Tolu Minerals Limited has successfully extended the mineralisation of its Tolukuma gold and silver deposit, announcing strong results from its latest drilling program at the nearby Taula vein system.

Located 4.5 kilometers southeast of the existing Tolukuma gold mine, the exploration effort confirmed high-grade gold and silver intersections, opening up the potential for significant resource expansion and suggesting continuity of mineralisation beyond the proven historically mined Tolukuma ore bodies.

Managing Director and CEO of Tolu Minerals Ltd, Iain Macpherson, expressed his satisfaction with the results, saying the drilling marks a significant step in the company’s strategy to expand the Tolukuma mineral resource estimate and ultimately redevelop the site into a major gold and silver producer.

In an exclusive interview with PNG Business News, Macpherson said: “It is exceptionally pleasing that Tolu has achieved this very important and significant milestone in the execution of the Company’s strategy of leveraging the existing Tolukuma infrastructure and proven operational performance.” 

He said it is also confirmation of the validity of Tolu’s previously released Exploration Target focused on the southern and eastern areas of the mining lease and surrounding exploration license.

Tolu Minerals’ maiden nine-hole diamond drill program at Taula, totalling 638.85 meters, has yielded promising results, particularly from drill holes TDH07 and TDH08.

TDH08 intersected a remarkable 4.80 meters of mineralisation averaging 22.79 grams per tonne (g/t) of gold and 513 g/t of silver, including a standout 1.0-meter section with 61.20 g/t gold and 1979 g/t silver.

These results come from a structural inflexion zone, a key feature previously identified at the Tolukuma mine, suggesting the mineralisation could continue to expand along these zones.

The drilling has extended the known gold and silver mineralisation by over 450 meters at depth and has confirmed that the Taula vein system, which has a surface strike length of over 1,500 meters, remains open to both the North and South.

These results are expected to form the basis for a maiden JORC (Joint Ore Reserves Committee) Resource estimate, with further drilling and evaluation already underway.

Tolu Minerals has used a combination of geophysical surveys and historical data to guide its drilling efforts. The company’s 3D Induced Polarisation (IP) and Airborne Magneto Telluric (AMT) surveys have been instrumental in identifying potential mineralised zones at depths down to in excess of 1,000m.

The recent drilling has confirmed the effectiveness of these surveys in targeting high-grade areas, with results reinforcing the validity of Tolu's exploration models.

Macpherson said, “This program is the first absolute verification that Tolu’s geophysical programs including historical, 3D Induced Polarisation and the more recent Airborne Magneto Telluric survey provide an effective tool for targeted exploration.”

“The small, nine-hole Taula diamond drilling program, utilising our own equipment, planned on a combination of the geophysical results and surface exploration, has defined a further zone of gold mineralisation at depth extending 450m of strike and continuity that is open ended to the North and South.”

“The confirmation of higher grade gold and silver zones along structural inflexion zones is an important indication, as that was an important feature of mining at Tolukuma and supports our model that the mineralisation extends well beyond the historical mining zones.”

The company is now focused on expanding its exploration efforts southward towards the Miliahamba prospect and eastward along the broader Taula and Tolukuma vein systems.

In addition to the drilling at Taula, Tolu Minerals plans further surface exploration, including trench sampling and rock sampling, to map out the full extent of the mineralisation. The company is positioning itself for long-term development and potential production increases. 

“This drilling program has demonstrated strong results extending mineralisation further to the South of Tolukuma mine,” Macpherson said.

“This represents an important milestone as it is the first drilling program out of the ML and having confirmed the geophysical results, it is now a relatively simple exercise to connect the dots to expand the Mineral Resource Estimate Resources that may be exploited by existing infrastructure well into the future,” he said.

Papua New Guinea (PNG) recently completed its Mutual Evaluation review, which began in March 2023 and concluded in September 2024. The Mutual Evaluation Report (MER) was adopted during the Asia Pacific Group (APG) Annual Plenary Meeting in Abu Dhabi, UAE, and published on November 14.

To address the report's findings, a Strategic Implementation Plan (SIP) Workshop and National Coordinating Committee (NCC) Meeting on Anti-Money Laundering and Counter-Terrorist Financing (AML/CTF) were held at APEC Haus in Port Moresby from November 19-22.

The event gathered key government officials, technical experts, and international partners to develop actionable measures that keep PNG off the Financial Action Task Force (FATF) greylist. 

PNG’s AML/CTF Journey 

PNG, a member of the APG, was greylisted in 2014 but successfully exited in 2016.

The NCC on AML/CTF, co-chaired by Dr. Eric Kwa, Secretary for the Department of Justice and Attorney General, and Ms. Elizabeth Genia, Governor of the Bank of Papua New Guinea (BPNG), is determined to avoid a repeat scenario.

With just one year to implement the MER recommendations, the NCC has outlined the SIP to coordinate efforts across 22 government agencies.

International donor partners such as the United Nations Office on Drugs and Crime (UNODC), the Asian Development Bank (ADB), and the Australian Department of Foreign Affairs and Trade (DFAT) will provide technical assistance.

The APG Secretariat will also collaborate with PNG to ensure full implementation of the SIP. 

Workshop Highlights 

The three-day workshop included participants from the APG, donor partners, and key national agencies. Chief Secretary Ivan Pomaleu, OBE, reaffirmed the Marape-Rosso Government’s commitment to improving PNG’s law and justice sectors.

“Our government continues to invest in the law and justice sector to guarantee public safety and foster a secure business environment,” Pomaleu stated.

He emphasized reforms such as restructuring the judiciary with a three-tier system, increasing the number of judges, and advancing anti-corruption laws, including the Whistleblowers Act 2020.

Pomaleu also stressed the urgency of implementing the MER’s recommendations, revealing that FATF’s president had sent a letter to Prime Minister James Marape urging compliance by October 2025 to avoid sanctions.

“There is no room for complacency,” Pomaleu warned as he called for accountability among government agencies and reassured that donor-supported technical resources would be fully utilized to achieve compliance. 

Strengthening the Framework 

BPNG Governor Elizabeth Genia highlighted the critical role of the SIP Workshop in addressing deficiencies in PNG’s AML/CTF framework. She thanked the APG Secretariat and donor partners for their ongoing support and stressed the high stakes of the mission.

“Greylisting has real consequences, including higher borrowing costs, potential trade sanctions, and reputational damage to our financial system,” Genia noted.

She urged swift action to close gaps identified in the MER, emphasizing the lessons learned from PNG’s prior greylisting experience.

Under Genia’s leadership, BPNG pledged to resource the Financial Analysis and Supervision Unit (FASU) adequately to fulfill its oversight responsibilities. She also reaffirmed the bank’s support for the NCC in coordinating national AML/CTF efforts.

“The cost of non-compliance far outweighs the cost of compliance,” Genia warned, underlining the need for decisive action to safeguard PNG’s financial integrity.

Looking Ahead 

The workshop concluded with stakeholders committing to the SIP’s priorities. Over the next year, PNG will focus on enhancing its AML/CTF framework, leveraging donor support, and holding agencies accountable for delivering tangible progress.

Through collaborative efforts, the government aims to demonstrate its dedication to international standards and avoid FATF greylisting.

“Together, and with the leadership of FASU, we will deliver on our commitments,” Genia affirmed.

The year 2025 marks the 50th anniversary of Papua New Guinea's independence, yet significant gaps remain in the provision of healthcare services across the nation, Prime Minister Hon. James Marape said.

Amid the challenges and progress in the country's health sector, Marape emphasised the importance of strengthening primary healthcare as the foundation for a healthier population.

Although a significant portion of the health budget goes to secondary and tertiary care, primary healthcare should be prioritized to reduce the burden on hospitals and improve long-term health outcomes, the Prime Minister said.

“And health is a key sector. I was reminded sometimes back by World Bank that a healthy population and an educated population must also be seen from an economic context. You have a healthy population and an educated population, the economy is assisted in a substantial manner,” Marape said during the 24th National Health Conference from November 11-13 at APEC Haus in Port Moresby.   

The three-day conference focused on improving corporate and clinical governance as essential drivers for achieving Universal Health Coverage in PNG.

During the conference, the Health Medium Term Development Plan II (MTDP II) was launched centered on four documents:

1. NHA (Amendments) Act 2023
2. PHA (Amendments) 2023
3. PHA CEO Regulations 2020
4. PHA Board &Governance Manual

Marape reflected on the country’s healthcare journey since independence, noting a great need for more innovation, resources, and improved governance to address funding shortages, infrastructure gaps, and workforce shortages, particularly in rural areas.

