Photo: Ok Tedi Mine According to the Chamber of Mines and Petroleum, the resources industry contributes 39% to the nation's gross domestic product (GDP). As current mines near their end of life, such Ok Tedi, which will stop operating by 2030, vice president Philip Samar said exploration was essential for the industry's survival. “Exploration is ...

August 30th commemorates 21 years since the 2001 Bougainville Peace Agreement (BPA) was signed between the Government of Papua New Guinea and the people of Bougainville to cease hostilities in the Bougainville Civil War. Bougainville President Ishmael Toroama said the BPA is a joint creation between the GoPNG and the Autonomous Bougainville Government,...

Photo credit: PNG Chamber of Mines and Petroleum - Stephen Quantrill The Pasca A gas project's developer, Twinza, is prepared to collaborate with regional members of parliament to identify and reap the community advantages of the Pasca Development project. Stephen Quantrill, the executive chairman of Twinza, stated as much at a briefing for the PNG ...

Small and medium-sized businesses have received export orders totaling more than K7 million (US$2 million) as a result of an ongoing commercial collaboration between the British and PNG governments. Keith Scott, the British High Commissioner to PNG, made this statement in response to Prime Minister James Marape's appeal for investors to consider the ag...

The Central Bank has been encouraged to take action and resolve the problem of the country's businesses having a backlog of foreign exchange, according to Prime Minister James Marape. “We’ve reached a K11 billion threshold as far as Forex is concerned. We work to ensure we bring in additional liquidity into the market and so Mr. Popoitai (Central Bank ...

According to Peter Laden, managing director of ExxonMobil PNG Ltd, there are major sources of LNG (liquefied natural gas) supplies outside of Papua New Guinea (PNG). According to Laden, PNG presently accounts for 2% of the market for LNG, which produces eight to nine million tonnes annually. “In the future, even after Papua LNG, we will still repres...

Photo credit: TotalEnergies  According to an official, Papua New Guinea would gain K86 billion from the Papua LNG project throughout its lifetime. Jean-Marc Noiray, managing director of Total Energies PNG Ltd, made the comments at the induction ceremony for new lawmakers in Port Moresby. He said this when acknowledging the country’s laws and regulat...

The clean green energy projects initiative being championed by Papua New Guinea Prime Minister James Marape moves one step closer to take-off as he met the second time this month with Fortescue Future Industries South-East Asia President Allard M. Nooy in Port Moresby today (August 29 2022). The Prime Minister used this opportunity to connect the compa...

Photo: Minister Wong and PM Marape during their meeting in Port Moresby. Prime Minister Hon. James Marape recently (August 29 2022) welcomed Australian Foreign Affairs Minister Hon. Penny Wong to Papua New Guinea. He welcomed Minister Wong during a meeting with her and her delegation in his office in Port Moresby. PM Marape was accompanied by Min...

Prime Minister Hon. James Marape Hon. James Marape says “the story of our country is not bad” as many make it out to be. He said this today (August 31 2022) when welcoming the 2022 Mid-Year Economic and Fiscal Outlook (MYEFO) presented by Treasurer Ian Ling-Stuckey which highlighted the fact that the Papua New Guinea economy was on the rebound. PM M...

Photo: New Office - Nambawan Super Building - Top Town FinCorp embarks on a transformation program as it commences a nationwide branch upgrade that will incorporate the newly revitalized Fincorp brand. The roll out commences with the relocation of the Lae branch, to the Nambawan Super Building, Section: 49, Allotment: 3 – 7, Office 4, Lae, Morobe Provi...

Photo: Kina’s CEO and Managing Director Greg Pawson Kina has today announced an NPAT of PGK 45.6m an increase of 15% compared to the prior corresponding period (PCP). Kina’s 1H22 results reflect strong revenue growth and ongoing progress against the key strategic priorities of the Group. Kina remains committed to delivering improved returns by growing ...

The Pasca A offshore gas project in Gulf will go ahead once the gas agreement is signed and the petroleum development licence (PDL) is approved, says developer Twinza. Robert Gard, the chief executive officer of Twinza, made the statement while attending the recent induction ceremony for the 11th National Parliament in Port Moresby. “We are awaiting...

Photo credit: PNG Tourism Promotion Authority The PNG Tourism Promotion Authority is still encouraging travellers from all around the world to come to PNG. This was made known at the beginning of this month at the week-long roadshow, The Treasures of the Pacific, a tourism-focused event held in many Australian cities, including Brisbane, Gold Coast,...

Photo credit: Kumul Petroleum - Ila Temu The government must now think about creating a strategy to facilitate the raising of equity capital for fresh resource projects. Dr Ila Temu, country executive director for Barrick Niugini Limited, stated that one of the major challenges that have to be resolved is the financing of equity for resource project...

The re-opening of Papua New Guinea's Pogera Mine must be accelerated as it is a key contributor to the foreign exchange says, BSP Financial Group (BSP) CEO Robin Fleming. The mine has been closed since 2019, but a reopening is imminent after representatives of Mineral Resources Enga and landowners recently signed the shareholder agreement. Foreign e...

The Independent Consumer and Competition Commission has postponed the review of the coastal shipping industry until 2023. In a statement, ICCC Commissioner Paulus Ain said the review, which was started earlier this year to address issues with the market structure and efficiency of the coastal shipping industry, has been postponed until next year after ...

EU-STREIT PNG joins hands with rural youth groups in Papua New Guinea to celebrate the International Youth Day with a message for young population to become proactive and take part in agri-food value chain businesses.  The EU-STREIT PNG Programme in collaboration with rural youths and students in the Greater Sepik region marked the International Youth ...

PNG Study Abroad has been guiding many students in PNG to pursue success in their study abroad journey for almost seven years. Managing Director of PNG Study Abroad, Ms Mitsuki Sato, originally from Japan established her education agency in 2015 shortly after moving to Port Moresby with her family. Mitsuki has since grown the business and in 2018 won the ...

The Autonomous Bougainville Government has rejected Prime Minister James Marape’s statement calling for a nationwide consultation on Bougainville’s 2019 Referendum for Independence results. The ABG’s response is to Prime Minister James Marape’s inaugural statement delivered in the National Parliament following his election as Prime Minister on August 9...

Photo: PM Marape and his Cabinet outside Government House on Tuesday, August 23, 2022. Prime Minister Hon. James Marape says the allocation of four ministries to the agriculture sector is a complete paradigm shift to get agriculture moving again. The Marape Government’s focus on ‘Taking Back PNG’ is deeply embedded in the agriculture sector – which ...

Nambawan Super and Kumul Hotels Ltd, trading as Holiday Inn & Suites and Holiday Inn Express, are pleased to announce the renewal of their Discount Partnership which caters to all Nambawan Super members. Nambawan Super members, with membership ID cards, can now enjoy a whopping 20% off Best Available Accommodation Rates at both the Holiday Inn &amp...

Photo: Consort’s newest addition to its fleet, general cargo vessel ‘Kimbe Chief’, is dedicated to providing a reliable, efficient, and safe service between PNG’s busiest port of Lae and West New Britain’s capital, Kimbe. Papua New Guinea’s leading coastal shipping provider, Consort Express Lines (‘Consort’), recently welcomed the arrival of its latest...

Prime Minister Hon. James Marape says all those involved in election-related violence and crimes will face the full force of the law. He said this recently (August 21 2022) when commenting on the ongoing violence in Mendi, Southern Highlands, since the burning of ballot boxes in the Mendi Police Station in the early hours of last Thursday (August 18 20...