, and economies like Saudi Arabia. Where does Papua New Guinea fit in? Data available from the UN allows us to isolate value added in the resources sector from the rest of the economy (resource GDP). The ratio of resource t...

Photo: Managing Director with three awards: International Travel Award-Best Boutique Hotel 2022, World Luxury Hotel Award - Luxury Business Hotel 2022, and Luxe Global Awards-Best Luxury Hotel & Conference Center 2022 Situated at a hilltop haven at the center of Port Moresby overlooking the Seaview of Ela Beach is the remodeled, prestigious, and mo...

Photo: The Prime Minister with government delegates and members of Parliament at the Launching Ceremony Prime Minister Hon. James Marape and Constitutional and Law Reform (CLRC) Chairman Hon. Saki Soloma launched the Constitutional Directive No.4: Review of the Form and System of Government -The Election of the Prime Minister on 15 February at Holiday ...

Photo credit: Wafi Golpu JV The Wafi-Golpu project in Morobe Province could become one of the world's largest copper and gold mines, according to Dairi Vele, the State Negotiation Team chairman. In an interview with a local paper, Vele said that the state is working to ensure that all stakeholders benefit from the US$5.4 billion (K18.5 billion) project...

Photo credit: Kumul Petroleum   Kumul Petroleum Holdings Limited (KPHL) plans to supply LNG from the coast of Huon Gulf district to power the Wafi-Golpu mine project in Bulolo district, Morobe province. The two business models being pursued are the Floating Storage Regasification and Power (FSRP) unit and the Labu Special Economic Zone project, which w...

Photo credit: Geopacific Resources Geopacific Resources Limited is pleased to provide an update on corporate and project activities conducted at the Woodlark Gold Project together with an outline of planned future work programs for 2023. Outcomes from 2022 In February 2022 Geopacific announced suspension of development activities at the Project d...

Photo: 2023 Regional Tourism Consultation Workshop participants made up of the New Guinea Islands tourism industry and the PNG Tourism Promotion Authority.  The Papua New Guinea (PNG) Tourism Promotion Authority (TPA) has commenced a series of regional consultations on the development of a new PNG National Tourism Policy and Marketing Strategy. The ...

The National Superannuation Fund, Nasfund, has continued its partnership with Kalang Advertising Limited, FM100, as naming rights sponsor for the Nasfund FM100 Talkback Program. Nasfund FM100 Talkback, Papua New Guinea’s longest running radio talk show, launched its 2023 Season this morning, with Prime Minister James Marape, State Ministers, and repres...