He highlighted the decentralization of health services through Provincial Health Authorities (PHAs) as a key reform to bring healthcare closer to the people, though he expressed frustration that some PHAs have not met reporting standards.

“We must ensure that health services reach every Papua New Guinean, no matter where they live,” he said in reaffirming his government’s commitment to better health.

Marape renewed his support for the National Health Plan 2021–2030, a roadmap aimed at reforming the healthcare system.

The plan focuses on primary healthcare and aims to improve the distribution of the health workforce, enhance medical supply chains, and integrate healthcare with broader social determinants like education and infrastructure. By 2030, Papua New Guinea must have a fully functioning health system, the PM said.

Technical Challenges Hindering Delivery of Health Services

The Secretary for Health, Dr. Osborn Liko, addressed the technical challenges the health sector faces. He acknowledged the significant strides made in health outcomes, including reduced maternal mortality rates and improved child health indicators.

However, he said the country continues to grapple with substantial issues, such as the impact of the COVID-19 pandemic, which exposed weaknesses in emergency response capabilities.

Additionally, the secretary noted the growing burden of non-communicable diseases like diabetes, cardiovascular diseases, and cancer, which remain a pressing concern.

Dr. Liko said the country's healthcare system is underfunded, with government expenditure on health at just 2.1% of GDP—one of the lowest in the Asia-Pacific region.

These financial limitations are most felt in rural areas, where the majority of the population resides, but where only a small proportion of the healthcare workforce is based, he added.

“The lack of efficient funding is most clearly felt in the operational expansion of frontline services, the procurement of essential medicines, and the maintenance of health insurance. Many of our health services do not meet the national standard, and many are poor and needy, understaffed, and lack an essential supply, yet with the health resources we need, what is available must be available.”

"The shortage of health workers is one of our most pressing issues. With just 1.03 health workers per 1,000 people, we have one of the lowest ratios globally. This has a direct impact on the quality of care, particularly in rural and remote areas.”  

To address these challenges, Dr Liko outlined the government's commitment to expanding the healthcare workforce through newly established medical universities and revised curricula, and to strengthen the medical supply chain to ensure that essential medicines and equipment reach all regions, especially those in remote areas.

The health sector and government’s focus aims to ensure the country has the right number of free health workers, particularly in rural areas where the majority of the population lives.

Currently, 87% of PNG’s population lives in the rural areas, but only 10 to 14% of the health workforce live in these areas to provide health services.  

“Further investments need to build a more efficient system that ensures essential medicines and supplies reach the right facilities on time,” Dr. Liko said.

“The underfunding of medicines remains a pressing issue, and we pack up and expand it, and essential medicines to be achieved in just 2-3 kilometres, as compared to US$5.8. Our stock interest was furthest at US$648 per capita, on island at US$600 per capita. This is a gap that we must close.” 

“Despite these challenges, we are taking proactive steps, with clear strategies in place to improve the health of our people.”

The secretary noted the Medium Development Plan 4 (MDP4) reallocates the resources towards primary healthcare, which will allow the Ministry for Health and Government to address the root causes of ill health while reducing the lack of facilities, limited access to clean water, and heavy capacity, and improving the social dynamics of the country.

“This includes rehabilitation of all professional hospitals, as well as specialised reformatting hospitals, and establishing new specialised clinics of cancer and HIV, to level 5 and level 6. At this point, we are working to establish an additional reference laboratory, which will improve our capacity to diagnose and respond to these more quickly and effectively,” Dr Liko added.

Moreover, the Minister for Health, Hon. Elaias Kapavore, called for greater regional cooperation to tackle shared health challenges, saying: “We have the power to make a difference. It requires all of us to work together.”

Participants of the workshop included government agencies and their respective Ministers, Department heads, Provincial Governors, Provincial Administration, 21 PHAs CEOs, PHA Board Chairs, Hospital CEOs, Faith Based Organizations,, Civil Societies, Health Training Institutions, Development Partners, and NDoH senior management team, and Health Sector Agencies staff, totaling to 500 plus attendees.

Prime Minister Hon. James Marape and his ministers of State have recently (19.11.24) met with a business delegation from the United States of America led by US Ambassado to Papua New Guinea, Her Excellency Ann Marie Yastishock.

The delegation is headed by Sarah Morgenthau, Special Representative from the Office of Commerce and Business Affairs of the US State Department’s Bureau of Economic and Business Affairs; and comprised 16 members from the US government and private sector.

The group is in Papua New Guinea to explore and discuss business opportunities between United States and PNG in line with the agenda pushed by Prime Minister Marape to US President Joe Biden’s administration over the recent years to have more American presence in the Pacific, including Papua New Guinea, and to elevate Pacific nations’ relationship with the US from reliance on aid and grants to proper engagement in trade and commerce.

Prime Minister Marape, in welcoming the group to Melanesia Haus and PNG at the meeting, noted the members’ representation of the various sectors in the United States public sector and business community, covering education, defence, mining, business, security and several others; and thanked Ambassador Yastishock for her efforts in facilitating the meeting.

He acknowledged the increased dialogue between PNG and USA through

joint forums held by Pacific Island leaders with the United States under the Biden administration, and said he was looking forward to seeing similar exchanges and level of engagement with the Trump government.

The Prime Minister then continued his advocacy on Papua New Guinea as an ideal investment destination, highlighting its robust democracy and free market economy, its strategic geographical location between the Asia and Pacific regions, and its potential in offering Green Energy as a mitigation strategy to address the current climate crisis.

“Papua New Guinea and the United States of America share the same ideals.

“For us here in the Pacific, Papua New Guinea has a unique role in that we join Asia to the Pacific by land. We value our democracy and our free market economy, and we are situated close to the big markets of Asia. Our potential in the Green Energy space is big with a lot of solar, geothermal and hydro sources available in our country.

“We are currently addressing our challenges, including our Law & Justice sector. Under the Bilateral Security Agreement with Australia, we are reforming and enhancing our policing in the country and region.

“I encourage United States to do business with us,” said Prime Minister Marape while pointing out the government’s initiative, Special Economic Zone, which he offered to the United States business representatives to utilise in their business endeavours.

Ministers who accompanied the Prime Minister at the meeting included Foreign Affairs Minister, Hon. Justin Tkatchenko; Minister for Fisheries, Hon. Jelta Wong; Minister for Tourism Arts and Culture, Hon. Belden Namah; and Minister for Commerce & Industry, Hon. Win Daki.

The Papua New Guinea Chamber of Resources & Energy (PNG CORE) is pleased to announce that for the first time, the Autonomous Bougainville Government (ABG) will feature at the country’s premier international investment event - the 2024 PNG Investment Week.

This will see ABG President Hon. Ishmael Toroama headline a session focused on investment opportunities in the autonomous region.

In officially announcing the ABG’s participation, PNG CORE President Anthony Smaré said willingness of the ABG to take part in PNG Investment Week reaffirmed their commitment to laying the foundation for future economic growth in the Autonomous Region of Bougainville.

“Since PNG CORE’s initial engagement and partnership with the ABG at CANCONEX in 2023, and then at the 2024 PNG Resources Week, the relationship has been one that provided the platform for progress, particularly within the mineral resources sector. However, this relationship is more than mineral resources – this is about broader economic growth. PNG Investment Week will now provide a platform for the ABG to connect with reputable investors, who are willing to venture into the Autonomous Region of Bougainville.”

“President Hon. Toroama is expected to speak on the initiatives that the ABG have taken to promote investment opportunities, particularly for renewable resources through the blue-green economy.

President Toroama will be joined by Acting Chief Secretary Kearneth Nanei, who will provide an overview of the various policies that the public service machinery has undertaken to support international investment into the autonomous region.”

“The ABG Delegation also includes key officials from across the commerce, economic and trade departments, who will be present to provide guidance to investors who are interested in learning more about the regulatory environment on Bougainville.”

“There has been a keen interest from the international community on the developments on Bougainville, and the ABG’s participation at PNG Investment Week is sure to build on this, whilst also providing the opportunity for reputable investors to meet directly with the ABG and its commerce, economic and trade representatives who will be in attendance.”

“PNG Investment Week is an opportunity that the ABG has fully embraced, and with the support of PNG CORE, we believe positive outcomes will be realised as a direct result of the ABG’s participation in this event.”

Registration for the PNG Investment Week is still open, and is available at www.pnginvestmentweek.com.pg

For service suppliers looking to do business in Papua New Guinea, a key understanding of the needs of various operations across the country’s business sector, including its dynamic mineral resources and energy sectors, is critical in informing their business strategy for trading with PNG businesses but also in investing in PNG operations and employing Papua New Guineans.

