The Papua New Guinea Chamber of Mines and Petroleum (“The Chamber”) participated in the recently concluded National Development Forum. The Forum, organized by the Consultative Implementation & Monitoring Council (CIMC), brought together stakeholders from across the public and private sectors, as well as civil society and development organizations, ...

The global financial landscape has seen a rapid transformation in the last decade, driven by a growing emphasis on environmental sustainability. In this new era, institutions, businesses, and individuals are increasingly recognising the rewards from integrating environmental, social, and governance (ESG) factors into their investment decisions. This co...

In the dynamic workplace environment of Papua New Guinea (PNG), first aid training is not only a responsible choice but also a legal requirement. St John Ambulance is passionate about teaching first aid because every life matters, and no one should suffer or die due to a lack of basic medical knowledge. By equipping the people of PNG with essential ...

Prime Minister Hon. James Marape has officially welcomed Newmont Corporation, the world's leading gold company, into Papua New Guinea. He made the welcome, Monday, November 6, 2023, during a joint press conference with Mr. Peter Toth, Chief Development Officer of Newmont, marking the company's acquisition of all Newcrest operations in PNG. Prime Minist...

Historic Mining-Industry Acquisition Sets the Standard for Gold and Copper Mining Newmont Corporation has announced it has completed the acquisition of Newcrest Mining Limited to create the world’s leading gold company with robust copper production. “Today marks a historic milestone in our company and the industry with the successful completion of t...

The Autonomous Bougainville Government is opening its doors to foreign direct investment from developed nations such as Australia, New Zealand, Japan, China, the United States, and European nations, President Ishmael Toroama said in a statement on 31 October. “The government recently declared Bougainville open for business, but this is a specific call ...

Mayur Resources Limited is pleased to announce the execution of an Investment Agreement with Vision Blue Resources, led by Sir Mick Davis, for a proposed investment of US$40 million for a 49% equity share (the Proposed Investment) in Mayur’s Central Lime Project (CLP). The execution of this long form Investment Agreement formalises the Term Sheet annou...

A leadership delegation from the owners of the Frieda River Copper-Gold Project met with senior executives from PNG’s Mineral Resources Authority (MRA) and the Conservation Environment Protection Authority (CEPA) to discuss the permitting of the project and the best practice environmental standards the project is committed to delivering. Operated by Pa...

PNGX Group, operator of Papua New Guinea’s national stock exchange - PNGX Markets, welcomes Newmont Corporation (PNGX Code: NEM) to the market. Newmont will be the first company to be listed in PNG using depository interests, known as PETS Depository Interests (“PDI”). Newmont has interests in the Lihir gold operation and the Wafi-Golpu gold and cop...

Bougainville’s current special autonomy status grants it a unique position within Papua New Guinea, exempting it from certain laws that apply to other provinces in the country. This was a vital distinction highlighted by the Chief Secretary of the Autonomous Bougainville Government, Shadrach Himata, at the MTDP Alignment Workshop hosted by the National...

Prime Minister Hon. James Marape expressed his heartfelt gratitude to the Asian Development Bank (ADB) for its unwavering support to Papua New Guinea during a meeting with the newly appointed ADB Country Director, Mr. Said Zaidansyah. “Welcome to Papua New Guinea, and I hope that during your time here, you will contribute to a better Papua New Guinea,”...

Prime Minister Hon. James Marape reinforced Papua New Guinea’s global identity as a “forest nation” during the official launch of the K210 million European Union-funded Forestry, Climate Change and Biodiversity (EU-FCCB) Programme. Prime Minister Marape extended his heartfelt gratitude to the European Union for this, and various other projects, includi...

Prime Minister Hon. James Marape has urged the Bank of Papua New Guinea (BPNG) to play a pivotal role in the creation of a K200 billion economy that will help define the future of Papua New Guinea. The Prime Minister's remarks came during his participation in the grand 50th anniversary celebrations of BPNG, which took place in Port Moresby on Wednesday, N...

Prime Minister Hon. James Marape has applauded Air Niugini on its order and impending acquisition of 11 new aircraft that promises a much-improved service to Papua New Guineans and travelers within and outside of the country. Prime Minister Marape gave the applause as he commended the national flag carrier on its continued dedication to aviation safety...

Papua New Guinea (PNG) is ready to grow its trade and investment relationship with the European Union (EU), says the Minister for International Trade and Investment, Hon. Richard Maru. Minister Maru said this in his welcome address at the 4th EU-PNG Business, Trade & Investment Conference in Port Moresby. “We welcome the theme of this year’s confer...

Minister for International Trade and Investment, Hon. Richard Maru is calling for establishment and commercialization of the kava industry in Papua New Guinea (PNG). Minister Maru made this call after learning from the two Fijians who attended the 14th World Indigenous Business Forum in Port Moresby recently that the demand for kava in Fiji and the Pacifi...

iPi Catering, a subsidiary of the iPi Group, completed its Kitchen Operations training program with members of the Papua New Guinea Defence Force (PNGDF), This monumental achievement resulted in 18 men successfully completing their training. iPi Group’s chief executive officer Peter Long expressed delight in delivering the course and commended the p...

Business sentiment is apprehensive due to service disruptions, lower foreign exchange (FX) inflows, likely delays in project commencement and the kina depreciation, according to BSP’s Quarter 3 2023 Pacific Economic & Market Insights report. BSP’s Group General Manager for Corporate Banking, Mr. Peter Beswick, says “recurring power and water supply...

“Foreign exchange (FX) market inflows in Q3-23 fell 16% from Q2-23 to K6 billion, with almost 18% of FX inflows coming from BPNG FX intervention,” according to BSP’s Quarter 3 2023, Pacific Economic & Market Insights report. “In 2023, FX inflows have risen 19% to K18.7b due to a 79% year-on-year increase (K1.7b) in BPNG FX intervention. BPNG has su...

In addition to its core business of harbour towage, Pacific Towing (PacTow) provides salvage, emergency response, and spill response services in PNG and the broader region.  These services have increased in frequency together with the growth of PNG’s oil and gas sector, as well as the increase in Melanesia’s marine traffic.  PacTow has been involved in...

Papua New Guinean workforces have assembled hundreds of Ark Pacific modular buildings for PNG’s resource sector since 2010.  Unskilled local workers across the country have benefited from employment and training opportunities afforded by Ark’s easy-to-assemble modular building systems.  Likewise, developers have benefited from the cost-effective delivery ...

Depreciation of the PGK/USD midrate will benefit exporters as they receive more PGK for their goods, whilst importers will see higher prices as their cost-per-kina increases when purchasing goods overseas to bring into PNG. “A short-run risk of the PGK/USD depreciation is the potential impact on inflation levels for consumers, while the economy may ben...

Mayur Resources Limited is pleased to provide an update on progress at the Central Lime Project (CLP) and an update on its equity and debt funding package for the CLP. Mayur’s Managing Director, Paul Mulder, stated:  "The recent achievements at the Central Lime Project, including the wharf successfully receiving its first shipments, signify more tha...

Shareholders of the Ok Tedi Mining Limited (OTML) have a reason to smile today as the Company paid an interim dividend of K100M on Thursday October 26th while also citing a positive outlook for a final dividend payment for December 2023. OTML Board Chairman Jeffrey Innes said, “We are proud to say that OTML is committed to deliver maximum returns to ou...