The first direct flight between Port Moresby and Guangzhou of the People’s Republic of China is expected to take place in December this year. This announcement was made yesterday by the Minister for International Trade and Investment, Hon. Richard Maru. The discussion on opening of direct flights between Port Moresby and Guangzhou was held between Prim...

On October 16th & 17th, 2023, Papua New Guinea (PNG) Chamber of Mines and Petroleum will host the inaugural Papua New Guinea – Asia Investment Conference in the Kowloon Shangri-La Hotel in Hong Kong, with support of, and in partnership with, the National Government. The PNG Asia Investment Conference will feature Prime Minister Hon. James Marape an...

Ok Tedi Mining Ltd (OTML) conducted a 2-day meeting with its stakeholders over the weekend in a bid to commence awareness as a lead up to the upcoming Community and Mine Continuation Agreement (CMCA) Review planned to commence in early 2024. The meetings hosted at the New Century Hotel in Kiunga was attended by more than 100 leaders and representatives...

The Bank of Papua New Guinea presented to the Port Moresby Chamber of Commerce and Industry the September 2023 Monetary Policy Statement at the Hilton Hotel on the 4th of October 2023. Ms. Elizabeth Genia, Acting Governor of the Bank of PNG, said: "I would like to thank the POMCCI for inviting the Bank of Papua New Guinea to present the September Monet...

Papua New Guinea’s (PNG) economy is forecast to grow by 2% in 2023 and 2.6% in 2024 amid challenges in various fronts, says the Asian Development Outlook (ADO) September 2023.  Difficulties in accessing foreign exchange, power and water supply disruptions, frequent domestic flight cancelations, and issues in the banking sector are some of the economic ...

Growth in developing East Asia and Pacific is projected to remain strong at 5% in 2023 but will ease in the second half of 2023 and is forecast to be 4.5% during 2024, the World Bank said recently in its semi-annual economic outlook for the region. According to the World Bank’s East Asia and Pacific October 2023 Economic Update, regional growth this ye...

The Asian Development Bank (ADB) has approved an additional financing package of $42 million to support the delivery of affordable and high-quality health services in Papua New Guinea (PNG). The second additional financing package for the Health Services Sector Development Program comprises a concessional loan worth $35 million and a $7 million grant s...

The Bougainville Vision 2052 and the Bougainville Integrated Strategic Development Plan 2023-2027 represents a shared, home-grown vision that sets the course for Bougainville’s socio-economic and political prosperity over the next three decades. The Autonomous Bougainville Government officially launched these two significant strategic plans at Toniva i...

Hosting the World Indigenous Business Forum (WIBF) in Port Moresby from October 24-26, 2023, is a wonderful opportunity to promote Papua New Guinea as a tourism destination, says the Minister for International Trade and Investment, Hon. Richard Maru. Minister Maru said this recently during the announcement by the Tourism Promotion Authority (TPA) to suppo...

The regulator of the Capital Market of Papua New Guinea, the Securities Commission of Papua New Guinea (SCPNG) recently granted exemptions for the merger between the Newmont Corporation and Newcrest Mining Limited to proceed after being satisfied that all the requirements of the regulator were met. “We have now reached an understanding which is now cov...

Prime Minister Hon. James Marape expressed his enthusiasm for the ongoing rehabilitation of key road networks, including the Highlands Highway, Ramu Highway, Bulolo Highway, and Lae-Nadzab Road, during the inauguration of Papua New Guinea’s second international airport at Nadzab Tomodachi International Airport on Monday, October 2, 2023. Prime Minister...

Prime Minister Hon. James Marape celebrated the unveiling of the remarkable K794 million Nadzab Tomodachi International Airport on Monday, October 2, 2023, underscoring the enduring bond between Japan and Papua New Guinea. This project was made possible through a K692 million soft loan extended by the Japan International Cooperation Agency (JICA), with th...

Mayur Resources Limited is pleased to provide an update on the construction of the Central Lime Project’s (CLP) wharf infrastructure. Following construction commencing in June 2023, the inner rubble core of the wharf has now largely been completed. Mayur has continued to engage ‘lock step’ with the Regulator on the wharf infrastructure and will continu...

Central Province marked a milestone on the 27th of September 2023 as the Cocoa Board (CB) of PNG officially opened its Southern Regional Office in Port Moresby. The board also signed a Memorandum of Understanding (MoU) with the Central Provincial Government in a significant ceremony, which will now form a pathway for Central Cocoa Central Governor R...

As part of our commitment to education and the future of a skilled workforce in Papua New Guinea. Ok Tedi Mining Limited (OTML) is proudly supporting the University of Papua New Guinea's Earth Sciences Division in hosting the 2023 UPNG Geosciences Open Day with K5000. Scheduled for October 6th, 2023, at UPNG's Waigani Campus in Port Moresby, the 2023 U...

This year Wan PNG's had the honour of travelling to CANCONEX to share its message. At the event Wan PNG was able to engage with various enterprises operating in Papua New Guinea. Their proactive approach allowed them to connect with a multitude of sectors, including financial institutions like BSP, Moni Plus, and Nasfund; FMCG giants such as Paradise Food...

The Minister for Commerce and Industry, Hon. Henry Amuli MP, has told an international audience that Papua New Guinean businesses, including Small and Medium Size Enterprises require technological and financial strength to meaningfully participate in trade and investment, including in service industries like tourism. The Minister was speaking at the la...

Newcrest Mining Limited and the National Energy Authority (NEA) have formalized their collaboration by signing a Memorandum of Understanding (MOU) aimed at identifying, developing, implementing, and financing potential renewable energy initiatives in selected locations across Papua New Guinea (PNG). The signing ceremony, which marked a significant milesto...

Operator of the US$19 billion PNG LNG Project, ExxonMobil PNG has come onboard as the third platinum sponsor for the Inaugural Papua New Guinea (PNG)-Asia Investment Conference in Hong Kong. Hosted by the PNG Chamber of Mines and Petroleum under the theme ‘Partnership for Prosperity’, the PNG-Asia Investment Conference will take place at the Kowloon Sh...

K92 Mining Inc. is pleased to announce that it has entered into a loan agreement with Trafigura Pte Ltd, a market leader in the global commodities industry, pursuant to which Trafigura will provide a US$100 million senior secured loan to K92. In addition, the Papua New Guinea subsidiary of the Company, K92 Mining Limited, and Trafigura have amended and...

Through his participation, President Toroama is proud to announce the signing of an Infrastructure Agreement, which provides the framework to deliver critical infrastructures for Bougainville worth an estimated value of USD$4.8 billion (PGK17.5 billion) comprising government buildings, schools, hospitals, airport, sea ports, bridges, roads, power, telecom...

Prime Minister Hon. James Marape has told American government officials and the business sector that Pacific Island nations were not there in the United States to ask for Aid and grant but to negotiate for better business opportunities for themselves. Prime Minister Marape, who was the spokesperson for the Pacific Island nations, was speaking at a meet...

Prime Minister Hon. James Marape has used the opportunity of the 2nd US-PIF Summit to push for more follow-up action from the United States besides Security and Politics that he said must also encompass Trade & Commerce and other development areas. He pointed out that a “full” relationship between the two countries “must embody all other areas incl...

Prime Minister James Marape, today concluded the US-Pacific Leaders’ Summit and expressed his gratitude to the Biden Administration. The summit was an excellent opportunity for Pacific Island leaders to meet with President Biden and discuss issues related to mutual prosperity, security, and sustainability in the region. He said it is great to see th...