The inaugural PNG International Suppliers Forum will provide this platform, bringing together close to 200 representatives from a range of industries, for an opportunity to meet with participants from within PNG’s mineral resources and energy sectors.

To take place on Day 1 of PNG Investment Week - Sunday December 8th, 2024 - at the Sydney International Convention Centre, the PNG Suppliers Forum will see these international organizations meet and exchange ideas with PNG project operators in a controlled environment, to enable a better understanding of the project operators.

According to President of PNG Chamber of Resources & Energy (PNG CORE), Anthony Smaré, this decision to have the inaugural PNG International Suppliers Forum regulators open PNG Investment Week was strategic, given that the country was on the verge of welcoming major projects within the resources industry.

“The PNG International Suppliers Forum is a new concept that PNG CORE has adapted, to complement the presentations that take place during PNG Investment Week. This forum facilitates for international suppliers to meet various project operators and major contractors, and discuss directly with respective project procurement leads, to gain a better understanding of the needs of industry in PNG. This also provides an opportunity for PNG landowner companies to gauge the opportunities of potential partnerships with reputable international suppliers, through joint ventures, which promotes local capacity building. This initiative is part of providing better value and support for both our large operators, LandCos and the many international companies which want to supply them services and products. This reinforces our mantra about PNG Investment Week – ‘everybody who matter, in the same place, at the same time, all ready to network and do business’”

“PNG CORE is pleased to announce that all major resource project operators have confirmed to be a part of the PNG International Suppliers Forum, as part of PNG Investment Week.”

“There are also several major international suppliers from across the mineral resources and energy industries who have registered for this event, which is sure to be a gamechanger for industry in PNG.”

“We are confident that from this event, our members will be better placed to make informed decisions on who they engage to provide services to their respective operations.”

Registration for the PNG International Suppliers Forum are is still open, and are available at www.pnginvestmentweek.com.pg

PNG’s flagship investment promotion event, the 2024 PNG Investment Week held in Sydney in early December, is already tracking for a record attendance, with last year’s record figure of 1,300 delegates already exceeded with a month to go.

The event, which takes place from December 6th to 11th in Sydney Australia, will provide a platform for PNG business, International Investors, and Governments from PNG, Australia, New Zealand, and neighboring countries to engage on issues relating to promoting investment and trade between PNG and its international partners.

President of PNG Chamber of Resources & Energy (PNG CORE), Anthony Smaré was extremely pleased with the high number of registered delegates, who represent a cross-section of the economy.

“We made a deliberate decision to reframe the traditional and very successful PNG Minerals and Energy Investment Conference into a PNG Investment Week, made up of a number of various events over the week in Sydney, to use the strength of our resources and energy sector to drive investment into other sectors of the PNG economy and to address key issues that impact investment and trade generally.”

“We are rewarded with the numbers we are seeing in already exceeding last year’s registration numbers with a month to go. I am hoping to exceed 2,000 attendees, and the cross section of speakers and attendees is more diverse and international than previously seen for this event.”

“These delegates are not only from the mineral resources and energy sectors, but also include the renewables, technology, communications, financial services, agriculture and fisheries and attendees from over 20 countries.”

“From an investment standpoint, this event provides the one true opportunity for serious investors to engage meaningfully with government, regulators, and current participants in the economy – this is where all the decision makers gather in one place at the one time.”

“I strongly encourage anyone that has investment and trade ties with PNG, or are interested in investing in PNG, to attend, and network with the business community and government present.”

Delegate registration is still open, and is available at www.pnginvestmentweek.com.pg

Teachers Savings and Loan Society (TISA), headquartered in Port Moresby, is the largest savings and loan society in Papua New Guinea (PNG) and the South Pacific excluding Australia and New Zealand.

Established in 1972, TISA began with a simple yet impactful mission: to provide registered teachers of the Department of Education a safe space to save and help one another during financial hardships.

In its earliest years, the Society had about 3,000 members and a total turnover of 2 million kina per annum.

Over the decades, TISA has transformed significantly in size, books, and influence under the leadership of Group CEO Michael Koisen, who has been at the helm for over 20 years.

Under Michael’s leadership, TISA has transformed from a small local credit union into a key player in PNG’s financial landscape.

Today, it serves over 85,000 members across the public and private sectors, with branches in 17 provinces.

As a group entity, it has diversified its portfolio to include banking, real estate and properties and insurance.

At the heart of TISA’s remarkable growth is its Group CEO, Michael Koisen, who joined the company in 2002, at a time when the organisation was under statutory management, and its books were far from healthy.

With a deep personal commitment to the organisation’s core purpose of improving the lives of ordinary Papua New Guineans, Michael stepped up to the challenge.

He saw an opportunity not only to restore TISA’s financial health, but to build a legacy of service and empowerment for its members.

“I’ve always believed that TISA’s mission isn’t just about financial transactions -- it’s about improving the quality of life for everyday Papua New Guineans,” Michael reflects.

“This is a place where everyday mums and dads - teachers, police officers, solders, nurses, and workers from all walks of life - who need financial support to help them live better lives sort help. That’s why I took on the challenge. I knew it was a huge task, but I felt it was the right thing to do.”

Before stepping in as CEO, Michael had already worked in various capacities within the organisation, gaining invaluable experience in operations, management, and governance.

This experience gave him the insight and understanding needed to lead TISA out of its most difficult period restoring stability and paving the way for future growth.

Under Michael’s leadership, TISA not only survived but thrived.

One of its milestones came when it became the first savings and loan society in the Pacific to offer its members a debit card, the YumiCard. This innovative step made it easier for members to access their funds and manage their finances more effectively.

In another first, TISA transitioned into a commercial bank - TISA Bank in August this year - making it the first homegrown bank in PNG.

TISA Bank now offers a wide range of tailored banking solutions and digital services, further extending its reach and ensuring more Papua New Guineans can access the financial support they need.

Despite these successes, Michael is quick to point out that TISA’s rise has always been about more than just profit.

“Our core belief at TISA has always been service over profit,” Michael says.

“We are focused on making a real difference in the lives of our members, not just on financial returns. We believe that when we prioritise people, everything else will follow. Our members trust us because we stayed true to that purpose.”

This commitment to TISA’s purpose is at the core of Michael’s leadership.

In 2023, under his leadership, TISA become a member of the Global Alliance for Banking on Values (GABV), a network of banks committed to creating positive social and environmental impact through responsible banking.

For Michael, joining GABV was a natural next step for the business.

"Being part of this network aligns with our values and mission," he says.

"We believe that banking should be more than just transactions; it should be a tool for change. Our mission has always been to serve our members and the communities we operate in."

Michael’s vision for TISA goes beyond financial success; it’s about creating a lasting, positive impact on the lives of ordinary Papua New Guineans.

“Profit is essential for sustainability, but it’s never been my primary driver,” he explains.

“I’m committed to understanding the needs of our members and customers and delivering solutions that improve their financial well-being. At the end of the day, it’s about making a difference in people’s lives.”

Michael hopes TISA’s story will not only inspire other financial institutions in PNG to embrace a similar values-based approach to banking but also encourage greater partnerships between TISA and other financial intuitions to promote ethical and responsible banking.

"We have the power to create a banking system in PNG that serves everyone and our businesses - that’s responsible, and that’s focused on long-term social and environmental impact and financial inclusion."

For Michael, leading TISA is more than a job - it’s a calling.

As TISA continues to grow and evolve, his vision remains focused on empowering Papua New Guineans and helping them transform their lives through better access to banking and financial services.

"TISA is a household PNG brand. We are from here and PNG is home," he says.

"We’re here for the long haul. We are not going anywhere. For TISA, we are building a bank, a business, and a legacy that will benefit all Papua New Guineans for generations to come.”

Ok Tedi Mining Limited (OTML) Managing Director and Chief Executive Officer, Kedi Ilimbit announced a 2024 final dividend payment of PGK250 Million that will be paid in December, bringing the total dividends paid in 2024 to K450 Million.

This announcement was made recently at a dinner event hosted to celebrate the Company’s 40th year of production after the OTML Board of Directors’ approval at their recent board sitting onsite from the 11th -14th of November.

The company declared an interim dividend payment of PGK200 Million earlier this year.

OTML has contributed PGK13.4 Billion in dividends to the country over the last 40 years.

Mr Ilimbit said, “Ok Tedi mine has changed over time, going from foreign ownership to 100 percent Papua New Guinean-owned and led mine. The dividend payments demonstrate that the business has been well managed.”

