Photo credit: K92 Mining K92 Mining Inc. is pleased to announce results from the ongoing underground diamond drilling of the Kora and Judd deposits at the Kainantu gold mine in Papua New Guinea. The results for the latest 116 diamond drill holes completed from underground into the Kora and Judd deposits are summarized in Table 1 and Table 2 below. T...

Prime Minister Hon. James Marape says his Government has paid off K400 million to complete the Yalu Bridge-Nadzab section of the Highlands Highway, paid off outstanding debts to contractors on the 9-Mile to Yalu Bridge section, and paid off the outstanding Papua New Guinea counterpart funding of the Nadzab International Airport. Roadworks come under th...

Photo credit: Kingston Resources - Figure 1: Misima Gold Project site layout Kingston Resources Limited  is pleased to advise that it has taken an important step towards bringing the Misima Gold Project into production with the completion of a positive Definitive Feasibility Study (DFS). The DFS confirms the potential for a large-scale, long-life, l...

Photo: Nasfund GM MES - Anne Wilson The National Superannuation Fund, Nasfund, is encouraging its members to utilize all Fund touch points, for all their superannuation queries. These touch points are 17 branch offices around the country, an online member portal and a dedicated call center on phone 1588 that allows convenient access of their choosing. ...

Photo credit: PNG Chamber of Mines and Petroleum Twenty employees from St Barbara Limited’s Simberi Operations observed the World Environment Day by planting more than 200 mangrove shoots (young trees) at Pikinur along the airport runway at Simberi, New Ireland Province. Led by the General Manager, Randy McMahon and the Environment team, the employe...

Photo credit: Loop PNG - Clarence Hoot  In the fourth edition of the Investment Promotion Authority's opportunity newsletter, published in April, managing director Clarence Hoot stated that it is a comfort to see that international borders have reopened. “As we start receiving international visitors into the country whether it be in tourism, busines...

Photo: Santos is in a strong position with the announcement of the next tranche of backfill gas to maintain PNG LNG production and the final investment decision on the Angore Development project. According to Brett Darley, Santos President Upstream Oil and Gas, who spoke at the recent Australia PNG Business Forum in Brisbane, the first gas from Ango...

Prime Minister Hon. James Marape has become one of the first world leaders to have a meeting with new Australian Prime Minister Hon. Anthony Albanese recently. PM Marape in Port Moresby had a 15-minute zoom meeting with PM Albanese in Canberra on his first day in office since the Australian Labour Party (ALP) won the national elections in Australia on ...

According to the Internal Revenue Commission, all workers earning at least K673 per fortnight would have their tax bills lowered by K42 per fortnight starting tomorrow (IRC). Commissioner-general Sam Koim stated in a public notice that the Government recently authorized an amendment to the Income Tax (Salary or Wages Tax) (Rates) Act, temporarily raisi...

Photo: Chinese Foreign Minister Wang Yi and PM Marape Prime Minister Hon. James Marape says Papua New Guinea is focused on strengthening economic relationships with China, particularly in downstream processing of raw materials for export. He said this on Friday (June 3 2022) after a meeting with Chinese Foreign Minister, His Excellency Wang Yi, the ...

Photo: Chinese Foreign Minister Wang Yi meeting with PM Marape on Friday Prime Minister Hon. James Marape says China-Papua New Guinea relations remain “solid and strong” since in 1976 when diplomatic relations between the two countries were forged. He said this on Friday (June 3 2022) after a meeting with State Councilor and Foreign Minister Wang Yi...

Prime Minister Hon. James Marape has welcomed the outcome of talks between Chinese State Councillor and Foreign Minister His Excellency Wang Yi and Papua New Guinea Foreign Affairs Minister Hon. Soroi Eoe in Port Moresby on Friday (June 3 2022). The talks follow on from the visit by PM Marape to China in February this year where he held discussions wit...

Photo: Ark buildings are easily assembled by local workers, thus assisting developers achieve their local content objectives by providing training and employment for people in their footprint communities Prefabricated modular building supplier, Ark Pacific, continues to increase its market share in the provision of camps across PNG’s resource sector. W...

Photo: PNG Air 35th Anniversary Launching One of Papua New Guinea’s Leading Airlines PNG Air has marked and is celebrating 2022 as its 35th anniversary year.  PNG Air has been taking Papua New Guinea and Papua New Guineans to their destinations since its initial beginnings as Milne Bay Airlines (MBA) right through to the airlines transition to PNG Air ...

Photo: Chinese Foreign Minister H. E Wang Yi. Prime Minister Hon. James Marape says Papua New Guinea remains “friends to all and enemies to none” and this has been its stance since Independence in 1975 under first Prime Minister and founder of Pangu Pati Sir Michael Somare. He said this today (June 2 2022) when welcoming Chinese Foreign Minister, Hi...

Photo:  EU-STREIT PNG Programme, in its ongoing efforts to build the capacity of rural entrepreneurs and business activities and to create linkages of value chain actors with the public and private sector in the Sepik Region, supports the formation of a Greater Sepik Secretariat Forum. With the backing of the EU Funded UN Joint STREIT PNG Programme,...

Photo credit: ABG Recently, the Autonomous Bougainville Government concluded a three-day Leaders Symposium at the Sharpe Memorial Youth Center in Arawa. Running under the theme of “Moving a resilient and responsible Bougainville towards Independence”, the Symposium provided the space for leaders to reflect on progress so far under the Bougainville S...

Photo credit: Geopacific Resources - Figure 2: Mining Lease exploration target areas Geopacific Resources Limited is pleased to provide further updates on its successful grade control and resource extension drilling at the Woodlark Gold Project. Chief Executive Officer, Tim Richards commented “The grade control and resource extension drilling campai...

Prime Minister James Marape claims that undeveloped resource projects will deliver roughly K200 billion into the country's GDP. As a result, he urged investors to keep investing in the nation. Marape said this in Brisbane at the 37th Australia-Papua New Guinea Business Forum and Trade Expo. “I want to assure you all that despite our diversity of ...

Prime Minister James Marape claims that the Australian government's intervention to assist PNG with budgetary support for essential infrastructure has aided the government's expansionary economic goals. Marape said this in Brisbane at the 37th Australia-Papua New Guinea Business Forum and Trade Expo. “In case you did not see it that is why Bank Sout...

The outlook for Papua New Guinea has been changed from negative to stable by Standard and Poor's Global Ratings. The stable outlook is based on S&P's belief that fiscal consolidation efforts and measures contained in an International Monetary Fund programme would continue to decrease fiscal deficits and stabilise the country's debt burden over the ...

According to National Research Institute (NRI) interim director Osborne Sanida, the government must embrace digital transformation to promote commerce. “the volume of trade has increased over the years with the reduction of tariffs,” he said. “We need to ensure that digital transformation is used to our advantage to facilitate trade. “But we must...

Photo credit: Rocky Roe - PM Marape addresses the forum Prime Minister James Marape claims that Papua New Guinea is a good location to invest. The Prime Minister recently spoke at the 37th Australia-Papua New Guinea Business Forum and Trade Expo in Brisbane. “To attract and lock in investments, we are opening up special economic zones that offer ...

The Ihu Special Economic Zone project in Gulf Province's Kikori District is presently in its second phase of development. The second phase of the Ihu SEZ has been funded with a total of K10 million, according to Peter Kengemar, the project director. He stated that for the first five years of phase two development, K20 million from the K100 million a...