He further added, “We started strong at the beginning of this year with high production and despite the collapse of an electrical transmission tower in the last quarter, the metal prices are favourable, and we will finish the year strong.”

Also of notable importance is the Company’s new ‘reset, restore, reinvigorate strategy which has seen a whole new restructure of the Company’s operations and the associated improvement in performance and productivity.

Mr Ilimbit thanked the workforce for another successful year of production and looks forward to continued successful operations while delivering on its commitment towards the people of Western Province and Papua New Guinea.

OTML Board Chairman Jeffrey Innes thanked the management and the workforce for their collective efforts, and the support from the local communities to deliver this dividend to the people of PNG.

“As the mine life extends to 2050, we plan on making OTML a US$2 Billion a year revenue-making company.”

“Over the next 27 years, our company is poised to generate a projected K40 billion (US$8.5 billion) in revenue. This will further enhance our contribution to the country and ensure that our operations continue to deliver value for many years to come.”

Mayur Resources Limited is pleased to provide an update on construction activities at Mayur’s Central Lime Project in Papua New Guinea.

Mayur continues to make progress at its Central Lime Project, advancing both Stage Two of its wharf and other early construction works. Over recent days, Mayur has taken delivery of essential equipment and materials utilising its own wharf infrastructure. This equipment will be used to facilitate the development of Stage Two of Mayur’s wharf and other enabling infrastructure as the Company progresses towards full-scale construction of its Central Lime Project pending a Final Investment Decision.

Mayur anticipates mobilising the sheet piling contractor by the end of November 2024. Piling materials are already en route from the manufacturer.

Completion of Stage Two of the wharf will enable Roll-On/Roll-Off (RO/RO) and crane loaded barge operations facilitating sales of raw limestone by Mayur as well as further deliveries of construction equipment and materials necessary for full-scale construction (see ASX announcement 13 August 2024 for further information on Mayur’s wharf).

Local Community Engagement

Mayur has committed to constructing essential infrastructure for the local Kido community near the Central Lime Project, including a new sports field, as part of its broader social responsibility programme. Mayur is pleased to advise that construction activities have commenced following design completion last month.

Mayur looks forward to completing this project by January 2025, providing valuable social infrastructure to the Kido community. Additional infrastructure projects benefitting the Kido community are planned to commence upon the Final Investment Decision being made at the Central Lime Project.

The Commonwealth Business Forum (CBF) 2024, held in Apia, Samoa on 23–24 October as part of the Commonwealth Heads of Government (CHOGM) and associated meetings, marked a landmark event as the first such forum of Commonwealth countries hosted by a Pacific country (the last large global conference of comparable proportions held in Samoa was the Small Islands Development States (SIDS) Conference in 2014). that . Bringing together over 500 business leaders and government officials from more than 50 countries from Africa, Asia, the Pacific and the Caribbean, the forum served as a critical platform for dialogue on economic growth, resilience, and partnership across the Commonwealth. Under the theme “One Resilient Common Future; Transforming Our Common Wealth,” the forum aimed to address unique challenges and opportunities facing Pacific Island nations, with a strong emphasis on sustainable growth and climate resilience.

It provided an opportunity for Pacific Island countries to highlight their specific vulnerabilities and aspirations within the global economy. Business leaders underscored the need for economic strategies that not only promote growth but also adapt to climate change and environmental fragility, which are increasingly impacting island states. The forum’s location underscored Samoa’s and the wider region’s desire to establish the Pacific as a central player in international economic dialogue, promoting development that respects both the cultural heritage and environmental realities of the islands.

Australian Pacific business councils (Australia Pacific Islands, Australia Papua New Guinea, and Australia Fiji Business Councils) and Pacific islands business representatives played an active role, participating in roundtable discussions aimed at strengthening trade and investment across the Pacific. The delegation’s involvement highlighted Australia and the Pacific Islands’ commitment to enhancing economic ties in the region, with a focus on sectors like renewable energy, infrastructure development, and digital transformation. The councils’ discussions centred around promoting collaborations that support long-term economic resilience and sustainability, recognising the importance of regional stability and growth.

The Business Councils’ Executive Director Frank Yourn said, “the CHOGM events including the Commonwealth Business Forum provided an unprecedented opportunity to showcase the Pacific to a major group of global countries at the most senior level.

“The Government of Samoa, our colleagues at the Samoa Chamber of Commerce and Industry and the people of Samoa all played an important role in presenting Samoa as a worthy host of the event in arranging this event for 5,000+ delegates.

“Attending delegates from across the globe had a positive experience and an opportunity to learn and understand about Samoa specifically, and about the Pacific islands countries more generally. The Councils were honoured to have the opportunity of supporting the Samoan government and our Chamber of Commerce colleagues as hosts of these events.”

The Business Councils’ delegation comprised Frank Kramer (APNGBC and APIBC), George Constantinou (APIBC and APNGBC), Zane Yoshida (AFBC), William Blank (APIBC), Leata Alaimoana (TIQ), Joe Fuavao (TIQ), and Frank Yourn.

Trade and Investment Queensland (TIQ), a member of APNGBC, also took a significant role in advancing Queensland’s interests within the Commonwealth framework. TIQ focused on building connections between Queensland-based businesses and international partners, especially in fields such as education, renewable energy, and skills development. TIQ underscored Queensland’s capabilities and commitment to the Pacific, aligning its goals with the forum’s themes of resilience and sustainable development.

The CBF 2024 facilitated invaluable opportunities for networking and knowledge exchange, aiming to foster stronger partnerships among Commonwealth nations and encourage sustainable growth initiatives. As the first CBF held in the Pacific islands region (the 2011 CHOGM conference was held in Perth, Australia), the event reflected the region’s rising prominence in global economic dialogue. The active participation of Pacific Island states, Australian Pacific business councils, and organisations like TIQ demonstrated a unified commitment to creating a resilient and prosperous future for the Pacific, focusing on its unique needs and strengths.

Prime Minister Hon. James Marape has congratulated Ok Tedi Mining Limited on its 40th anniversary while noting that the mine – on the verge of closure only a few years ago is now operational for another 25 years.

The company held a dinner party on the evening of Thursday, 14 November 2024, in Tabubil to mark the occasion of their 40th anniversary. Although Prime Minister Marape could not attend, he was able to address company management and staff virtually from his office in Waigani, Port Moresby.

“Tonight is an important milestone. It’s a pleasure, honour and privilege to be part of this occasion. In 1984, when the mine was opened, it ran with the story of our country. It came at the backdrop of the Panguna mine that was carrying us. Four years later, when Panguna mine was shut down because of the Bougainville crisis, Ok Tedi remained became a cornerstone and an anchor of our country’s economy to today,’’ said Prime Minister Marape.

While thanking the Ok Tedi management and staff, including those from the past for a good legacy, PM Marape noted that Ok Tedi ships 250,000 to 400,000 tonnes of concentrate of copper, gold and silver annually, earning a revenue of K1 billion for the country and a profit exceeding K200 million for the company.

The Prime Minister also expressed his appreciation to Western Province leaders from all levels, landowners and the people for ensuring that the mine continued to operate.

“I want to thank Western Provincial Government, past and present leaders; landowners, and people of Western Province for their gift of Ok Tedi to Papua New Guinea, which has been a major revenue resource for PNG at the expense of their environment, including the river system, ‘’ Prime Minister Marape said.

PM Marape has highlighted that when his government came into office in 2019, Ok Tedi was on the verge of closure, but his government directed the company board and management to do a study and extend the life of the Mine.

While the company management at the time could not do it, Prime Minister Marape said he was pleased with the new management, headed by Kedi Ilimbit, for being able to extend the life of the mine to year 2050 – an additional 25 years.

He said: “This demands that the National Government through the Mineral Resources Authority will have to liaise with the landowners and the Western Provincial Government on the mine extension, and the possibility of looking at benefits-split in the extended life.

“We appreciate Western Province for their continued support of the mine. The balance of the life that is coming on must contribute better to Western Province as well as the country from the earnings we get from the mine going forward.

“We are also asking the mine to look at the tailings disposals – the possibility to utilise new technology and look at better tailings disposals so that it is friendly to river systems we have as well as to the local environment.

“Instructions have also been given out to look at other potential mine areas within the vicinity.’’

Prime Minister Marape commended Ok Tedi on reaching a special milestone in its operation and thanked the company for its contribution to the country’s progress and development.

In going forward, he urged the company to continue to look after the Western Provincial Government and the people by way of giving them projects, im- proving infrastructure and providing other basic services such as health under the company’s tax credit scheme.

Papua New Guinea, a nation known for its abundant natural resources, a strategic Pacific location, and untapped market potential, makes the country an attractive destination of opportunities for international investors.

However, operating in PNG can be complex, with challenges such as managing a unique regulatory environment, overcoming logistical hurdles, and managing cultural differences.

For foreign companies, these obstacles can hinder their ability to establish and maintain successful operations in the country.

A solution to these challenges is partnering with a locally established company with the expertise to guide international investors through the complexities of the PNG business environment.

PNG CR Services Limited, with over 14 years of experience, stands out as an ideal partner for those looking to succeed in this unique market.

PNG CR Services Limited is a multidisciplinary company that specializes in helping international companies manage the complexities of operating in Papua New Guinea. Its deep local knowledge, extensive network, and ability to manage large-scale projects make them a reliable partner for any business looking to enter the PNG market.

With a portfolio that includes over 127 completed projects across various sectors, including mining, oil and gas, manufacturing, and government services, PNG CR Services has a proven track record of success in both remote and urban areas of the country.

The company has earned the trust of tier-one clients such as Kumul Petroleum Holdings, ExxonMobil, Newcrest Mining, Chevron, Australian Federal Police- Australian Government, Trans Wonderland Group, PNG Sustainable Development Programme and the United Nations Development Programme.

The legal and regulatory knowledge PNG CR Services has will help investors avoid common pitfalls, such as delays due to non-compliance or misinterpretation of laws.

PNG CR Services Limited’s experience operating in the most remote parts of the country is uniquely positioned to help clients overcome remote geography and underdeveloped infrastructure barriers, ensuring timely delivery of goods, materials, and personnel.

The company has operation bases across the country, having established its main base in Port Moresby.

For potential investors and companies, establishing trust and building strong relationships with local stakeholders is crucial for the success of any foreign investment in PNG.

The company’s longstanding presence in the country has enabled it to develop cultural fluency and establish strong connections with local communities, landowner associations, and government bodies. Their ability to manage the social and business structures in PNG is a key advantage in building rapport with local stakeholders and ensuring that projects progress smoothly.

Additionally, PNG CR Services Limited places a strong emphasis on local capacity building. The company provides training, employment opportunities for more than 300 personnel in PNG, and provide support to local businesses which helps to foster sustainable economic growth and creates a lasting positive impact on the communities where they operate.

The deep understanding of the local political, economic, and environmental landscape enables the company to help investors manage these risks.

The company’s extensive experience allows them to identify potential challenges early and implement effective strategies to mitigate risks, ensuring projects stay on track despite external uncertainties.

PNG CR Services Limited has demonstrated its capacity to deliver complex projects on time and within budget.

Notable examples include recently completed, large-scale infrastructure projects such as the health infrastructure projects like the Nursing College in Balimo Western Province, PNG SDP in Balimo and ABT ASSOCIATE – Agricultural Hub Morehead.

These successful projects highlight PNG CR Services Limited’s capability to manage projects across various industries and terrains.

Having a reputation built on the foundation of trust in the country’s business environment, partnering with PNG CR Services Limited puts both the investor and the country in a win-win situation.

For more information on how PNG CR Services Limited can help your business thrive in PNG, establish contact today to discover tailored solutions that will ensure the success of your investment.

Celebrating 70 years of manufacturing in Papua New Guinea this year, PNG Forest Products has long been an industry leader in Engineered Wood Products and is committed to building a better future through sustainable manufacturing practices. 

All timber is sourced from renewable pine plantations managed by the PNG Forest Authority, with a focus on minimising waste to achieve maximum utilisation of the wood fibre.

“Traditionally, plywood manufacturers will peel the logs for the veneers down to a core of approximately 110mm, which they generally discard,” says Manager of Strategy and Development, Peter Robinson.  “But at PNGFP we re-peel that core in a special spindleless lathe to about the thickness of a broom stick; in addition, we also join less-than-full sheets of veneer to create useable full sheets thereby maximising the recovery.”

“All wood waste is chipped and used as fuel for the Biomass Boiler producing steam for the veneer driers, plywood hot presses and kilns; and any residual sawdust is used at PNGFP’s poultry farm.  So you can see we are serious about complete log utilisation.”

PNGFP also works in conjunction with the PNG Department of Environment and Conservation (DEC) to ensure that the best environmental practices are maintained. 

In fact, PNG Forest Products is the only company in PNG that has achieved PEFC Chain of Custody accreditation on the basis of 100% controlled wood. PEFC (Programme for the Endorsement of Forest Certification) is an international organisation based in Switzerland that promotes sustainable forest management through independent third-party certification.

As part of the company’s compliance with PEFC accreditation and certification, PNGFP’s environmental practices are audited annually and DEC conducts annual inspections as part of their operating permit conditions. PNGFP’s Chain of Custody certification demonstrates a commitment to sustainable forest management that is unique in this country.  

As a further commitment to sustainability, the manufacturing facilities in Bulolo are powered by PNGFP’s own Hydro Power stations which they continue to invest in heavily. In 2023, PNGFP Hydro commissioned their fourth power station at Baime, feeding 11.6MW into PPL’s Ramu grid and raising their capacity to supply PPL up to 22MW.

“Our carbon footprint is extremely low due to the combination of electrical power from Hydro and heat from wood waste, whereas in Australia, for example, the plywood manufacturers are powered by coal fired power stations and they use gas for heating the driers and presses,” Robinson explains.

“Our combination of renewable timber resources processed with sustainable hydro power and biomass heat energy makes PNGFP’s engineered wood products truly and uniquely green.”

Exploration is important for the future of Papua New Guinea’s mining sector, which plays a vital role in the nation's growth. Without continued exploration, the country will face a decline in mining activity, said Papua New Guinea Mineral Resources Authority Managing Director Jerry Garry.

“And if there is no exploration, there will be no mining in this country,” Garry said at a signing event on November 14th with a Chinese mining agency at the Mining Haus in Port Moresby.

He explained that the country faces a significant gap in junior exploration companies, a trend that has been on the decline for over 15 years -- worsened by the global mining sector’s focus on advanced projects and mergers rather than exploration in potential locations in the country.

“If we do not invest in exploration, we risk running out of new mining projects,” the MRA chief said.

Garry emphasised the importance of expanding exploration efforts and partnering with countries like China, which possesses advanced technology and expertise.

This was highlighted during the signing of a five-year Memorandum of Understanding (MOU) between the MRA Geological Survey and the China Geological Survey from 2025 to 2030, witnessed by Dr. Wang Tiangang of the latter’s Institute of Geology and Minerals. 

The MOU will involve two main components. The first is a geoscience survey, which includes geochemical mapping, soil and rock sampling, and the use of remote sensing techniques in certain areas. The second component focuses on capacity building for the MRA, with opportunities for MRA geoscientists to attend universities in China for advanced degrees (Masters and Doctorates).

“This partnership with China provides an opportunity to generate new data that could attract new exploration companies and potentially uncover new mineral deposits in PNG,” Garry added.

Mr. Gabriel Kuna, MRA Officer in Charge (OIC) Geological Survey Division, was also present to witness the signing.

The MOU aims to facilitate collaboration in geological research and scientific data analysis, providing a framework for the exchange of technical knowledge and enhancing geoscientific research capabilities, and is a follow-up to the initial MOU signed in 2012.

The key activities under the MOU will depend on the financial and human resources available to both parties. Other potential areas of collaboration include:

1. Exchange of scientific and technical information
2. Research visits and knowledge sharing
3. Joint projects and subject studies in areas of mutual interest
4. Training of research fellows for joint projects
5. Joint workshops, conferences, and lectures
6. Other mutually agreed forms of cooperation

Following the signing, the two parties will begin conducting geological surveys throughout PNG. The data collected will be added to the country's geological map, which is marketed to investors globally. This will help further promote PNG as a mineral-rich nation with proven resources.

China is recognized for its cutting-edge geoscience technology and innovation, and Garry emphasized that this partnership offers PNG a unique opportunity to learn from Chinese expertise

Explaining the processes, Kuna said: “We will also be collecting soil samples and rock samples here in PNG. Some of those will be taken up to China.”

MRA will share the knowledge and experience gained from this collaboration with other agencies and government departments across PNG. The goal is to eventually expand the geoscientific research efforts to cover the entire country, he added.

Garry said since the onset of the COVID-19 pandemic, many international partners providing technical support to the MRA had been lost.

However, the MRA has since secured new collaborations, including a partnership with other country governments focused on capacity building in the Geological Survey Division, the only scientific arm of the government “responsible for collecting and providing new scientific data for the development of our country,” Garry said.

“Given the rugged and inaccessible terrain of PNG, collecting such data is challenging and costly. This collaboration will help us keep up with global technological advancements, which is crucial for enhancing our understanding of geology and mineral deposits in the country.”

Garry expressed his gratitude to Dr. Wang and the China Geological Survey for their commitment to the partnership.

 “Such collaborations like this will put new scientific data on the table that may entice new players into the country. And hopefully we can be able to generate interest and a new scientific understanding that may unravel some of the new deposits within the country,” he said.

Dr. Wang, on behalf of his superiors and team, expressed his excitement about the collaboration and the opportunities it presents for both countries.  “I take this opportunity to say thank you and look forward to our cooperation,” he said.

The Weir Group PLC (Weir), a global mining technology leader, has been awarded contracts to supply its market-leading WARMAN® slurry pumps and CAVEX® hydrocyclones to Teck’s Highland Valley Copper (HVC) Mine Life Extension (MLE) project in Canada.

Teck’s Highland Valley Copper Mine Life Extension Project aims to extend the mine’s operational life by enhancing existing site infrastructure, addressing the growing demand for copper driven by the transition to a low-carbon future. The project is expected to yield approximately 1.95 million tons of additional copper over its lifespan.

A cornerstone of this project is the WARMAN® MCR® 760 pump, which will be the largest mill circuit pump in North America. This addition complements Weir’s existing and planned installations of equivalent-sized pumps in South America and Australia. The WARMAN® MCR® 760 pump was developed to meet the demand for mill circuit pumps that can handle unprecedentedly high flow rates, minimising the number of operating lines in a plant, and addressing the global trend of declining ore grades that require increased throughput for economical mineral recovery. The WARMAN® MCR® 760 pump is designed to maximise wear life in arduous mill duties and facilitate easy and safe maintenance, regardless of an operator’s maintenance schedule or approach.

In addition, Weir will supply CAVEX® 800CVX and 650CVX hydrocyclones for the MLE Project. HVC, with their experience operating CAVEX® hydrocyclones, has chosen this trusted solution for its consistently high classification efficiency, capacity and low maintenance requirements.

The MLE project will be fully supported by the local Weir service center in Kamloops, British Columbia, ensuring that mission-critical equipment at the HVC mine operates efficiently. The proximity of this service center means that any maintenance or support needs can be addressed promptly, minimising downtime and helping the mine maintain its targets. This local presence is crucial for the mine’s operations, providing reliable access to necessary parts and expert service.

Quinton Sutherland, Weir, Divisional Senior Product Manager, Pumps said:

‘Weir has a proven track record of supplying and supporting the largest, highest capacity mill pumps on the market. Designing, manufacturing, and supporting pumps of this scale presents unique technical and engineering challenges, which is why Weir’s team of experts, drawing on decades of experience supporting customers across the globe, are the best choice when deciding who to trust with the most critical mill circuit operations.

‘It’s an engineering and manufacturing feat that’s not easily replicable, which is why it’s important that we can demonstrate to our customers that we’ve done this before, and they know that they can have absolute confidence in us.

With declining ore grades and increased demand, miners are increasingly looking for solutions to increase their throughput and our pumps play a pivotal role in ensuring they continue to meet their production targets.

Phil Blondin, Weir, Director, Capital Sales North America said:

‘Weir prioritises being close to our customers wherever they are in the world. We have a service centre in Kamloops – a close drive to HVC – and a local team that can provide service and maintenance support, as well as an inventory program that encompasses the lifecycle of the products we supply.

‘This is the first mill pump this large in North America and, while Weir has manufactured and installed pumps this size in other parts of the world, we recognise that having a service network to support customers at every stage of the project is an essential part of what we’re offering.’

Remington Technology celebrated the launch of the new Konica Minolta bizhub iSeries multifunction devices on Thursday 7th November in Port Moresby, featuring the latest in simplicity, security, and sustainability for business technology. Attended by valued customers, suppliers, and Konica Minolta representatives from Australia, the event highlighted the close, relationship between Remington Technology and Konica Minolta.

The new Konica Minolta bizhub i-Series makes printing easier, safer, and more efficient with its latest upgrade. The advanced security features include Authentication Attack Detection to block hacking attempts and optional BitDefender anti-virus to guard against malware, with alerts sent to administrators if a threat arises. The i-Series also offers a smartphone-like interface, where apps can be grouped for easy access. For businesses using Microsoft Azure or Google Workspace, single sign-on makes file access quicker. The i-Series boosts productivity too, with options for extra paper capacity and Automatic Media Detection on select models, making it easy to handle different types of paper for smooth, high-quality printing.

Navin Raju, CEO of Remington Group, expressed his pride in the launch: “At Remington, we strive to deliver technology that meets the evolving needs of our clients. Partnering with Konica Minolta to bring the new bizhub iSeries to Papua New Guinea is part of our mission to offer smarter, more secure, and environmentally friendly solutions. With these new devices, we’re ready to help our clients tackle their challenges with greater ease and efficiency.”

Dean Hosking, Chief Sales Officer for Konica Minolta Australia, added: “Our collaboration with Remington Technology and their outstanding performance as Dealer of the Year 2024 emphasizes our mutual commitment to driving business innovation. The bizhub iSeries represents a new standard in both simplicity and security, and we’re excited to support Remington’s efforts to bring these features to businesses across Papua New Guinea.”

This launch further strengthens Remington’s long-standing partnership with Konica Minolta and highlights its dedication to supporting PNG’s business community with innovative and sustainable technology solutions.

Santos CEO Mr. Kevin Gallagher recently called Papua New Guinea’s Liquefied Natural Gas (PNG LNG) project  a "world-class asset" that boasts a low-cost, low-emissions intensity profile.

He told PNG Business News that the project continues to deliver reliable LNG supply to key markets in Asia, reinforcing its vital role in the global energy landscape.

“PNG LNG remains a world-class asset that is low-cost, low-emissions intensity and delivers reliable LNG supply to our customers in Asia,” Mr. Gallagher said.

He made this comment following Santos’ successful completed sale of a 2.6-percent interest in the PNG LNG project to Kumul Petroleum Holdings Limited on November 4th, which highlights the continued growth and potential of one of the country’s most significant energy assets.

Mr. Gallagher also pointed to the favorable regulatory framework surrounding PNG LNG, which ensures stability and continued investment in the sector.

The project is expected to generate significant economic returns for both domestic and international stakeholders, making it an essential driver of growth for the nation's economy.

“The project is positioned in a supportive regulatory environment, with fiscal stability arrangements in place ensuring that it contributes strong cash flows to project participants and delivers significant economic and social benefits to the nation,” he said.

“The finalisation of Kumul’s participation in PNG LNG is an important milestone for the country’s national petroleum and energy company."

The transaction marks an important milestone for KPHL, and with this acquisition, the company solidifies its position as a key stakeholder in the lucrative PNG LNG venture.

At Sprint Networks, its journey is deeply rooted in the unique landscape of the Pacific Islands. More than a Managed Service Provider, the firm is a pioneer committed to reshaping the technology scene in this dynamic region.

The company’s engagement extends beyond mere service delivery to a deeper understanding and
“innovative solutioning” for the distinctive needs of these diverse communities.

Understanding the Pacific Challenge

Connectivity in the Pacific Islands is not just a utility but a crucial lifeline. Scattered across vast oceanic expanses, these islands face unique geographical and infrastructural challenges.

Traditional SD-WAN solutions, often developed in far-removed Silicon Valley labs, have failed to live up to the promises made to these island nations. This gap has prompted Sprint Networks to seek and provide solutions that truly resonate with the Pacific’s distinct requirements.

Why Big-Name SD-WAN Vendors Fall Short

Many renowned SD-WAN providers have propagated solutions that unfortunately do not align with the on-ground realities of the Pacific Islands. Their one-size-fits-all approach overlooks critical aspects like erratic WAN links, high latency, and extreme environmental conditions of remote and rural networks.

These vendor shortcomings and issues range from spontaneous reboots of appliances during critical business hours to inadequate load-sharing capabilities across multiple WAN links.

Furthermore, these vendors often levy additional charges for essential features like network visibility, which should be standard in any robust SD-WAN solution. Another critical point of concern is the high CPU usage in some of these appliances, compromising efficiency and reliability.

The expiration of a vendor’s cryptographic certificates caused widespread outages and chaos, as rebooting the equipment exacerbated the issue across customer networks.

Another notable limitation is the dependency on internet connectivity for the management and operation of their SD-WAN solutions, leaving organizations vulnerable in areas where internet access is unstable or non-existent.

Sprint Networks: A Tailored Approach

Sprint Networks has taken a different route, as it believes in a vendor-agnostic approach, focusing on real-world solutions rather than brand dominance. The firm’s extensive research into the Pacific Islands’ networking challenges since 2014 has led it to identify and collaborate with providers who genuinely address these issues. Currently, Versa Networks’ SD-WAN offerings shine as a beacon of hope, yet the company remains agile and open to evolving its partnerships as technology and needs change.

Versa Networks: A Commitment to the Pacific

In contrast, Sprint’s partner, Versa Networks, stands out for its suitability in the Pacific context. Versa’s SD-WAN solutions are designed to excel in areas crucial to Pacific Island businesses: robust security, adaptability, sophisticated analytics, and genuine multi-tenancy.

Crucially, Versa’s technology remains operational even in the absence of internet connectivity, ensuring uninterrupted service in the Pacific’s often unpredictable networking environment.

Key Features of a Robust SD-WAN Solution

A truly effective SD-WAN solution for the Pacific Islands should encompass:

Granular Traffic Steering: Managing bandwidth is critical, especially in regions with limited connectivity. Versa Networks’ SD-WAN provides precise control over traffic, ensuring efficient use of available bandwidth.

TCP Optimization: Minimizing high latency and packet loss is paramount. Versa’s technology optimizes data transmission, crucial for the satellite and cellular links prevalent in the Pacific.

Advanced Security and Deep Packet Inspection: In a region facing unique security challenges, Versa’s integrated security framework ensures data integrity and protection against emerging threats.

Quality of Service and Adaptive Shaping: Prioritizing essential applications and services for optimal business functionality is key. Versa’s SD-WAN ensures that critical applications receive the bandwidth they require, even in congested networks.

Real-Time Analytics: Offering insights for informed decision-making. Versa’s analytics provide a comprehensive view of network performance, enabling businesses in the Pacific to make strategic decisions.

Packet Replication and Forward Error Correction: Ensuring reliable connectivity in challenging network conditions is vital. Versa’s SD-WAN includes these features as standard, not as costly add-ons.

Operational Resilience without Internet: Versa’s capability to operate independently of internet connectivity is essential for the Pacific’s varied and sometimes isolated environments.

Sprint Networks: Integrity and Forward-Thinking

Sprint Networks is dedicated to providing solutions that genuinely meet the needs of the Pacific Islands. Since 2014, its focus has been on researching and implementing SD-WAN solutions that are not just effective but are truly aligned with the unique challenges of the region.

Sprint and Versa stand committed to offering solutions that are reliable, efficient, and tailored to the specific needs of their clients, as their approach is not about selling a product; it’s about forming lasting partnerships and supporting the growth and success of businesses in these unique communities.

Empowering the Pacific Islands: The Path Forward

Sprint Networks is committed to transforming connectivity in the Pacific Islands. Its approach is grounded in a deep understanding of the region’s challenges and a steadfast commitment to providing the best and most suitable SD-WAN solutions.

The company is not confined to a single vendor; its mission is to collaborate with the best, be it Versa Networks today or another innovator tomorrow. They invite the public to join them in a journey of transformation and empowerment, as it strives to deliver resilient, adaptable, and future-ready connectivity solutions for the Pacific Islands.

The Information Management division of APCS (Asia Pacific Communication Specialists) may be new, but it comes equipped with more than three decades of experience in PNG information compliance and governance.

Better known across PNG for their expansive range of IT products and services, as well as business internet, APCS’s foray into the world of information management comes ready-made to meet PNG’s governance and compliance requirements.

This is something that APCS’ Senior Information Consultant, Christine Noske, says is often overlooked in digital transformation projects.  

A highly experienced information management consultant, Christine boasts more than 30 years’ experience in helping PNG enterprise and public sector navigate through the complex world of compliance, governance, and risk management.

Now at the helm of APCS’ information management division, Christine is passing on her wealth of experience to a new generation of information specialists. 

This investment has been quick to show a return, as several government agencies have moved rapidly to take advantage of an ISO-compliant, information management framework to accompany their digital transformation activities.

When it comes to digital transformation projects, Christine explains why it’s not a good idea to simply jump into a scanning project, or procure a document software system, without the corresponding information management framework to support the process:

“In PNG’s newspapers recently, or through the rumour mill, we are more frequently seeing articles about, or hearing stories of, information being stolen or ‘lost’ or not being maintained, of not being readable or of poor quality. So how can we address these issues? Organisations should develop and implement an Information Management Framework,” she said.

In today’s information-driven world, effective information management (IM) frameworks are critical for organisations. These frameworks establish systematic processes to handle an organisation’s information from creation to disposal, ensuring compliance, information security, and operational efficiency. 

Christine says a robust IM framework is foundational to effective governance and plays a significant role in risk management by safeguarding vital information assets and supporting legal compliance whilst ensuring organisational needs are met.

Information management frameworks provide structured policies, practices, and technologies for handling organisational information which encompasses both documents and records. While documents typically refer to draft documents, records are evidence of organisational activities and transactions that require secure retention and access over time.

IM frameworks include procedures for the entire lifecycle of information - from creation and storage to access, retention, and disposal. Implementing these frameworks ensures an organisation’s information is accurate, accessible, and protected.

A comprehensive IM framework includes four key components:

• Policy Development: Clear guidelines define the handling of information across all areas of the organisation.
• Information Classification: Assigning categories to information to ensure information can be readily retrieved and are also used as a basis to determine access and retention needs.
• Access Controls: Restricting access to sensitive information and protecting against unauthorised access.
• Retention and Disposal Schedules: Structured timeframes for information retention to support compliance with regulations and business requirements.

IM Frameworks and Governance and Risk Management

Governance refers to policies and structures that guide decision-making and accountability within an organisation. Effective governance frameworks rely heavily on access to reliable, well-managed information. IM frameworks support organisational governance by enhancing transparency, accountability, and operational efficiency.

• Minimising Information Loss: Organisations face potential information loss from cyberattacks, accidental deletions, or natural disasters.  An IM framework provides secure storage, regular backups, and recovery processes, safeguarding information against loss and ensuring business continuity.
• Transparency and Accountability: An IM framework ensures information is consistent, complete, and traceable. This transparency supports audit trails, providing clear evidence of decisions and transactions. Such transparency is vital for internal governance and is often a regulatory requirement for external auditing.
• Streamlining Decision-Making: Reliable data and well-organised information improves decision-making processes.  Management relies on accurate, up-to-date information to make informed decisions.  By maintaining easily accessible, accurate information, IM frameworks streamline decision-making, increasing the efficiency of governance and business processes.
• Supporting Corporate Compliance: An organisation’s adherence to internal policies and external regulations is foundational to effective governance. An IM framework promotes consistent policy application, demonstrating an organisation’s commitment to compliance and governance. For example, retaining financial records as per regulations builds stakeholder confidence, showcasing a commitment to ethical and legal practice.
• Enabling Continuous Improvement: Ongoing monitoring of IM frameworks provides insights into areas for improvement. Regular audits, feedback loops, and compliance checks help organisations refine their IM practices, supporting continuous improvement and adaptability in governance.

IM frameworks are indispensable for organisations aiming to achieve robust risk management and governance. By systematising the handling, storage, and protection of information, IM frameworks mitigate legal, financial, and operational risks, enhancing information security, and ensuring compliance. Moreover, they lay the groundwork for effective governance by promoting transparency, accountability, and informed decision-making.

In an information-centric world, organisations with strong IM frameworks are better positioned to protect their information assets, uphold regulatory requirements, and respond adeptly to evolving challenges, ensuring sustainability and resilience.

For more information on how to get started on your organisations’ digital journey, get in touch at www.apcs.com.pg

In celebration of the company’s 75th anniversary as a Caterpillar Dealer in Papua New Guinea, Hastings Deering PNG held an event in Port Moresby to commemorate the significant milestone.

Members of the Hastings Deering PNG team, together with members of the broader Pacific Islands and Hastings Deering Executive Leadership Teams, came together with some PNG customers, partners and key stakeholders to celebrate all the company has achieved since its beginnings in Lae in 1949.  

From speeches to entertainment from local performers, to sharing insights and memorable moments over the years, the evening was a night to remember and an opportunity for many to reflect on the progress and pride displayed within the PNG business.

Hastings Deering’s Chief Operating Officer – Pacific Islands and Rental Solutions, Jason Smith, said: “Our success in PNG is a reflection of the efforts of our people and their passion, and our commitment to constantly innovate and evolve through the challenges and opportunities that have come our way in this region.”

During the evening, Hastings Deering CEO and Managing Director, Mark Scott, also spoke about the relationships and support the company has had from its customers, and how it has worked in partnership with them to drive progress, not only within their respective businesses, but across the country.

Mark also unveiled the new Hastings Deering PNG brand – A brand that retains the firm’s history but also highlights the importance of its presence within PNG and the pride that is evident among the local team.

Today, Hastings Deering PNG is an organisation of more than 300 employees, based across five sites in Lae, Tabubil, Lihir, Kimbe and its headquarters in Port Moresby.

Congratulations to the PNG Team on 75 years of operations as a Caterpillar Dealer!

Since 2007, the Head Hunters team has sourced and connected professionals worldwide to match their clients' talent and cultural needs.

With a mission to connect organisations with top-tier talent, the firm leverages extensive industry expertise and a global database to deliver exceptional results, ensuring clients find the right candidates for key positions time and again.

Head Hunters operates under a clear mission: “We Listen, We Hunt, We Deliver.” This philosophy shapes their recruitment approach, emphasising a deep understanding of each client’s needs.

For businesses aiming to elevate their hiring processes, Head Hunters offers a distinctive and effective approach that promises reliable results every time, using targeted methods that go beyond traditional recruitment.

By focusing on specific skills and experiences, Head Hunters ensures that clients receive a curated shortlist of the most qualified professionals in the market.

With over 15 years of successful placements, Head Hunters’ expertise spans sectors including finance, legal, engineering, sales, marketing, and technology. This broad industry knowledge enables them to meet diverse organisational needs, particularly for senior roles and C-suite positions.

Their commitment to understanding both the candidate and client landscapes in Papua New Guinea (PNG) and Australia allows them to provide effective solutions from day one.

Head Hunters stands out for its strategic approach and unique operational model. Unlike standard recruitment agencies that cast a wide net, Head Hunters employs a meticulous selection process focused on each role’s specific requirements. This ensures that only the most qualified candidates are presented to clients, significantly reducing time and resources spent on hiring.

The firm specialises in placing expatriate talent in PNG, where sourcing experienced professionals can be challenging. By leveraging their network of expatriate specialists, Head Hunters provides skilled individuals ready to contribute effectively from day one.

As demand for high-calibre professionals rises, Head Hunters remains committed to its mission of excellence. By prioritising client satisfaction and focusing on quality placements, they are redefining what it means to be a recruitment partner.

Located at 339 Coronation Drive in Milton, Brisbane, and Monian Tower, Douglas Street, in Port Moresby’s town centre, this boutique recruitment firm not only serves key sectors but also fosters strong client relationships, ensuring ongoing support and communication throughout the hiring process.

Their local expertise and industry connections in both Australia and PNG make them a preferred partner for organisations navigating today’s recruitment complexities.

Connecting Australian Businesses with Top Talent

As local recruitment experts, Head Hunters is a trusted name in talent acquisition, transforming how Australian companies find skilled professionals. With a proven track record in matching businesses with ideal candidates, the firm specialises in placing exceptional talent across diverse industries.

Understanding the unique challenges of the Australian workforce, Head Hunters prides itself on an extensive database of skilled Australians. Their services include comprehensive database placements, executive searches, and an innovative express shortlisting service.

The express shortlisting service meets the needs of businesses requiring quick, cost-effective hiring solutions. Upon receiving applications, their local recruitment experts rigorously screen candidates against agreed criteria, delivering the top 3-5 candidates within a swift turnaround time for a flat fee. This approach streamlines hiring and saves businesses valuable time and resources.

Head Hunters is ready to assist, whether businesses require executive recruitment, talent sourcing, or express shortlisting services.

Leading Recruitment Solutions for PNG

Head Hunters is the market leader in recruiting PNG professionals and identifying the best-fit expatriates for PNG, with a proven track record of placing C-suite professionals across various sectors.

The firm has successfully matched organisations with top-tier talent, including Board Directors, CEOs, CFOs, IT Heads, Project Engineers, Sales Managers, Retail Managers, Commercial Managers, Legal Counsel, and Audit Managers across all regions of PNG.

Understanding the complexities of clients’ work environments, Head Hunters provides tailored recruitment solutions. The dedicated team is equipped to manage every aspect of recruitment, ensuring a seamless experience for both employers and candidates.

Their services encompass full executive recruitment, headhunting for professional candidates, and express shortlisting services designed to meet diverse business needs.

Contact Head Hunters Today

For those seeking to enhance their talent acquisition strategies, Head Hunters invites you to start your recruitment journey today. Visit their website to learn more about tailored services and discover how they can help your organisation succeed.

Companies can register job openings or call for more information on finding the ideal candidates for their PNG operations. Businesses in PNG needing assistance with executive recruitment, talent sourcing, or express shortlisting services can reach out at +675 7090 7200.

For companies in Australia, those interested in optimising recruitment processes can contact the team at +617 3368 2523 to explore how they can find the ideal candidates for their operations.

Tolu Minerals Limited has announced a successful placement, raising A$26.7 million (Australian Dollars) from sophisticated and institutional investors at an issue price of A$0.80 per share.

In an exclusive interview, Tolu Minerals Managing Director and CEO Iain Macpherson told PNG Business News that this funding will significantly strengthen and accelerate the company's ongoing efforts in exploration and redevelopment of the Tolukuma Gold Mine in the Goilala District of Central Province, Papua New Guinea (PNG).

The placement received strong demand from both new and existing investors, reflecting confidence in Tolu's strategy to leverage the historical infrastructure of the Tolukuma mine to not only grow a substantial Mineral Resource, but also to return the mine to high grade production, Macpherson said.

The proceeds from the placement will be allocated towards accelerating exploration activities, redeveloping the mine—which includes study work, mine development, and dewatering—and providing working capital to support operational costs, he added.

Macpherson said the placement was “a very pleasing outcome. I am also delighted with the ongoing support of a number of leading global institutional gold funds and existing shareholders.”

This placement enables Tolu Minerals Limited to accelerate both its regional and near mine exploration as well as to continue the rapid refurbishment of the mine “back into near term high-grade gold and silver production,” he said.

The CEO also provided insights to PNG Business News into preliminary findings from Phase 1 of the company’s Airborne Mobile Magneto Telluric (MT) survey, covering 723 km², including ML 104 and surrounding exploration licenses.

“The ongoing airborne survey is proving to be an invaluable tool in targeting future exploration and has already highlighted a number of near mine epithermal targets as well as several regional targets,” he said.

The survey revealed advanced copper-gold porphyry and gold epithermal targets as a precursor to field work in preparation for drill testing. Based on reports, within ML 104, a significant conductivity irregularity shows an extension of minerals extending over 2 km south of the mine site, Macpherson said.

Furthermore, the Belavista target, located approximately 10 km west of Tolukuma, supports historical samples with high-grade readings, suggesting promising porphyry mineralization. The mineralized areas around Tolukuma are being prepared for immediate drill testing this year, he added.

The MT survey is continuing over Tolu’s other prospects and will ultimately provide a wealth of invaluable information “that will support the regional exploration not only for Tolu’s core target being epithermal structures and mineralisation, but also importantly copper-gold porphyry’s that represent an entirely different style of target,” the CEO said.

The ongoing airborne MT survey is also identifying potential exploration targets, having revealed several near-mine epithermal targets and regional prospects.

The survey, comparable to a successful initiative undertaken by another gold company, K92 in PNG, aims to uncover structures and mineralised zones extending beyond 1,000 meters in depth.

Macpherson said, “The survey is proving adept at identifying structures and mineralised zones, including both epithermal and porphyry style mineralization, to depths in excess of 1,000m below surface.”

“The survey will be continued over the coming weeks and I look forward to updating the market later this year with the outcomes of this work as well as providing a general update on progress. This survey work was instrumental in the value creation path of fellow PNG gold company K92, which we aim to emulate."

The company currently holds a strong financial position, with pro forma cash estimated at A$29.4 million before costs associated with the placement, Macpherson said. This robust cash position will support Tolu Minerals Limited ambitious plans to expedite both regional and near-mine exploration initiatives.

“This accelerator placement enables us to accelerate and add to our existing plans to accelerate exploration on some of those key targets with field work and ultimately with drilling. More than that though it’s also about accelerating the return of the mine to production and being able to ramp up the production faster than we originally envisaged,” he added.

The placement details indicate that approximately 33.4 million new shares will be issued, utilizing the company’s available Listing Rule 7.1 and 7.1A capacity. The placement price represents a 60% premium over Tolu's initial public offering price and a discount to its recent trading prices.

Stakeholders can anticipate further updates regarding the ongoing airborne survey and overall progress in the coming months, Macpherson said.